Trump to slap 'sweeping' new tariffs on 60 trade partners as global duties expire - CNBC
The Trump administration has implemented new tariffs ranging from 10% to 12.5% on 60 trade partners, citing forced labor violations. These duties replace expiring global tariffs and cover nearly all U.S. trade.
Why it matters
The move represents a significant escalation in protectionist trade policy, likely impacting global supply chains and consumer prices.
The Trump administration imposed new tariffs Friday on dozens of countries over alleged forced labor violations, according to a notice in the Federal Register.
The duties, set between 10% and 12.5%, effectively replace President Donald Trump 's temporary 10% global tariffs , which expired at 12:01 a.m. ET — the same time as the new ones took effect.
The tariffs apply to 60 trade partners and cover 99.4% of U.S. trade, the Office of the U.S. Trade Representative said in a fact sheet Thursday afternoon. The office separately told CNBC that it could not provide an estimate of how much revenue the new tariffs will generate.
The move "is the most sweeping international labor rights action the United States has ever taken — that any country has ever taken," a senior Trump administration official told reporters on a call earlier Thursday.
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