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US hits dozens of countries with new wave of tariffs
BBC • • general
Key Points:
- The US has imposed new tariffs of 10% to 12.5% on goods from 60 major trading partners, including the UK, China, and the EU, citing failures to address forced labour, replacing a similar expiring levy.
- Experts suggest the forced labour justification is a legal pretext, with the primary goal being to reduce the US trade deficit and support domestic manufacturing, continuing the Trump administration's tariff strategy.
- The new tariffs cover 99.4% of US imports and are expected to raise costs for businesses and consumers, though exemptions may soften the impact; many affected countries are likely to seek alternative trade partnerships to reduce dependence on the US.
- The UK faces a relative disadvantage compared to the EU, which benefits from a 10% all-inclusive tariff deal, while the UK faces additional tariffs on top of individual duties, causing concern among British businesses.
- Several countries, including Brazil, Japan, Australia, and China, have criticized the new tariffs as unjustified or politically motivated, while human rights groups maintain concerns about forced labour practices in China.
