The United States will impose a new round of tariffs on imports from 60 trading partners starting this Friday, coinciding with the expiration of a temporary global tariff measure.

According to a Federal Register document, goods from China, the European Union, and Mexico will be subject to Section 301 tariffs, with some countries facing a 10% rate on their exports to the U.S. and others facing 12.5%. Goods already loaded on vessels before Friday and entered for import by July 28 will not be affected by this increase.

The document shows that for imports from countries subject to Most-Favored-Nation (MFN) tariff rates, such as the EU, Japan, and South Korea, the tariffs imposed will deduct the MFN rate portion. In short, the combined Section 301 tariff and MFN rate will not exceed 10% or 12.5% (depending on the country), unless the MFN rate itself is already higher than that percentage.

"The words 'net of MFN' could be the biggest takeaway in the entire announcement," said Pete Mento, director of global trade advisory services at Baker Tilly, in a LinkedIn post. "If it operates as it appears on its face, this is not simply stacking on top of existing tariffs. It could fundamentally change how Section 301 tariffs are calculated for these products."

The U.S. will exempt a range of products from the new tariffs, including various agricultural goods and items already subject to Section 232 tariffs, such as steel and aluminum. The document also lists country-specific exemptions, such as certain textiles from Malaysia and whiskey from the UK.

Section 301 Forced Labor Tariff Rates by Country

The rates the U.S. will impose on imports from each trading partner covered by the Trump administration's tariffs justified on grounds of forced labor.

These tariffs stem from a Section 232 investigation launched in March into forced labor practices among major U.S. trading partners. U.S. Trade Representative Jamieson Greer first proposed these tariffs last month, after finding that the 60 countries had failed to "implement and effectively enforce" measures prohibiting goods made with forced labor from entering the U.S. The Trump administration reiterated this justification on Thursday.

"Despite the international community's long-standing consensus that this practice must be eliminated, forced labor persists globally and has even intensified in recent years," the Office of the U.S. Trade Representative said in a fact sheet accompanying the Federal Register document. The fact sheet stated that these tariffs would cover 99.4% of U.S. imports.

By announcing these new tariffs, the Trump administration is preparing for the expiration of a global 10% tariff. That tariff was implemented earlier this year following a Supreme Court ruling that struck down previous tariffs imposed under the International Emergency Economic Powers Act. That temporary Section 122 tariff expires on Friday.

The Trump administration has also imposed new tariffs on goods from Canada and Brazil over the past week. Both countries are included on the list subject to the forced labor tariffs. Thursday's document did not specify how the forced labor tariffs will interact with the new tariffs on Canadian and Brazilian imports.

More tariffs could be forthcoming, as the U.S. continues a Section 301 investigation into global manufacturing capacity. The results of that investigation have not yet been released, but it was launched the same week as the forced labor investigation.