US rolls out 10 to 12.5% tariffs on 60 partners
Big trade shakeup: The US is rolling out fresh tariffs on 60 trading partners, just as Trump's earlier 10% global duty expires on July 24.
These new tariffs (between 10% and 12.5%) are partly a response to concerns about forced labor, as the administration pushes to rebuild the US leader's trade agenda after legal setbacks, according to US trade envoy Jamieson Greer.
US hits Canada with 50% tariffs
Canada gets hit hardest, with a whopping 50% tariff on many of its goods, sparking talk of "all options" from Canadian Prime Minister Mark Carney.
Brazil isn't far behind, facing a new 25% tariff starting July 22 that could affect over $11 billion in exports, with products like beef and coffee exempt.
Some products not made in the US are exempt, but these moves have definitely turned up the heat in global trade talks, especially with Brazil's elections just around the corner.