The Trump administration has imposed new tariffs on approximately 60 trading partners starting Friday, citing the fight against forced labor in supply chains as justification. These tariffs, based on Section 301 of the 1974 Trade Act, replace the universal 10% surcharge that courts struck down earlier, with about 15 countries facing 10% duties and 38 others subject to 12.5% rates. The White House is circumventing its February court defeat while maintaining tariff pressure on all trading partners. Without any grace period announced, American businesses will have to absorb or pass on these costs, potentially fueling domestic inflation ahead of the midterm elections.
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