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macroJul 24, 2026, 12:21 AM

US imposes sweeping tariffs of 10-12.5% on major trading partners

President Donald Trump has announced new tariffs ranging from 10% to 12.5% on imports from most major trading partners, marking his most aggressive trade action to date.

President Donald Trump has imposed new tariffs of between 10% and 12.5% on imports from a broad range of major trading partners, according to a Bloomberg report.

The move represents the administration's most significant effort to reinforce the tariff wall that was partially dismantled by a Supreme Court ruling. The new duties target dozens of countries and are expected to escalate trade tensions globally.

Market participants are assessing the potential impact on supply chains, inflation, and currency markets, though no specific asset has been singled out in the announcement.

Source: FXStreet Forex News