Trump Announces New Import Taxes on 60 Countries

President Trump announced import taxes of 10% to 12.5% on goods from 60 countries that make up 99% of what the U.S. buys from abroad. The taxes take effect at 12:01 a.m. Friday, July 25, when a temporary 10% worldwide tax ends. Trade official Jamieson Greer said they target countries that failed to block goods made with forced labor. Oil, gas and fertilizer are exempt.