US carves out exemptions, limits stacking with new global tariffs
By Bradley Dress ( July 28, 2026, 22:03 GMT | Comment) -- The Trump administration's broad tariffs under Section 301 of the Trade Act of 1974 include several carveouts and exemptions that ease the tariff landscape for importers and include major changes, despite US producers having asked for more stringent rules. The new tariff regime, applying duties on 99 percent of US trading partners at rates of either 10 or 12.5 percent, is easier to navigate, particularly since there is less stacking of duties compared to those levied last year under the 1977 International Emergency Economic Powers Act.The Trump administration's broad tariffs under Section 301 of the Trade Act of 1974 include several carveouts and exemptions that ease the tariff landscape for importers and include major changes, despite US producers having asked for more stringent rules....
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