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FinanceThe Trump administration has imposed new tariffs of 10% to 12.5% on imports from more than 80 countries, replacing a temporary 10% global duty that expired. The tariffs are justified under Section 301 of the Trade Act of 1974, citing trading partners' failure to prevent forced labor. This follows a Supreme Court ruling that struck down earlier emergency tariffs. Retailers, already under pressure from years of geopolitical disruption, face higher costs and limited low-cost sourcing alternatives. The White House frames the move as a human rights initiative, but critics including the EU, Canada, Australia, and Brazil have condemned it. Retailers may absorb costs, renegotiate with suppliers, or pass increases to consumers. The tariffs add uncertainty to supply chains already strained by the pandemic, Red Sea disruptions, and geopolitical tensions.
Forbes - BusinessWestern
Trump Imposes Sweeping New Tariffs on 60 Trade Partners Over Forced Labor