Trump imposes double-digit tariffs on countries before Friday deadline

Key Points:

• President Donald Trump is implementing new tariffs of 10% to 12.5% on imports from 60 trading partners, accusing them of failing to enforce bans on goods produced by forced labor, as previous temporary tariffs expire.
• The tariffs are imposed under Section 301 of the Trade Act of 1974, allowing the president to target countries with unfair trade practices; this follows the Supreme Court ruling that invalidated tariffs imposed under the International Emergency Economic Powers Act (IEEPA).
• Several countries, including Brazil and Chile, have condemned the tariffs as unjustified and plan to challenge them through retaliatory measures or at the World Trade Organization.
• Critics argue that the forced labor justification is being used as a pretext for tariff policies, while human rights advocates acknowledge the tariffs could raise awareness and pressure countries to enforce import bans on forced labor goods.
• The tariffs exempt certain products like oil, gas, and fertilizers, as well as goods covered by the US-Mexico-Canada Agreement, but risk increasing costs for American consumers ahead of the 2022 midterm elections.