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Trade war 3.0: A new, lasting tariff wall
With Section 122's flat 10% tariff expiring on 24 July, the switch to Section 301 and Section 338 tariffs will send the US average import tariff back above 2025's IEEPA-era level to 12.4%, up from a May low of 7.7%. And this time it should stick: Section 301 requires formal USTR investigations and is far harder to challenge in court. History shows these tariffs tend to outlive the administrations that impose them: China's 2017 case is already in its second statutory review. On top of Section 301, the US will continue using Section 232 tariffs, concentrated on a few sectors – automotive, steel, aluminum, ... (full story)
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