US to impose new tariffs of up to 12.5% on 60 trading partners, including Thailand, on Friday

The United States on Friday will impose new tariffs of either 10% or 12.5% on goods from its top 60 trading partners, including China, Japan and Thailand, officials said, citing their alleged failure to adequately ban the import of goods made with forced labour. Thursday’s announcement came ahead of the expiration of the 10% global tariff that President Donald Trump introduced in February shortly after the Supreme Court invalidated his sweeping country-specific “reciprocal” duties, as well as fentanyl-related levies against products from China, Canada and Mexico. “President Trump recognises that decades of moral suasion have not eradicated forced labour from…