US President Donald Trump plans to activate new tariffs covering some 60 countries this week. According to a Financial Times report citing US officials, the new tariffs will range from 10% to 12.5%.
The 10% global tariff Trump imposed on all countries in February is set to expire on Friday, July 24. The measure, taken under Section 122 of the Trade Act of 1974, was valid for a period of 150 days.
The planned new duties are expected to replace the current global tariff and take effect from July 24. Among the targeted countries are many states from the Middle East and Islamic world.