US President Donald Trump is poised to unleash fresh tariffs on dozens of countries as soon as this week, even as his advisers warn him against risking the economic shocks of his original trade war in advance of the midterm elections.
US officials have prepared options to allow Trump to launch new tariffs on dozens of countries as the president’s 10 per cent global duties expire later this week, according to people briefed on the plans.
Trump on Monday unveiled tariffs of 50 per cent on Canadian goods, having already hit Brazilian imports with a 25 per cent levy, underscoring his continued fixation with using tariffs against trading partners.
Monday’s action threatens to further strain relations with Canadian prime minister Mark Carney, who joined Trump to view the World Cup final in New Jersey on Sunday. Last week, Trump threatened higher tariffs to punish Canada for the wildfire smoke that blanketed US cities including New York and Washington.
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Fresh tariffs come after the Supreme Court earlier this year struck down the reciprocal levies that were put in place following Trump’s “liberation day” announcement in April 2025.
Washington moved to a 10 per cent tariff regime in the wake of the Supreme Court decision this February, but those measures are due to expire on Friday. The new set of fees would be put in place following a probe of forced labour practices, allowing Trump to avoid using the emergency authorities knocked down by the Supreme Court.
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While the most immediate new duties are expected to be on a par with the 10 per cent tariffs already in place, the administration is also working on other investigations that could grant it the legal authority to propose higher duties.
Behind the scenes, senior officials have been counselling the president to maintain stability with trading partners and honour the deals that Washington struck with them to reduce their tariffs in 2025, according to two people familiar with the matter.
Trump’s attempt to renew his trade war comes at a time of escalating hostility between the US and Iran, which has roiled global energy markets and risks broadening into a regional conflict.
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The war has inflicted economic pain on ordinary Americans, pushing petrol prices back to above $4 (€3.51) per gallon this week and risking inflaming voter frustration over the high cost of living.
Polling carried out by Focaldata earlier this month found more than two-thirds of voters disapproved of how Trump was handling the cost of living.
“I think the big influence on tariff rates is the political climate and affordability concerns, which constrain Trump’s ability to escalate,” said Michael Smart, managing director at Rock Creek Global Advisors, an advisory firm in Washington.
US officials have tempered many of Trump’s original maximalist tariffs by offering large exemptions for crucial consumer goods, including beef and coffee, and easing some of the levies on products made with steel and aluminium.
After two recent trade investigations into critical minerals and aeroplane parts, officials recommended Washington hold negotiations with its trading partners instead of pushing for tariffs.
“This does not mean that tariff hikes are in the rear-view mirror,” said Wendy Cutler, a former US trade official who is now senior vice-president at the Asia Society Policy Institute.
“But it does suggest that a more cautious approach is now called for, particularly in the lead up to the midterm elections.”
The White House and the US trade representative’s office did not respond to a request for comment.
The tariffs that could be unveiled this week will fall between 10 per cent and 12.5 per cent on 60 countries over forced labour practices, and were first proposed by US trade officials in June.
The US launched the probe – carried out under Section 301 of the Trade Act of 1974 – in March, along with one into excess manufacturing capacity, and has held public hearings into its proposals.
That second probe includes the European Union, China, Singapore, Switzerland, Norway, Indonesia, Malaysia, Cambodia, Thailand, South Korea, Vietnam, Taiwan, Bangladesh, Mexico, Japan and India.
The new approach to imposing tariffs underscores the way in which the administration must rely on a patchwork of more procedural laws to apply high duties, rather than being able to hit countries with huge tariffs almost instantly under emergency presidential powers. – Copyright The Financial Times Limited 2026/Bloomberg
