U.S. prepares 10%-12.5% tariffs on imports from 60 nations
The new plan would replace a temporary 10% levy expiring July 24 after courts struck down the legal basis for Trump's earlier tariffs.
The United States is preparing new import tariffs of 10 percent to 12.5 percent on goods from 60 countries, with the measures potentially taking effect as soon as this week after the temporary 10 percent global duty expires on 24 July. The new framework is tied to allegations that U.S. trading partners have failed to crack down on forced labor. U.S. Trade Envoy Jamieson Greer signaled the step could come soon. According to reports cited by the Financial Times and The Straits Times, countries seen as having taken steps on forced labor issues would face a 10 percent tariff, while more than 40 other economies including China, India, and Japan could be hit with 12.5 percent. The move would also allow Donald Trump’s administration to rebuild its tariff agenda after the U.S. Supreme Court and the U.S. Court of International Trade struck down the legal basis for the previous duties.