New Wave in Trade War: Trump Administration Imposes Tariffs on Over 80 Countries

The administration of US President Donald Trump has introduced a new wave in the trade war by imposing tariffs ranging from 10 to 12.5 percent on over 80 countries.These new tariffs target the largest trading partners of the US, covering almost 99 percent of its imports. The US Trade Representative (USTR) stated that these tariffs are part of a trade policy aimed at combating forced labor practices.Countries such as the European Union, China, the UK, Canada, Mexico, Turkey, India, and Australia are affected by these new tariffs. Turkey will face a 12.5 percent tariff.This new regulation replaces the 10 percent global tariff that expired on Friday. The application is made under Section 301 of the 1974 Trade Act.Following the decision, many countries criticized the move. The Chinese Ministry of Foreign Affairs denied the allegations of forced labor, suggesting that this reason is being used for political purposes.