US Unveils Broadened Tariffs on 60 Trading Partners Amid Trade Policy Shift

The US has introduced revised tariffs on imports from 60 trading partners, marking a renewed escalation in its trade policy. The new framework replaces the previous temporary universal 10% tariff with rates ranging between 10% and 12.5%, depending on the country and product category.

Crude oil, natural gas, and liquefied natural gas (LNG) remain exempt from the tariffs to safeguard domestic energy supplies. However, several products supporting the LNG value chain may still be impacted by separate tariff measures introduced under different US trade authorities.

The revised tariffs also include a reduction in the 15% tariff on industrial equipment. The expanded list now includes mobile construction and industrial machinery such as bulldozers and forklifts, but manufacturers can qualify for a reduced 10% tariff if at least 85% of the steel or aluminum used originates from the United States.

The European Union has responded to the evolving US trade measures, with Washington expected to reduce tariffs on steel and aluminum derivative products. Failure to comply could prompt the EU to suspend certain trade concessions granted to the United States.