Trump set to impose sweeping tariffs on 60 trade partners
Summary
President Donald Trump’s administration will impose new tariffs of 10% to 12.5% on goods from 60 trading partners, including the European Union. The tariffs target companies accused of using forced labor and will start on Friday, replacing a previous global tariff set to expire the same day.Key Facts
- The tariffs will affect 60 trade partners, including the European Union.
- The tax rates will be between 10% and 12.5%.
- The tariffs aim to stop products made with forced labor from entering the U.S. market.
- These tariffs replace a 10% global tariff that is expiring.
- The previous tariff was removed after a Supreme Court ruling earlier this year.
- The new tariffs take effect on the same day the old global tariff ends.
- The announcement came from the U.S. Trade Representative Jamieson Greer’s office.
- This move is part of President Trump’s ongoing trade policies.
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