US slaps new tariffs ranging from 10-12.5% on 60 economies

The US imposed tariffs ranging from 10 to 12.5 per cent on 60 economies, including China on Thursday. The White House said the new levies are based on a Section 301 investigation into alleged forced labour in global supply chains. The move under the 1974 Trade Act was described as a way to correct “human rights abuse”. Earlier this month, Beijing voiced “strong dissatisfaction” about the 301 inquiry.