US President Donald Trump is imposing new, double-digit tariffs on dozens of trading partners as existing temporary tariffs expire.
elchi reports that the US will impose additional tariffs ranging from 10% to 12.5% on imports from 60 countries, which account for 99% of US imports.
Washington administration cited the failure of these countries to properly enforce bans on goods produced using forced labor as the reason for the decision.
The new tariffs will take effect at 12:01 a.m. on Friday, when the 10% global temporary tariffs, imposed after the Supreme Court struck down Trump’s most comprehensive tariff rules in February, expire. US Trade Representative Jamison Greer stated, “The US has been enforcing and strictly monitoring the import of goods produced using forced labor for nearly a century. It is time for our trading partners to do the same.
This step will improve the well-being of workers everywhere by beginning to correct both human rights abuses and trade-distorting practices.”
Trump justifies this move under Section 301 of the Trade Act of 1974. This section grants the president the authority to impose tariffs and other sanctions on countries that engage in “unjust,” “unreasonable,” or “discriminatory” trade practices. Trump also used this section to impose broad tariffs on China during his first term.
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