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White House to Announce Tariffs Thursday
The White House is expected to announce that the U.S. government plans to issue a statement regarding tariffs on Thursday, just before the expiration of the temporary global tariff measure imposed by former President Donald Trump at a 10% rate. This comes as the Biden administration makes efforts to reintroduce tariffs ranging from 10% to 12.5%, targeting around 60 economies, aiming to protect domestic industry from unfair practices and address issues such as forced labor. This move follows the Supreme Court's decision to eliminate certain parts of previous tariffs. It is part of former President Trump's broader strategy to reinforce trade barriers, especially after the temporary tariffs, which lasted for 150 days, expired. No specific timeline has been set for implementing the new tariffs.
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