New U.S. Tariffs Hit China, Mexico, Canada and 57 Other Economies

Breaking trade news: the Trump administration has restored a near-universal tariff floor on U.S. imports, rolling out a new Section 301 tariff regime covering 60 economies that account for 99.4% of everything the U.S. imports. What Happened The new duties took effect at 12:01 a.m. EDT Friday, replacing the administration’s temporary 10% global tariff after its 150-day run expired. Tariffs range from 10% to 12.5%, hitting major trading partners including China, Mexico, Canada, the EU, India and Vietnam. Unlike the emergency-powers tariffs the Supreme Court struck down earlier this year, this round is built on Section 301 investigations opened in March into whether 60 economies are failing to enforce forced-labor