US unveils fresh tariffs of up to 12.5% on 60 economies; India at lower 10% rate

The Trump administration on Thursday imposed new tariffs of 10 per cent and 12.5 per cent on imports from 60 economies, including India, saying the move aims to push trading partners to strengthen enforcement against goods produced using forced labour. India now qualifies for the lower 10% rate after recent policy changes.The new duties, imposed under Section 301 of the Trade Act of 1974, will take effect at 12.01 am EDT on Friday, replacing the temporary 10 per cent global tariff that expires at the same time. Goods already in transit will remain exempt until July 28, said the Office of the US Trade Representative (USTR),.The tariffs follow the US trade bodies' investigations which included public hearings, consultations with governments and thousands of public comments."President Trump recognises that decades of moral suasion have not eradicated forced labour from global supply chains.