US sets 10% to 12.5% tariffs on 60 trade partners Friday

The Trump administration will impose new tariffs of 10% to 12.5% on 60 trade partners just after midnight Friday, replacing a temporary global 10% duty that expires at the same time. The Office of the U.S. Trade Representative said the measure covers 99.4% of US trade and follows a Section 301 investigation that found the targeted countries failed to effectively block forced-labor practices in trade with the United States. The administration said the new tariffs will not stack on top of existing Section 232 steel and aluminum duties. The move marks a broad return to Trump’s tariff strategy after the Supreme Court struck down his earlier global “liberation day” duties in February.