Trump plans new tariffs on 60 countries just because
Just when global trade thought it could catch its breath for five minutes, the tariff cannon is being rolled right back out.
The temporary 10% global tariffs were set to expire, and the Supreme Court had already kneecapped the administration's broad emergency trade powers earlier this year. Naturally, the solution was simply finding a back door.
White House officials mapped out an escape route: imposing new 10% to 12.5% duties on goods from around 60 nations under the guise of forced labor investigations. That neatly dodges the judicial roadblocks and keeps the tariff train rolling.
Behind the scenes, economic advisers have been begging for sanity, urging the president to protect existing trade truces instead of igniting fresh fires. Meanwhile, parallel trade probes are already sizing up the European Union, China, and Japan.
Global supply chains will keep pretending this is totally fine until shipping a container costs more than the cargo inside it.
Source: FT
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