WASHINGTON (AP) — President Donald Trump is going ahead with new double-digit tariffs on dozens of U.S. trading partners just as the clock runs out Friday on stopgap levies he imposed after a stinging defeat at the Supreme Court.
The United States will slap taxes of 10% to 12.5% on imports from 60 trading partners accounting for 99% of U.S. imports, charging that they have inadequately enforced bans on goods produced by forced labor.
According to the Guardian:
“Canada, Mexico, Australia, EU, UK and China among dozens of economies listed in US president’s renewed effort of near-global import taxes after supreme court struck down his ‘liberation day’ tariffs”
These countries may now trade even more with each other, leaving the US out. This can pretty well backfire on US economy and I hope, not for the saint US people, but for this guy and his followers, that this will be the case.