US: Trump prepares new tariffs on dozens of countries (FT)

(Il Sole 24 Ore Radiocor) - Donald Trump is set to impose new tariffs on dozens of countries as early as this week, despite advisers warning him of the risks of economic shocks in the run-up to the mid-term elections. This is according to the Financial Times. US officials have drawn up several options to enable Trump to introduce new tariffs, with the 10 per cent tariffs due to expire this week, according to informed sources. On Monday, Trump announced 50 per cent tariffs on Canadian goods, having already hit Brazilian imports with a 25 per cent tariff. The new tariffs come after the Supreme Court struck down the tariffs introduced by Trump and the increase to 10 per cent. The new set of tariffs would be introduced following an investigation into forced labour practices, allowing Trump to avoid resorting to the emergency powers that were struck down by the Supreme Court.

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