The United States is preparing to impose a new wave of tariffs on approximately 60 countries, with duties ranging from 10% to 12.5%, targeting nations accused of tolerating forced labour.
US Trade Representative Jamieson Greer signalled the imminent move on Tuesday, indicating that the administration is finalising the list of affected jurisdictions.
This development marks a significant escalation in US trade policy, moving beyond the temporary 10% global tariff that has been in place.
This development marks a significant escalation in US trade policy, moving beyond the temporary 10% global tariff that has been in place.
The new measures are framed around human rights concerns, specifically forced labour, but will have broad economic implications for global supply chains and trade flows.
The scope of the tariffs, covering dozens of countries, suggests a comprehensive review of trading partners' labour practices.
Markets are likely to react to the increased uncertainty and potential cost increases for imported goods.