Trump tariffs hit 60 partners, covering nearly all US imports

President Donald Trump’s latest tariff package took effect Friday, imposing new duties on 60 trading partners and covering virtually all goods entering the United States. The new levies replaced a temporary 10% baseline tariff that expired July 24, after the Supreme Court earlier this year struck down the administration’s previous “liberation day” tariffs. CNBC reported the new rates range from 10% to 12.5%, with officials using Section 301 of the Trade Act of 1974 and citing forced labor practices. PBS reported the administration is also moving ahead with 50% tariffs on some Canadian products in mid-August. Markets reacted calmly Friday, but analysts warned the measures could add inflation pressure and weigh on growth.