Trump Administration Set to Impose 301 Tariffs on 60 Countries Amid Global Trade Uncertainty

The Trump administration is set to shift from Section 122 to Section 301 tariffs as the 10% global universal tariff introduced in February expires on July 24. The new policy aims to target 60 countries, including South Korea and China, with forced-labor tariffs of 10% to 12.5%. This move could have significant implications for the crypto market, which is already under pressure due to rising trade costs.

The implementation of Section 301 tariffs is expected to trigger a stock market sell-off and risk aversion, putting additional pressure on the crypto market. The fear index stands at 28, with net outflows of the South Korean won reinforcing the bearish sentiment. However, some analysts believe that the policy has already been largely factored in, and the impact may be limited.

Country-specific tariffs under Section 301 have already begun, with Brazil being the first target. The Trump administration has shown little concern for the report's flaws, including arguments that Norway's large salmon catch contributes to trade imbalances. Final tariff rates for each country could come later, as the administration still needs justification and procedures to support tailored rates.