New 10% and 12.5% tariffs target alleged weak enforcement of forced labor bans, affecting the EU and others starting Friday.
The Trump administration will impose new tariffs of 10% and 12.5% on 60 trading partners, including the European Union, effective Friday. The move targets countries accused of insufficiently enforcing bans on forced labor, coinciding with the expiration of a temporary 10% global tariff.
The penalties follow prior trade actions and come amid broader tensions over labor standards and trade policies. Analysts had anticipated potential tariff adjustments but not the breadth of countries affected. The timing may escalate trade disputes ahead of key economic negotiations.
Markets are monitoring the impact on supply chains and bilateral trade relations, particularly with major partners like the EU.