U.K., Australia and Others Worse Off Under Trump’s New Tariffs
After the Supreme Court struck down the legal basis for President Trump’s sweeping tariffs, the administration temporarily imposed 10 percent duties under Section 122 of the Trade Act and then raised the rate to 15 percent, the law’s maximum. Like the earlier “reciprocal” tariffs that were invalidated, the new import duties upend years of economic cooperation and in some cases cast doubt on trade deals agreed only months earlier.
Britain, which reached a trade deal with the United States in May, had secured a 10 percent tariff applied on top of existing levies and won lower sectoral rates for cars and plane parts in exchange for accepting higher imports of American beef and ethanol. Mr.
United Kingdom; Australia; United States
tariffs, section 122, trade act, reciprocal tariffs, 10 percent, 15 percent, supreme court, trade deal, britain, australia