Trump to slap 'sweeping' new tariffs on 60 trade partners as global duties expire

• The new tariffs apply to 60 countries plus the EU and take effect as Trump's temporary 10% global tariffs under Section 122 expire after 150 days
• Duties are being imposed under Section 301 of the Trade Act of 1974, one of the tools Trump has used since the Supreme Court struck down his 'liberation day' tariffs on Feb. 20
• The administration also recently imposed tariffs on Brazil (effective Wednesday) and announced 50% tariffs on a wide range of goods set to begin next month

Summary

Trump Administration Implements New Tariff Regime on 60 Countries

President Trump will impose tariffs ranging from 10% to 12.5% on 60 trade partners and the European Union, effective 12:01 a.m. ET Friday. These duties replace expiring temporary 10% global tariffs and will cover over 99% of U.S. trade.

Key Details:

• The tariffs are imposed under Section 301 of the Trade Act of 1974, citing forced-labor violations
• Administration officials describe this as "the most sweeping international labor rights action" ever taken by any country
• The new tariffs will not stack on top of existing steel and aluminum Section 232 duties
• Revenue estimates were not provided by the Office of the U.S. Trade Representative

Background Context:

The move follows the Supreme Court's February 20 strike-down of Trump's global "liberation day" tariffs. In response, Trump imposed a 150-day worldwide 10% tariff under Section 122, which expires as the new tariffs take effect. The administration initiated forced-labor investigations in March, alongside a separate probe into excess manufacturing capacity by 16 economies that remains unfinalized.

Recent Tariff Activity:

• New tariffs on Brazil took effect Wednesday
• 50% tariffs on unspecified goods scheduled for next month

Market Implications:

The Trump administration continues its aggressive protectionist trade policy, using tariffs as leverage tools and revenue generators. Critics maintain these measures ultimately tax U.S. importers and increase consumer prices. U.S. Trade Representative Jamieson Greer confirmed the administration's commitment to using tariffs to support domestic reindustrialization, protect workers, increase wages, and reduce the trade deficit.