Trump Imposes New Tariffs on Nearly All US Imports

The Trump administration has imposed new tariffs on imports from 60 countries, affecting nearly all US imports. The tariffs range from 10% to 12.5% and will replace temporary import taxes that expired early Friday morning. According to US Trade Rep. Jamieson Greer, the targeted countries have not adequately enforced bans on goods produced by forced labor.

The new tariffs account for 99% of US imports and exempt products like oil, gas, and fertilizer from the tax. Goods that qualify for duty-free status under the U.S.-Mexico-Canada Agreement are also excluded. The US trade representative's office is investigating whether 16 countries have overproduced goods, potentially putting US companies at a disadvantage in the global market.

Critics of the tariffs argue that American consumers could face higher prices if companies increase costs to make ends meet. Trump's handling of the economy faces scrutiny ahead of this fall's midterm elections, with polling showing his approval rating on the economy is falling.