A 10% Global Tariff Is Already in Place — and Higher Levies Could Follow by July

Imported goods across electronics, clothing, and industrial inputs could become more expensive for U.S. households and businesses. The Trump administration is currently imposing a 10% global tariff under Section 122 of U.S. trade law. It has launched a Section 301 investigation to raise tariff rates further. Section 301 allows the U.S. to impose additional tariffs in response to unfair trade practices by other countries. Treasury Secretary Scott Bessent said the U.S. could reimpose previous tariff levels as early as July under Section 301.