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[BUSINESS] · United States, Canada, Mexico, China, Japan · 30 sources

Trump imposes new 10‑12.5% tariffs on 60 countries, sparking global criticism

The United States announced a fresh round of tariffs covering 60 trading partners, imposing duties of 10% or 12.5% on most imports. The measures target 99% of U.S. imports and are justified by the administration as a response to inadequate enforcement of forced‑labor bans. The tariffs replace a temporary 10% surcharge that expired after a Supreme Court ruling struck down earlier global tariffs as illegal. U.S. Trade Representative Jamieson Greer said the new duties are based on Section 301 and other trade statutes. Immediate objections came from major partners – the European Union, Japan, Australia, New Zealand, China, Canada, Mexico, Brazil and others – who called the tariffs “unjustified” and threatened retaliation. The European Commission noted that a 10% rate for EU goods aligns with existing trade agreements, while Australia’s trade minister called the measures “completely unjustified.” Domestic critics and a libertarian‑leaning law firm have filed lawsuits challenging the legality of the duties. President Trump defended the tariffs as essential for “strengthening the U.S. economy,” claiming they attract trillions of dollars in investment, even as analysts warn higher import costs could raise consumer prices and affect sectors such as cryptocurrency mining.

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about 6 hours ago