Trump Section 301 tariffs: new 60-country duties from July 24
President Donald Trump’s administration announced new Section 301 tariffs on imports from 60 economies, effective July 24, 2026. The duties are set at 10% or 12.5%, depending on the trading partner, replacing a temporary 10% global tariff that expired on the same day.
The legal basis is Section 301 of the Trade Act of 1974, used to target “unfair or harmful” trade practices. The administration says the change is driven by insufficient enforcement of bans on goods produced with forced labor. Several affected countries have rejected this forced-labor rationale as a pretext.
No major counterpart—including the European Union—has announced retaliatory measures so far. Instead, officials have signaled continued negotiation. Shipments already in transit before July 24 receive a short grace period: they are exempt from the new duties until July 28, 2026.
This follows a major court setback. A Supreme Court ruling in February 2026 struck down the prior reciprocal tariff framework, forcing the White House to pivot to Section 301 tariffs as a different legal “hook.” Analysts note that scaling Section 301 tariffs to 60 countries at once is an escalation, especially with EU participation.
For traders, these Section 301 tariffs raise the probability of renewed trade uncertainty. That can feed into risk sentiment, currency moves, and rates—factors that often spill over into crypto volatility even when direct token exposure is limited.
Bearish
The news is macro-driven and can pressure risk assets. Section 301 tariffs on 60 economies increase the odds of broader trade friction, higher costs, and retaliation risks—even if no immediate countermeasures were announced. Historically, when the US ramps tariff coverage and legal pathways shift after court setbacks (e.g., prior tariff expansions during Trump’s first term), markets often respond with “risk-off” behavior: wider spreads, softer equities, and cautious crypto positioning.
Short-term, traders may price in volatility around the July 24 effective date. FX and rates moves tied to trade uncertainty can spill into BTC/ETH via liquidity conditions and correlation with broader risk sentiment.
Long-term, if negotiations progress and retaliation is avoided, the bearish impulse may fade. But the fact that the US is escalating Section 301 tariffs simultaneously across many partners—especially involving the EU—keeps the probability of renewed disputes elevated. That sustained uncertainty typically caps upside and can make rallies harder to sustain.