US to impose new tariffs of up to 12.5% on 60 trading partners, including Thailand, on Friday

Key facts

• The United States on Friday will impose new tariffs of either 10% or 12.5% on goods from its top 60 trading partners, including China, Japan and Thailand, officials said, citing their alleged failure to adequately ban the import of goods
• Thursday's announcement came ahead of the expiration of the 10% global tariff that President Donald Trump introduced in February shortly after the Supreme Court invalidated his sweeping country-specific "reciprocal"
• The targeted trading partners, also including Australia, Indonesia, the Philippines, Switzerland, Taiwan and Thailand, account for about 99% of US imports, according to the Office of the US Trade Representative.
• While most of the US partners will be hit by new 12.5% tariffs, about 20 others, including Britain, Indonesia, Malaysia and Mexico, will face duties of 10% as the administration views them as having taken greater legal steps to prevent the
• But the two countries will receive special treatment, with items already subject to tariffs of 12.5% or higher being exempted from the new measure.
• Unlike the US allies, China will not receive preferential treatment, meaning the new tariff of 12.5% will be added on top of existing import taxes.