US set to impose new tariffs on 60 trading partners
The Trump administration is imposing new tariffs of 10% to 12.5% on 60 trading partners, including the EU, citing concerns over forced labor practices. This move replaces an expiring temporary tariff and continues the administration's aggressive trade policy.
Why it matters
These tariffs could trigger retaliatory trade measures from global partners and significantly impact international supply chains and consumer prices.
The Trump administration will impose new tariffs of 10% and 12.5% on 60 trading partners, including the European Union, over allegations of lax enforcement of forced labour bans, senior administration officials said.
The move comes just as a temporary 10% global tariff expires.
It is the White House's latest effort to restore President Donald Trump's campaign vision of a near-global tariff after the US Supreme Court in February struck down his "reciprocal" duties of 10% to 50% imposed last year under a national emergencies law to try to shrink the US trade deficit.
Mr Trump responded to that ruling by imposing a temporary 10% tariff for 150 days that expires tonight (05.01am Irish time), invoking Section 122 of the Trade Act of 1974, a law meant to quell balance of payments crises.
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