Trump to Impose New Tariffs on 60 Countries

The United States will impose new tariffs ranging between rates of 10 percent and 12.5 percent on more than 60 trading partners beginning Friday, the Trump administration announced on Thursday. It comes as temporary 10 percent global levies are due to expire at midnight.

The administration alleges that the 60 affected partners—which include the European Union—have failed to enforce bans on forced labor.

Reuters contributed to this report.

This is a breaking story and will be updated with additional information.