The effective tariff rate on US imports was 6.73% in July 2026, down 39 bps from the month before.

That is duty assessed at the border as a share of what the goods were worth. Not an estimate.

Where it moved most:

• China electronics: 20.91% (+129 bps)
• China toys: 10.87% (-106 bps)
• Apparel: 21.46% (-67 bps)
• Mexico vehicles: 8.73% (-67 bps)

What changed in July. The Section 122 surcharge of 10% expired at 12:01 a.m. on July 24, the end of its 150-day statutory run. At the same moment, the new Section 301 duties took effect on 60 economies: 12.5% for a group that includes China, Vietnam and Brazil, 10% for most others, with USMCA-qualifying goods exempt. July therefore contains 23 days of the old regime and 8 days of the new one. The first full month under the new duties is August, which prints on October 6.

Two smaller July events: a 25% duty on Brazil took effect July 22, and it stacks with the 12.5% duty above. And phase one of the Section 232 pharmaceutical action started July 31, covering one day of the month. The pharmaceutical series has never exceeded 0.57% in sixteen years. Watch it in October.

(All of the above is verified against the Federal Register texts: 91 FR 9339, 47318, 45516, 18183.)

Every series back to 2010, the methodology, and the raw data are free: https://etrxindex.com

The next print date is on the calendar.

Research and commentary. Not investment advice.