Trump Action Archive

Supporting reports

• President imposes tariffs on 60 economies for forced labor import enforcement failures — The President issued a memorandum directing the U.S. Trade Representative to impose tariffs under Section 301 of the Trade Act of 1974 on goods from 60 economies found to have failed to impose or effectively enforce prohibitions on forced-labor imports. Tariff rates range from 10 percent to 12.5 percent ad valorem, with product-specific exemptions and tariff-rate quotas for certain textile and apparel goods. The action follows investigations initiated March 12, 2026, and determinations made June 2, 2026, that the practices of each economy are unreasonable and burden U.S. commerce.
• Trump issued presidential memorandum imposing tariffs on 60 economies for forced labor enforcement failures — President Trump issued a presidential memorandum directing the U.S. Trade Representative to impose tariffs ranging from 10 to 12.5 percent ad valorem on goods from 60 economies, including major trading partners (Canada, Mexico, European Union, Japan, China, India), based on determinations that these economies fail to impose or effectively enforce prohibitions on forced-labor-produced imports. The memorandum follows a March 2026 section 301 investigation and June 2026 determinations of actionable practices. Tariffs include exemptions for specified products and tariff-rate quotas for certain textile and apparel goods from Bangladesh, Cambodia, Indonesia, and Malaysia, to be established by September 1, 2026.
• Trump imposes new tariffs on 80+ countries citing forced labor — At 12:01 a.m. on July 24, Trump imposed tariffs ranging from 10% to 12.5% on goods from more than 80 countries representing 99.4% of U.S. trade, claiming the countries produce goods using forced labor. The action invokes a different legal authority than the "Liberation Day" tariffs struck down by the Supreme Court in February 2026 and differs from tariffs imposed after that ruling. The time limit for imposing tariffs under the law used for the post-Supreme Court decision tariffs expired on July 24. Within hours, two small businesses sued in the U.S. Court of International Trade, alleging the new tariffs were designed to reinstate the unconstitutional tariff system.
• Trump imposes new tariffs on 60 countries — Trump imposed new tariffs of 10 to 12.5 percent on 60 countries, citing forced labor as the pretext. The bulletin does not specify which countries were targeted, the effective date of the tariffs, or the administration's justification for the specific rates.

Supporting reports

• Oil prices spiked amid regional conflict — Oil prices increased significantly during the period of escalating military conflict in the Middle East, with Brent crude reaching $94.50 per barrel. The price increase reflects market concerns about the impact of the conflict on global energy supplies.
• Oil prices surge past $100/barrel amid escalating Iran-U.S. tensions — Brent crude oil surged past $100 per barrel, up 42% in twenty days, as regional military tensions between the U.S. and Iran intensified. The 10-Year Treasury yield spiked above 4.70%, and the 30-year climbed past 5%. Major stock indices sold off sharply at market open, with the Nasdaq down nearly 2.7%. The escalation followed overnight Houthi attacks on Saudi oil tankers and Iranian strikes near Iraq-Kuwait border positions.
• Oil prices surge 7 percent following Houthi attacks on Saudi tankers — Following claims by Iran-backed Houthi rebels that they attacked two Saudi Arabian oil tankers in the Red Sea, the price of Brent crude oil surged 7 percent to more than $100 per barrel. The attacks raise concerns about potential closure of the Bab el-Mandeb strait, through which 12 to 15 percent of the world's maritime trade passes annually. The average price of gasoline in the United States rose to $4.09 per gallon.
• Brent crude surges past $91 per barrel and national gas prices hit $4 per gallon — Brent crude oil surged past $91 per barrel, and national gasoline prices reached $4 per gallon for the second time in 2026. The price increases reflect market response to regional conflict and supply disruptions, affecting consumers and the broader economy.
• Iran conflict escalation drove oil prices to $100 per barrel and gas prices above $4 per gallon — A widening military conflict with Iran entered a dangerous new phase, spooking energy markets and sending global oil prices to $100 per barrel. Gas prices topped $4 per gallon in much of the country. The economic turmoil coincided with the Trump administration's formalization of new tariffs on dozens of countries, creating compounded economic pressure on American families and businesses already weathered by over a year of trade war shocks.

Supporting reports

• Trump administration formalized new tariffs on dozens of countries including EU members — The White House formalized a slate of new tariffs on dozens of countries on Friday, including major U.S. trade partners and European Union members. The tariffs are expected to be the first of additional duties to come. Tariffs function as taxes on imported goods and are expected to raise costs for American companies and consumers.