US Imposes New Tariffs on 60 Trading Partners

The Trump administration announced a new round of tariffs of as much as 12.5% on 60 trading partners on Thursday. The new tariffs take effect at 12:01 a.m. ET on Friday, precisely when the temporary duties end. This move shows the White House's determination to sustain its tariff agenda as it turns to new trade laws as earlier authorities run their course or face legal challenges.

The tariffs stem from a Section 301 of the Trade Act of 1974 investigation launched by U.S. Trade Representative Jamieson Greer in March into whether trading partners had failed to effectively block goods made with forced labor. USTR concluded in June that those practices unfairly burden U.S. commerce, clearing the way for the U.S. to impose tariffs. Countries that have adopted a ban on forced labor, but that the U.S. judges are not enforcing effectively, will face a rate of 10%. Other nations' goods will be subject to a rate of 12.5%.

Oil and gas, certain fertilizers and some food products are among the goods exempted, reflecting concerns about economic disruption. The administration has been searching for more durable legal footing to impose its tariffs since the Supreme Court ruled earlier this year that the International Emergency Economic Powers Act (IEEPA) doesn't authorize the president to impose import duties.