White House set to reveal next phase of Trump’s tariff push

The Trump administration is set to unveil the next stage of its trade policy on Thursday, according to the White House, as attention turns to whether the US will replace a temporary 10% tariff regime covering much of the world before it expires on Friday. The announcement comes amid reports that Donald Trump is preparing a fresh wave of sweeping tariffs. That would mark another significant step in a trade agenda that has remained a central feature of his approach to economic policy and foreign relations. The timing matters. The current 10% tariff structure was put in place after the administration’s earlier tariff plans ran into legal trouble. In February, the US supreme court ruled that many of those tariffs were illegal, dealing a major blow to Trump’s original approach. The White House then moved to the temporary system now nearing its end. What happens next is still unclear. The administration has not publicly set out the scope of the new measures, which countries or sectors could be affected, or whether the next move will extend, replace or narrow the existing tariff regime. That uncertainty is likely to keep businesses, importers and trading partners watching closely. For companies tied to global supply chains, even a short-term change in tariff policy can affect pricing, sourcing and planning. Import costs can feed through to consumer prices, while exporters abroad may face renewed pressure if the US widens duties again. Markets often react quickly to tariff announcements because they can alter trade flows and shift expectations for inflation and growth. Trump has long argued that tariffs are a way to protect American industry and put pressure on trading partners. Critics, meanwhile, say tariffs can raise costs for US consumers and businesses and risk escalating tensions with allies and rivals alike. The legal setback earlier this year added another layer of complexity, forcing the administration to rebuild its trade strategy while still trying to project firmness. The White House’s decision to frame the announcement as the “latest stage” of policy suggests the administration wants to present the move as part of a broader economic strategy rather than a stand-alone measure. But until officials release the details, the scale and impact of the new tariffs remain uncertain. For now, the key question is whether Thursday’s announcement will simply extend the current arrangement or signal a more aggressive return to the sweeping tariff plans that have defined Trump’s trade agenda. Either way, the decision is likely to have implications beyond Washington, with trading partners and businesses looking for signs of how far the administration intends to go.

Source: The Guardian Business - https://www.theguardian.com/us-news/2026/jul/23/trump-administration-trade-tariffs