00:00U.S. President Donald Trump will impose new tariffs of 10% and 12.5% on goods from 60
00:06trading partners, with the Philippines receiving the 12.5% rate. Also included are Europe and
00:12China over allegations of lax enforcement of forced labor bans. This comes after a temporary
00:1710% global tariff expired. Trade partners around the world join in strongly disputing the justification,
00:23but some note they would make little difference to current levies.
00:26The new tariffs cover 99.4% of U.S. imports, but include numerous product exemptions such as oil and
00:33gas,
00:34fertilizer, and certain food items. The U.S. imposes a 10% duty on goods from Argentina, Bangladesh,
00:40Britain, Cambodia, Canada, Ecuador, El Salvador, Guatemala, Honduras, India, Indonesia, Jordan,
00:46Malaysia, Mexico, Pakistan, Sri Lanka, and Trinidad and Tobago. 10 or 12.5% duties are imposed on the
00:53European Union, Taiwan, Japan, South Korea, and Switzerland. Along with the Philippines,
00:58the 12.5% rate is imposed on 38 countries, including Vietnam and China.
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