#UStoImpose10To12.5PercentTariffsOn60Economies

New U.S. Tariffs Imposed on 60 Economies, Will Impact World Trade As seen around the globe, the United States has shifted its global trade policy by imposing new tariffs of 10% and 12.5% on 60 economies across the world. The announcement was released this Thursday (24th), and takes affect at 12:01 am Eastern time this Thursday.

Based on official statements made by the USTR (United States Trade Representative), the trade policy update will include a section 301 investigation regarding forced labor, with a whole new globaltariff structure in place which currently makes up 99.4 percent of the U.S.-bound trade value.

It includes the following changes for affected economies: European Union: between 10% and 12.5%. Japan: between 10% and 12.5%. Switzerland: between 10% and 12.5%. South Korea: between 10% and 12.5%.

China: 12.5% Canada: 10% Mexico: 10% United Kingdom: 10% India: 10% In this new, broad-based strategy, a list of exemptions include goods like fuel, fertilizers, foods and goods that are covered by sector-specific tariffs like metals, automobiles, pharmaceuticals and products that fall under USMCA agreement.

Global supply chains, business costs and, to a great extent, the world economy might face new difficulties. The business environment, including stocks, currencies, commodities and international flows may be drastically impacted by such changes. These new tariffs will shape the business environment going forward as trade is one of the most dominant factors defining how these market segments move.

How will this new trade tariff strengthen US industries, or increase pressure on global trade and economic growth? Share your view below!

‍#GlobalTrade #Economy #GateSquare