New duties target a broad range of imports, escalating trade tensions ahead of key economic meetings next week.
The U.S. imposed tariffs ranging from 10% to 12.5% on imports from 60 trading partners, including neighbors like Canada and Mexico. The move, enacted under Section 301, expands existing trade barriers without specifying product categories or affected volumes.
Previous tariff rounds focused on China and select industries, but this action broadens the scope to include allies and emerging markets. Analysts note the timing coincides with upcoming G20 discussions, potentially complicating negotiations.
Markets showed muted reaction in early trading, though futures on industrial metals and equities dipped slightly on supply chain concerns.