India, July 24 -- The US Trade Representative has officially imposed sweeping new Section 301 tariffs of up to 12.5 per cent on 60 economies on Thursday, hitting virtually every major US trading partner, from India, China and the European Union to Canada, Mexico and Japan, in a move timed precisely to replace a separate 10 percent universal tariff that expired the same day after the US Supreme Court struck down its legal basis.

Section 301 tariffs of 10 per cent or 12.5 per cent took effect on 60 trading partners, subject to certain product exemptions, in an action covering 99.4 per cent of all US imports.

At the specific direction of US President Trump, the US Trade Representative initiated 60 investigations on March 12, 2026, related ...