U.S. President Donald Trump is imposing new tariffs of between 10 and 12.5 percent on 60 economies, effective Friday. The measure replaces the temporary tariffs that are set to expire—and is based on a new legal basis following a previous Supreme Court ruling.
The new tariffs cover about 99 percent of U.S. imports. The Trump administration states that the aim is to combat forced labor in global supply chains.
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