It has been alleged that U.S. President Donald Trump is preparing new tariffs to cover certain countries, replacing a global customs tariff application that is about to expire.
According to a report by the Financial Times citing U.S. officials, the Trump administration plans to introduce new customs tariffs ranging from 10 percent to 12.5 percent on approximately 60 countries this week.
It was stated that the plan in question could replace the 10 percent global customs tariff on all countries that Trump implemented in February. Under the current application, a 10 percent import tax was applied to products imported into the U.S. for a period of 150 days.
The White House had announced that in the February decision, Trump exercised his authority under Section 122 of the Trade Act of 1974. The duration of the tax, which went into effect on February 24, expires on Friday, July 24, following the 150-day period.
News Source: 12punto
