US imposes new tariffs on 60 countries, Bangladesh faces 10pc levy

The United States is imposing new tariffs on imports from 60 countries, including Bangladesh. The Trump administration introduced the new measures, alleging that the countries had failed to adequately enforce bans on forced labour.

The new tariffs were announced in a notice published in the Federal Register on Thursday. The tariff rates range from 10 per cent to 12.5 per cent, reports Reuters.

Bangladesh has been subjected to a 10 per cent tariff. Other countries facing the same rate include India, Pakistan, Sri Lanka, Malaysia, Indonesia, the United Kingdom, Canada, Mexico, Argentina, Cambodia, Ecuador, El Salvador, Guatemala, Honduras, Jordan, and Trinidad and Tobago.

For the European Union, Taiwan, Japan, South Korea and Switzerland, the new measures bring the total tariff rate—including existing duties—to either 10 per cent or 12.5 per cent.

The remaining 38 countries will face a tariff of 12.5 per cent. They include China and Vietnam. US ally Israel has also been hit with a 12.5 per cent tariff.

The 10 per cent temporary global tariff imposed earlier by the Trump administration, which was in effect for 150 days, is due to expire at 12:01 am on Friday. The newly announced tariff rates will take effect at the same time.