Trump tariffs of 10% to 12.5% hit imports from 60 trade partners
Why it matters: The levies cover about 99% of U.S. imports, raising the risk of higher consumer prices as inflation stays elevated.
New U.S. tariffs of 10% to 12.5% took effect Friday on goods from 60 trading partners, extending duties across nearly all imports after the Supreme Court struck down an earlier tariff program. The Trump administration used Section 301 of the Trade Act of 1974 and said the measures respond to failures by some countries to block forced-labor-linked imports. Seventeen partners, including Canada, India, Indonesia, Mexico and the United Kingdom, face 10% tariffs, while 41 others, including China, Japan, South Korea, Brazil and Russia, face 12.5%. The European Union and Taiwan also face 10% duties. Economists and trading partners warn the tariffs could push up costs for U.S. shoppers.