President Donald Trump has launched a new chapter in his global trade agenda, imposing fresh tariffs of 10% and 12.5% on imports from 60 countries, including the European Union, China, Japan, South Korea, Canada, Mexico and Argentina, reigniting fears of a broader global trade conflict.

The measures, which took effect Friday, replace the temporary 10% tariff that expired at midnight and represent the White House's first major effort to rebuild Trump's international tariff strategy after the U.S. Supreme Court struck down his previous "reciprocal tariffs" earlier this year.

Unlike the previous duties, the new tariffs are being implemented under Section 301 of the Trade Act of 1974, with the administration arguing that America's trading partners have failed to prevent products made with forced labor from entering their supply chains.

"The United States has had a forced labor import ban for nearly a century. It's time for our trading partners to enforce similar standards," U.S. Trade Representative Jamieson Greer said when announcing the measures.

A New Legal Strategy

The Trump administration believes Section 301 provides a much stronger legal foundation after the Supreme Court invalidated the emergency powers previously used to justify sweeping tariffs of up to 50%.

The new duties cover 99.4% of U.S. imports, although numerous strategic products—including oil, natural gas, fertilizers, aircraft parts, critical minerals and many food products—remain exempt.

Countries such as Argentina, Canada, Mexico, India, Indonesia, Bangladesh, Malaysia and the United Kingdom will face a 10% tariff, while another group—including China and Vietnam—will be subject to 12.5% duties.

Global Pushback

Governments across Europe, Asia and Latin America quickly challenged Washington's justification.

China rejected the accusations, warning that unilateral tariffs undermine global trade and insisting that "trade wars serve no one's interests."

Australia, Brazil and Norway described the new duties as unjustified, while Canada pledged to continue negotiations with Washington.

The European Commission adopted a more measured tone, noting that the new tariffs remain within the limits established under the recent EU-U.S. trade understanding and expressing hope that negotiations on additional exemptions will continue.

Inflation Risks Return

Although financial markets had largely anticipated the announcement, economists warn the tariffs could increase inflationary pressures worldwide.

Higher import costs may eventually translate into more expensive consumer goods, complicating the outlook for central banks already dealing with elevated energy prices.

Bond yields moved higher Friday as investors priced in renewed inflation risks, although equity markets reacted relatively calmly, with investors remaining focused on escalating geopolitical tensions in the Middle East.

A Broader Economic Shift

The tariffs signal that Trump's second-term economic strategy remains centered on aggressive trade enforcement.

With additional Section 301 investigations already targeting industrial overcapacity in major economies—including China, the European Union, India and South Korea—analysts believe more tariffs could follow later this year.

For global businesses, the latest measures reinforce a new reality: international trade is increasingly being shaped not only by economics, but also by geopolitics, supply-chain security and human rights considerations.