US brings in new wave of tariffs on 60 trading partners; 10% to 12.5% on 99% of imports

The US administration brought into force a new wave of import tariffs announced on Thursday, 23 July (1 Mordad), with rates of 10% to 12.5% on dozens of trading partners from Europe and China to India. According to reports, the 12.5% rate applies to countries such as China, Australia and Egypt, and the 10% rate to the European Union, Indonesia and Mexico.

The tariffs, imposed under Section 301 of the 1974 Trade Act following an investigation into forced labor, cover goods equal to about 99.4% of US imports from 60 partners. The move coincides with the lapse of an earlier near-blanket 10% tariff that the US Supreme Court had ruled unlawful.