Written by 07:28 Business, News

Trump Announces New Tariffs on 60 Countries in Major Trade Policy Shift

Trump Announces New Tariffs on 60 Countries in Major Trade Policy Shift

WASHINGTON: In response to worries about forced labor, the United States announced on Thursday that it would replace an expiring global charge imposed by President Donald Trump earlier this year with new duties on 60 trading partners.

Major economies like China, India, and the European Union are affected by the levies, which go into effect on Friday and range from 10% to 12.5%. In announcing the tariffs, US Trade Representative Jamieson Greer stated, “The United States has had a forced labor import ban for nearly a century and rigorously enforces it; it’s well past time for our trading partners to do the same.”

After the Supreme Court overturned many of his orders in February, the Trump administration worked quickly to rebuild the president’s tariff wall, undermining his power to impose high taxes whenever he pleases.

Trump used several tools to reinstate a 10% duty on imports following the legal defeat. However, this expires on Friday and is only valid for 150 days. It will now be replaced by the barrage of additional responsibilities that were first suggested in June. The measures are seen to be more resilient to legal challenges than previous actions, and they were put forth following a months-long investigation.

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