Trump Unveils Sweeping New Tariffs Expected to Cost Americans $100 Billion a Year

Photo: Official portrait of U.S. Trade Representative Jamieson Greer – June 26, 2025. Photo credit: Office of the United States Trade Representative via Wikimedia Commons. Public Domain. Article by Jake Johnson. Common Dreams – July 24, 2026.

President Donald Trump on Thursday unveiled a new package of tariffs targeting 60 countries that account for over 99% of US imports, a move that—if upheld in court—would cost Americans an estimated $100 billion per year in the form of higher costs. The duties, ranging from 10% to 12.5%, were announced as part of the president’s effort to maneuver around repeated court rulings against his sweeping tariffs, including by the conservative-dominated US Supreme Court. Jamieson Greer, the Trump administration’s top trade official, pointed to Section 301 of the Trade Act of 1974 to justify the new […]

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