US imposes new tariffs on 60 trading partners covering 99% of its trade

The United States announced fresh import duties affecting roughly 60 foreign trading partners, representing about 99.4% of American import volume. The new rates vary between 10% and 12.5% and took effect after the expiry of a temporary 10% tariff that had been in place since February.

The tariffs are justified by the Trump administration as a response to alleged forced‑labour practices in the supply chains of the targeted nations. The European Union, China, Japan, Switzerland, Finland and other partners have been named, with Switzerland specifically hit by a 12.5% duty on certain products. EU officials said the measures align with prior Section 301 investigations, while some governments, such as China, have called the actions unjustified and plan to seek removal.

Analysts note that the duties are likely to be passed on to U.S. consumers, raising import prices and potentially affecting American manufacturers that rely on imported inputs. Market reaction included a modest rise in U.S. Treasury yields, while the overall economic impact remains under close observation.