The Japan Times - US unveils new tariffs on 60 partners as Trump rebuilds trade agenda

EUR -
AED 4.095102
AFN 72.480008
ALL 90.801688
AMD 402.807486
ANG 1.995737
AOA 1023.635334
ARS 1721.721299
AUD 1.61933
AWG 2.007127
AZN 1.900047
BAM 1.955836
BBD 2.250342
BDT 139.162586
BGN 1.948955
BHD 0.422108
BIF 3342.96213
BMD 1.115071
BND 1.431727
BOB 13.402249
BRL 6.138357
BSD 1.117321
BTN 104.873949
BWP 15.391286
BYN 3.345962
BYR 21855.38619
BZD 2.247142
CAD 1.573644
CDF 2586.964483
CHF 0.914162
CLF 0.027822
CLP 1094.980351
CNY 7.444774
CNH 7.438418
COP 3608.76707
CRC 506.709417
CUC 1.115071
CUP 26.815498
CVE 110.267049
CZK 24.346956
DJF 198.963698
DKK 7.480457
DOP 67.891262
DZD 151.940824
EGP 59.957114
ERN 16.726061
ETB 183.378708
FJD 2.526309
FKP 0.834974
GBP 0.834166
GEL 2.893653
GGP 0.834974
GHS 13.055243
GIP 0.834974
GMD 83.077063
GNF 9896.183924
GTQ 8.538159
GYD 234.234353
HKD 8.744429
HNL 30.029558
HRK 7.547925
HTG 146.432722
HUF 363.51345
IDR 20192.258205
ILS 3.552538
IMP 0.834974
INR 104.716854
IQD 1693.83148
IRR 2108992.359359
ISK 136.919964
JEP 0.834974
JMD 177.323296
JOD 0.790629
JPY 176.710877
KES 145.192698
KGS 97.510486
KHR 4552.084602
KMF 492.86165
KPW 1003.563608
KRW 1520.737678
KWD 0.346765
KYD 0.931217
KZT 500.809308
LAK 25136.46717
LBP 100053.859534
LKR 371.556906
LRD 189.94353
LSL 18.477643
LTL 3.292514
LVL 0.674496
LYD 7.150133
MAD 10.921803
MDL 19.971371
MGA 5077.094359
MKD 61.556144
MMK 2341.587311
MNT 4015.514918
MOP 9.019368
MRU 45.108838
MUR 52.442198
MVR 17.176258
MWK 1937.436008
MXN 20.766565
MYR 4.528864
MZN 71.257178
NAD 18.477643
NGN 1502.23485
NIO 41.120764
NOK 10.548462
NPR 167.798119
NZD 2.015128
OMR 0.428348
PAB 1.117421
PEN 3.848972
PGK 5.092095
PHP 70.369926
PKR 309.016043
PLN 4.399568
PYG 6984.129802
QAR 4.084276
RON 5.343646
RSD 117.622186
RUB 91.352798
RWF 1649.13065
SAR 4.188587
SBD 8.974739
SCR 15.358485
SDG 670.719139
SEK 11.033072
SGD 1.430306
SHP 0.835103
SLE 25.591287
SLL 23382.48045
SOS 638.511867
SRD 41.908265
STD 23079.712667
STN 24.500455
SVC 9.776182
SYP 14498.149201
SZL 18.471343
THB 37.411034
TJS 10.307092
TMT 3.902748
TND 3.343362
TOP 2.684822
TRY 55.9111
TTD 7.577141
TWD 36.546782
TZS 2952.454872
UAH 50.616941
UGX 4570.084937
USD 1.115071
UYU 44.950835
UZS 13332.247784
VES 999.456181
VND 28526.296796
VUV 132.393741
WST 3.108622
XAF 655.957
XAG 0.021465
XAU 0.000274244363
XCD 3.013535
XCG 2.013637
XDR 0.788413
XOF 655.957
XPF 119.331742
YER 263.853652
ZAR 18.420333
ZMK 10036.978597
ZMW 22.703422
ZWL 359.052318
SSP 6406.340367
MXV 2.33632
  • RYCEF

