WASHINGTON: The United States administration will announce new customs duties on foreign goods in response to tariffs and other trade barr...
WASHINGTON: The United States administration will announce new customs duties on foreign goods in response to tariffs and other trade barriers imposed by numerous countries, including longtime American allies.
The White House has not yet disclosed the exact tariffs or their calculation method, and initially, no exceptions will be granted. US President Donald Trump is expected to personally announce the details of the restrictions.
According to Bloomberg, the duties will account for non-tariff trade barriers from other nations and will be applied in a targeted manner. The president plans to broadly impose retaliatory tariffs on states and trade blocs, though exemptions may apply to countries that have not levied duties on US goods and with which the US maintains a trade surplus.
The new fees will mirror the rates imposed by other countries and factor in foreign subsidies. Sources indicate that presidential aides considered a three-tiered duty system, grouping nations based on the severity of their trade barriers as perceived by the US administration.
Bloomberg notes that the additional tariffs risk further straining relations with allies and triggering retaliatory measures, potentially escalating trade tensions.
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