US: new tariffs ranging from 10% to 12.5% imposed on 59 countries plus the EU over forced labour
Effective from today
(Il Sole 24 Ore Radiocor) - The United States has announced new tariffs against 59 countries plus the EU, which, as of midnight US time yesterday, replace the 10 per cent tariffs due to expire. The tariffs now range from 10 per cent to 12.5 per cent and were imposed under the Trade Act of 1974, which allows the President to take anti-discriminatory retaliatory measures against products not made in the US following investigations. Although Canada already has legislation in place against forced labour in supply chains and the EU has a ban set to come into force in December 2027, the White House accuses them of failing to enforce these prohibitions, thereby penalising US manufacturers and workers. Countries that have adopted legislation against forced labour are subject to tariffs capped at 10 per cent; others face tariffs of 12.5 per cent. For the EU, tariffs could remain below the 15 per cent ceiling set by the 2025 agreement. Excluded are steel and aluminium, food and agricultural goods, fertilisers and energy.
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