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Economy04:28 · Jul 24

US Imposes New Tariffs on 60 Trade Partners Including Israel Over Forced Labor Concerns

MakoCenter
Translated & summarized from Mako by baba
The story · English

The United States government, under President Donald Trump, has imposed new tariffs on 60 major trade partners, including Israel, China, the European Union, the UK, Canada, Japan, and India. These countries collectively account for 99.4% of US imports. The tariffs, ranging from 10% to 12.5%, were introduced before the expiration of previous tariffs, citing insufficient efforts by these nations to prevent imports produced through forced labor.

Countries that have committed to banning imports made with forced labor will face a 10% tariff, while others will be charged 12.5%. This move escalates the Trump administration's trade policy since his return to office last year. The new tariffs follow a legal setback in February when the US Supreme Court ruled that earlier tariffs imposed under emergency powers were unlawful.

The expiration of a temporary 10% tariff triggered the implementation of this new framework focused on forced labor. Earlier in the week, the administration also imposed a separate 50% tariff on Canadian products under a different legal provision, further intensifying trade tensions. This strategy reflects the administration's attempt to establish a new legal basis for tariffs after previous ones were invalidated by the courts.

Read the original at Mako
Full coverage · 8 outlets
50% centerFirst: Ynet · Jul 24

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