U.S. new tariff policy takes effect today, covering 60 major economies
BlockBeats, July 24: The United States’ new tariff rules formally took effect. On July 23, the U.S. Trade Representative’s office issued a notice citing Section 301 of the Trade Act of 1974 to impose 10%–12.5% tariffs on 60 economies, replacing the global import tariffs that are set to expire. The new rules are scheduled to be activated at 12:00 noon Beijing time on July 24.
The tariff coverage applies to more than 99% of U.S. trade interactions and is extremely broad. In-transit goods will not be assessed immediately; the relevant rules will be carried out starting at 12:00 noon on the 28th. Meanwhile, the policy includes exempt categories. New tariffs will not apply to basic supplies such as fuel, grain, and fertilizers. Goods such as automobiles, metals, and medicines—items already under specific tariff controls—are also not included in this additional levy list.
The escalation of trade barriers directly stirs global market expectations and increases upward pressure on inflation. The market expects that higher tariffs will raise the cost of imported goods, delay the timing of the Federal Reserve’s rate cuts, and support the U.S. dollar’s resilience. Risk sentiment in equity and crypto markets is under pressure in sync; in the short term, investors’ willingness to seek safety is likely to rise, and commodities, stock indexes, and crypto asset price charts will all experience phase-based volatility.
#Global Trade #Macro Market
BlockBeats, July 24: The United States’ new tariff rules formally took effect. On July 23, the U.S. Trade Representative’s office issued a notice citing Section 301 of the Trade Act of 1974 to impose 10%–12.5% tariffs on 60 economies, replacing the global import tariffs that are set to expire. The new rules are scheduled to be activated at 12:00 noon Beijing time on July 24.
The tariff coverage applies to more than 99% of U.S. trade interactions and is extremely broad. In-transit goods will not be assessed immediately; the relevant rules will be carried out starting at 12:00 noon on the 28th. Meanwhile, the policy includes exempt categories. New tariffs will not apply to basic supplies such as fuel, grain, and fertilizers. Goods such as automobiles, metals, and medicines—items already under specific tariff controls—are also not included in this additional levy list.
The escalation of trade barriers directly stirs global market expectations and increases upward pressure on inflation. The market expects that higher tariffs will raise the cost of imported goods, delay the timing of the Federal Reserve’s rate cuts, and support the U.S. dollar’s resilience. Risk sentiment in equity and crypto markets is under pressure in sync; in the short term, investors’ willingness to seek safety is likely to rise, and commodities, stock indexes, and crypto asset price charts will all experience phase-based volatility.
#Global Trade #Macro Market