New Tariffs Imposed On Foreign Goods

The moves comes after the Supreme Court struck down President Trump's "reciprocal" tariffs of 10% to 50% back in February.

The Trump administration is set to impose new tariffs of 10% and 12.5% on imports from 60 trading partners beginning Friday as a temporary global tariff expires.

The moves comes after the Supreme Court struck down President Trump’s “reciprocal” tariffs of 10% to 50% back in February, that were imposed last year.

In response, President Trump implemented a temporary 10% global tariff under section 122 of the Trade Act of 1974, that expired at midnight.

The office of the U.S. Trade Representative announced that the new tariffs, imposed under section 301 of the Trade Act of 1974, took effect immediately after the expiration.

Canada, Mexico, India and the United Kingdom are among the trading partners that will face a 10% tariff. Taiwan and the European Union are slated to face the 12.5% tariff.