White House · Donald Trump · U.S. · Fortune Technology
Trade war is back on as White House floats a new minimum 10% tariff plan—with carveouts for coffee, beef, and microchip suppliers
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President Trump’s team is once again ruffling international feathers with a new plan for import tariffs imposed on 60 trade allies, facing levies of either 10% or 12.5%.
Key facts
- President Trump’s team is once again ruffling international feathers with a new plan for import tariffs imposed on 60 trade allies, facing levies of either 10% or 12.5%
- However, the Trump administration has a significant financial hole to fill: In February this year, the U.S. Supreme Court ruled against a tranche of tariffs the White House had rolled out in 2025
- In an update released overnight, the United States Trade Representative claimed several trade partners had failed to effectively handle goods produced with forced labor, which were therefore subject
- The report suggests that economies that have undertaken commitments or actioned policy against forced labor—Canada, Mexico, the EU and the UK among them—should be subject to a 10% tariff
Summary
In an update released overnight, the United States Trade Representative claimed several trade partners had failed to effectively handle goods produced with forced labor, which were therefore subject to action under Section 301(b) of the Trade Act. The report suggests that economies that have undertaken commitments or actioned policy against forced labor—Canada, Mexico, the EU and the UK among them—should be subject to a 10% tariff. Despite a raft of deals being signed since President Trump’s “Liberation Day” tariffs in April 2025, the goalposts seem to be changing once again for foreign allies attempting to do business with the U.S. Already, Trump’s protectionist scheme has resulted in a tit-for-tat trade war with China, as well as barbed exchanges with the likes of European Commission President, Ursula von der Leyen.
The new bevy of tariffs comes with an interesting footnote: An annex of exceptions from the additional duties.