Trump's Tariffs Affect 60 Economies, Ranging 10%-12.5% Duties

The U.S. Office of the Trade Representative has imposed tariffs on 60 economies, with rates set at 10% for those complying with forced-labor prohibitions, and 12.5% for those that do not. These duties cover 99.4% of American imports, replacing a temporary 10% global tariff that expires on July 24. Trade partners, including Australia, Brazil, and Canada, have expressed their opposition and plan to negotiate rather than retaliate. This action follows a Supreme Court ruling against previous emergency tariffs, establishing a more sustainable legal basis for these new duties, which may impact U.S. trade relations and market dynamics.