US eyes new tariffs as existing trade duties near expiration

The United States is preparing to introduce additional tariff measures as current temporary duties approach their expiration date. US Trade Representative Jamieson Greer signalled on CNBC that action could come soon, though he did not provide a specific timeline for implementation.

The existing tariffs were imposed in February under Section 122 of the US Trade Act of 1974, which permits the president to levy duties up to 10 percent for 150 days without requiring congressional approval. This mechanism was adopted after the Supreme Court invalidated an earlier attempt by President Trump to impose sweeping global tariffs using the International Emergency Economic Powers Act, determining that the president lacked sufficient authority under that statute.

The forthcoming tariffs are expected to address multiple concerns, including allegations of forced labour practices among trading partners. Greer indicated that the new duties could encompass a substantial portion of overall US trade, potentially affecting major trading relationships with China, Japan, and the European Union.

Recent tariff announcements have already targeted specific nations. The White House imposed 25 percent duties on Brazilian imports including sugar and steel, and announced a 50 percent tariff on Canadian goods such as wine and cement, citing discriminatory treatment of US products including automobiles and dairy goods.

Analysis suggests that US consumers and businesses absorb the primary economic burden of these tariffs. The Kiel Institute for the World Economy found that US importers and consumers bear 96 percent of the cost, while the Tax Foundation estimates the tariffs will increase average household tax burden by approximately $700.