US Imposes Tariffs on 60 Countries Amid Global Trade Tensions

The US government has imposed new tariffs on goods from 60 countries, including major trade partners like the EU and China. The tariffs, ranging from 10% to 12.5%, are aimed at addressing issues of forced labor in supply chains.

These measures come after the expiration of a temporary global tariff exemption. The decision follows claims by the US that these tariffs target human rights abuses, although many international partners dispute this claim, arguing that they serve as a disguised economic barrier.

Financial markets have shown limited reaction to the news, with attention focused on Middle East developments. Exemptions to the tariffs include oil, gas, and certain food products under Section 301 of the Trade Act of 1974.