MYSTEEL: New US Section 301 tariffs signal continuity, not escalation, in trade policy

The Office of the United States Trade Representative (USTR) finalized on July 23 the implementation of additional tariffs of 10% to 12.5% on imports from dozens of countries and regions under Section 301 of the Trade Act of 1974, citing alleged "forced labor" practices. The action, first proposed on June 2, takes effect on July 24, replacing the temporary Section 122 duties that expired on the same date.

As the new tariffs largely substitute for the previous measures rather than adding to existing levies, the overall impact is limited, according to Mysteel's latest report. China is subject to the higher 12.5% rate, and the effective US tariff rate on Chinese imports is estimated to rise by around