The US administration is ready to introduce new customs tariffs on about sixty countries, according to the Financial Times. The new measures could be announced as early as this week, before the expiration of the 10% global tariffs scheduled for July 24. The time-limited tariffs had been introduced as a provisional measure and the US administration now appears inclined to replace them with a new package.

The new tariffs should initially maintain a 10% level, with the possibility of higher duties at a later stage. To circumvent potential legal obstacles, the administration is reportedly considering the use of Section 301 of the 1974 Trade Act, a procedure that requires a formal investigation, public consultations and hearings before the measures take effect. Once introduced, the tariffs can remain in force for four years and subsequently be renewed.

The White House has also reportedly prepared a tightening of imports from Canada, with 50% tariffs on most goods from Ottawa. The measure would affect Canadian exports to the United States worth approximately 20 billion dollars, including products such as wine, hockey sticks and cement, some of which are currently exempt under the Cusma trade agreement. The administration has indicated that the tariffs could take effect within thirty days if the Canadian government does not remove trade barriers on US products. According to the White House, the measure is a response to Canada's actions following previously imposed tariffs and restrictions on sectors such as automobiles, dairy products and alcohol.

On July 20, the US president also announced 25% tariffs on goods from Brazil.

According to some White House advisers, there are concerns about potential economic repercussions ahead of the midterm elections. The European Union has so far maintained a cautious stance pending further developments.