Donald Trump prepares new tariffs on 60 countries

President Donald Trump is set to revive a broad trade‑war by imposing new tariffs on roughly 60 foreign trading partners as the temporary 10 % global surcharge expires this Friday. The administration plans duties of 10 % to 12.5 % that would be justified under a forced‑labour investigation conducted per Section 301 of the Trade Act, with additional inquiries that could allow higher rates. Advisors are urging caution ahead of the November mid‑term elections, warning that aggressive moves could shock the U.S. economy.

In parallel, the White House has announced a separate 50 % tariff package targeting Canadian products such as wine, cheese and hockey equipment, relying on the rarely used Section 338 of the 1930 Tariff Act. The measure threatens a retaliation cycle and adds pressure to the ongoing US‑Mexico‑Canada trade negotiations. The proposed tariffs would affect major economies including the European Union, China, Japan, India and others, potentially raising import prices for American consumers and straining international supply chains.