- President Donald Trump is implementing new tariffs ranging from 10 percent to 12.5 percent on imports from 60 countries, effective this Friday.
- These tariffs, which will apply to 99 percent of U.S. imports, are being imposed due to allegations of inadequate enforcement of bans on goods produced by forced labor.
- The new levies replace temporary worldwide tariffs that expire Friday and are enacted under Section 301 of the Trade Act of 1974.
- Certain products, including oil, gas, fertilizer and those covered by the U.S.-Mexico-Canada Agreement, are exempt from these new import taxes.
- While these tariffs may lead to higher consumer prices, human rights organizations suggest they could serve as an effective tool in combating forced labor globally.
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