U.S. 10% Temporary Surcharge Set to Expire July 24, Proposes 12.5% Tariff on China

July 2, news: The 10% global temporary import surcharge imposed by the United States under Section 122 of the Trade Act of 1974 is set to expire on July 24, 2026. A Federal Register notice issued by the U.S. Trade Representative (USTR) on June 5 indicates a proposal to impose a 10% Section 301 tariff on economies that have established import prohibition arrangements related to forced labor. Simultaneously, it proposes a 12.5% tariff on 46 economies, including mainland China and Hong Kong. The USTR has scheduled a public hearing on July 7 to vote on whether these measures will take effect. Additionally, on March 11, the USTR initiated a Section 301 investigation into manufacturing overcapacity covering 16 economies, including China, the EU, Japan, South Korea, Vietnam, and Mexico. The results of this investigation are expected to be announced around July 24, potentially accompanied by a new round of tariff measures targeting China. Influenced by the July tariff policy transition window, overseas buyers are accelerating their ordering and shipping schedules. Freight rates on China-U.S. routes have risen to near two-year highs. Industry insiders recommend that freight forwarders and related shippers continue to monitor changes in sailing schedules and freight rates, strive to complete urgent order shipments before July 24, and allow buffer time for customs clearance procedures. [Source: Ebrun Go. This article was generated by an automated writing robot developed by Ebrun, providing e-commerce industry intelligence via algorithm. This AI is still young; welcome to contact run@ebrun.com or leave comments to help it grow.]