Trump announces double digit tariffs on 60 countries over forced labour concerns
Summary
President Donald Trump announced new tariffs of 10% to 12.5% on imports from 60 countries starting Friday, aiming to address forced labor concerns. These tariffs replace temporary levies that expired after the Supreme Court ruled against his previous trade measures.Key Facts
- The new tariffs apply to imports from 60 countries that make up 99% of US imports.
- These tariffs target countries accused of not stopping goods made with forced labor.
- The tariffs range from 10% to 12.5% on affected imports.
- They replace temporary 10% worldwide tariffs that expired at midnight Friday.
- Trump is using Section 301 of the Trade Act of 1974 to impose these tariffs.
- Section 301 allows the president to tax imports from countries engaged in unfair trade practices.
- Some products like oil, gas, and fertilizer are exempt from the new tariffs.
- Products under the US-Mexico-Canada trade agreement are also exempt.
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