    0.1000

    19.81

    +0.5%

  • VOD

    -0.2500

    16.33

    -1.53%

  • CMSC

    -0.2800

    20.12

    -1.39%

  • RBGPF

    -2.0000

    65

    -3.08%

  • RIO

    -0.2500

    94.16

    -0.27%

  • BTI

    -1.2000

    54.85

    -2.19%

  • NGG

    -0.3000

    74.94

    -0.4%

  • GSK

    -0.3500

    49.35

    -0.71%

  • BCE

    -0.4200

    20.14

    -2.09%

  • CMSD

    -0.3400

    19.93

    -1.71%

  • BP

    -0.9100

    43.52

    -2.09%

  • RELX

    0.1700

    33.24

    +0.51%

  • BCC

    -0.6200

    75.97

    -0.82%

  • AZN

    -1.9400

    164.21

    -1.18%

  • JRI

    0.0000

    10.77

    0%

US unveils new tariffs on 60 partners as Trump rebuilds trade agenda
US unveils new tariffs on 60 partners as Trump rebuilds trade agenda / Photo: SAUL LOEB - AFP/File

US unveils new tariffs on 60 partners as Trump rebuilds trade agenda

The United States said Thursday that it would impose new tariffs on 60 trading partners over forced labor concerns, replacing an expiring global duty rolled out by President Donald Trump earlier this year.

Text size:

The levies, which take effect Friday, range from 10 percent to 12.5 percent and impact major economies like China, India and the European Union.

"The United States has had a forced labor import ban for nearly a century, and rigorously enforces it; it's well past time for our trading partners to do the same," said US Trade Representative Jamieson Greer in unveiling the duties.

The Trump administration has moved swiftly to rebuild the president's tariff wall after the Supreme Court struck down a host of his duties in February -- dealing a blow to his ability to unleash steep levies at will.

After the legal setback, Trump tapped different authorities to reimpose a 10-percent tariff on imports. But this only lasts 150 days, expiring Friday.

The volley of new duties, initially proposed in June, will now take its place.

The measures were proposed after a months-long investigation and are considered more resistant to legal challenges than earlier moves.

Under Thursday's announcement, economies that have implemented a forced labor prohibition are hit with the lower 10-percent rate. They include Canada, the EU and the United Kingdom.

Others were deemed to deserve harsher levies, receiving the higher 12.5 percent tariff, a US official told reporters. Trading partners like China and Japan are covered in this group.

Goods already facing Trump's sector-specific tariffs -- like steel and aluminum -- will not be impacted.

Goods entering under the US-Mexico-Canada free trade pact will also be exempt, a US official told reporters.

- Maintaining leverage -

Washington is separately investigating 16 economies over excess industrial capacity, in probes that could lead to additional duties.

These could result in different rates among countries eventually, as Trump had done before his legal setback.

The Trump administration's move to impose a baseline tariff while sustaining the threat of further duties ahead maintains leverage over its trading partners, trade lawyer Greta Peisch told AFP.

It also creates an incentive for countries to comply with trade pacts that they earlier struck, she added.

In spending time on investigations, officials want their incoming tariffs to be robust if there are court challenges, said Peisch, a former USTR general counsel who is now a partner at Wiley Rein.

"This makes it much more likely that they stay for the duration of Trump's term," signaling a "much more protectionist world's largest economy" moving forward, Josh Lipsky of the Atlantic Council think tank told AFP.

The Trump administration has been hunting for options that would allow it to aggressively deploy tariffs, said former US trade official Ryan Majerus.

In the longer term, Section 301 of the Trade Act of 1974, which Greer tapped to impose the latest duties, provides "more flexibility than people realize," Majerus said.

Once they are in place, officials can modify them based on new developments, added Majerus, a partner at King & Spalding.

- 'Fragile' deals -

The latest salvo comes shortly after a separate 25-percent tariff took effect on various Brazilian goods, with Washington accusing the Latin American giant of unfair trade practices after a yearlong investigation.

This week, Trump also ordered new 50-percent tariffs on many Canadian products, citing Ottawa's "discriminatory treatment" against American alcohol, automobile and dairy products.

The Canadian tariffs taking effect in a month relied on an untested legal provision, showing that Trump has "other tools in the toolkit" to wield, said Lipsky.

This signals that US tariff deals "are still fragile."

Nonetheless, the EU, which earlier signed a trade pact with the United States, expects Washington "will honor the commitments that are spelled out under the EU-US Joint Statement."

Y.Kato--JT