The Trump administration announced that it will implement new tariffs on 60 countries due to alleged forced-labor violations, effective just after midnight ET. These tariffs, set between 10% and 12.5%, will replace the temporary 10% global tariffs that are set to expire simultaneously. The Office of the U.S.
Trade Representative did not provide an estimate on the revenue these new tariffs might generate. This move is notable as it covers more than 99% of U.S. trade, which could lead to increased trade tensions and affect various sectors reliant on international trade