New duties target imports from the UK, EU, China, and others following a forced labor supply chain investigation.
The US will impose tariffs ranging from 10% to 12.5% on imports from key trading partners, including the UK, EU, China, and Japan, effective Friday. The move replaces expiring 10% temporary levies and follows an investigation into forced labor practices in supply chains affecting US workers.
Goods from Mexico, Canada, and India will face 10% tariffs, while products from the EU, Taiwan, Japan, Switzerland, and South Korea will be taxed at 10% to 12.5%, aligning with existing trade agreements. Dozens of other economies will incur a 12.5% charge, marking the largest expansion of Trump’s tariff policies since a Supreme Court ruling.
The US Dollar Index (DXY) edged down 0.02% to 101.43 following the announcement.