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US to impose 10% to 12.5% tariffs on more than 80 countries
The new duties are set to replace a 10% global tariff that was due to expire early Friday, and they are tied to Section 301 claims related to forced labor.
The Trump administration will impose new tariffs ranging from 10% to 12.5% on more than 80 countries, according to the US trade representative, as the administration replaces a prior 10% global duty that was set to expire early Friday morning. The measure is described as the latest step in the administration’s trade agenda.
The tariffs would be implemented under Section 301 of the Trade Act of 1974, which targets countries that the US says engage in forced labor. US trade representative Jamieson Greer said the action is intended to address human rights abuse and what he characterized as distortive trade practices, and he called attention to trading partners that have moved quickly to adopt forced labor import prohibitions.
The Guardian Business notes the tariff program has faced legal and political setbacks since being introduced last year, including a damaging blow in February when the US Supreme Court ruled that many of those tariffs were illegal. After that ruling, the US replaced many of the previous tariffs with a 10% regime covering much of the world, but those duties are due to expire.
While supporters have said the tariffs are aimed at revitalizing US industrial regions and boosting jobs, critics have warned they could raise consumer prices. In testimony before US senators on Wednesday, Greer said core inflation had fallen to 2.6% year on year, while overall inflation remains slightly higher than it was when Joe Biden left office, according to the report.