US trade representative to announce tariff update ahead of Trump-era tax expiration

The White House confirmed that U.S. Trade Representative Jamieson Greer will make an announcement regarding tariffs on Thursday. This comes as a 10% global tariff, implemented by former President Donald Trump, is set to expire at midnight Friday.

White House Press Secretary Karoline Leavitt told reporters that "very soon, later today (Thursday)" an announcement would be made. She urged attendees to "stay tuned for more details."

Following a Supreme Court decision that overturned previous tariffs in February, Trump quickly replaced them with a temporary 10% import tax. This levy, however, has a 150-day limit and is due to expire on Friday.

The Trump administration has been preparing a series of new tariffs targeting approximately 60 countries identified as having forced labor practices. These proposed tariffs, ranging from 10% to 12.5%, are considered more durable than previous ones and follow months of investigation. However, authorities have not yet set a timeline for their implementation.

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There will be an announcement very soon, later today (Thursday). I would tell you to stay tuned for more details.