US Proposes Tariffs on 60 Economies
Analysis based on 125 articles · First reported Jun 02, 2026 · Last updated Jun 08, 2026
The proposed tariffs by the United States on 60 economies, including major trading partners like China, India, and the European Union, are expected to create significant uncertainty in global trade. This could lead to increased import costs, supply chain disruptions, and potential retaliatory measures, negatively impacting market stability and investor confidence. The Indian rupee has already depreciated against the U.S. dollar, reflecting immediate market reactions to the proposed duties.
The United States, under the Trump administration, has proposed new tariffs of 10% or 12.5% on imports from 60 trading partners, including China, India, the European Union, and Norway. These tariffs are a result of investigations by the United States — United States Trade Representative (USTR) under Section 301 of the Trade Act of 1974, which concluded that these economies have failed to impose and effectively enforce prohibitions on goods produced with forced labor. The USTR, led by Jamieson Greer, argues that this creates an unlevel playing field for American workers. Many targeted countries, including Norway and Vietnam, have rejected these assessments, while China has opposed the tariffs but expressed openness to trade talks. The move aims to rebuild the U.S. tariff wall after previous legal setbacks and is subject to public comment and hearings before implementation. Exemptions are proposed for certain products like energy, rare earths, beef, coffee, and some textiles.
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