Trump's New Tariffs Ensnare 99.4% of US Imports
US President Donald Trump's new tariffs have taken effect, covering nearly all US imports and affecting over 60 trading partners. The tariffs range from 10% to 12.5% and target countries that allegedly fail to curb imports made with forced labor.
The White House claims the measures are aimed at addressing 'human rights abuses' and 'distortive trade practices.' However, critics argue the policy is a broader trade strategy.
Trade experts question the administration's explanation, suggesting that officials are looking for a legal reason to maintain broad import duties. The UK faces a 10% baseline tariff, while Brazil calls its 12.5% rate 'unjustified.'
The new tariffs could raise import costs, fuel inflation, and shape sentiment across stock and crypto markets. Oil prices remain a key factor, with Goldman Sachs predicting Brent crude to reach $120 a barrel by year-end.