Trump to Impose New Tariffs on 60 Countries
The administration accused 60 trading partners of failing to enforce bans on forced labor. It comes as a global 10 percent tariff is set to expire.The Trump administration will impose new tariffs just after midnight ET Friday on dozens of countries over alleged forced-labor violations, according to a notice in the Federal Register.
The duties, set between 10% and 12.5%, will effectively replace President Donald Trump’s temporary 10% global tariffs, which are set to expire at the same time as the new ones take effect.
The forthcoming tariffs will apply to 60 trade partners and cover 99.4% of U.S. trade, the Office of the U.S. Trade Representative said in a fact sheet Thursday afternoon. The office separately told CNBC that it could not provide an estimate of how much revenue the new tariffs will generate.
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