Trump announces tariffs of 10 and 12.5% ??on 60 countries; Mexico is included
Trump will apply new tariffs of between 10 and 12.5% ??to 60 countries as part of a US measure against products made with forced labor
President Donald Trump's government announced that it will begin applying new tariffs of between 10 and 12.5% on products from dozens of countries starting this Friday, July 24, as part of a measure related to investigations into the use of forced labor in international supply chains. The Office of the United States Trade Representative (USTR) reported that the new tariffs will replace an expiring tariff that was implemented earlier this year by President Donald Trump. According to dependency, the measure contemplates 60 trading partners and the rate will depend on the actions that each economy has taken to prohibit the importation of goods produced through forced labor. Countries that have adopted and applied prohibitions to prevent the entry of products manufactured with forced labor will have a tariff of 10%, however, those that have not established this type of restrictions will face a tariff of 12.5 percent. The USTR noted that these actions derive from investigations carried out under Section 301 of the United States Trade Law, focused on determining whether the analyzed economies have effective measures against the importation of products manufactured under these conditions.
Mexico is among the countries included in the measure
Among the economies considered within the tariff scheme is Mexico, along with countries such as Canada, Argentina, India, Indonesia, Malaysia, the United Kingdom, Japan, Korea, Switzerland and members of the European Union.