Financial Times: Trump Preparing New Tariffs on Around 60 Countries

Donald Trump is expected to approve another package of tariffs affecting around 60 countries. The US president intends to proceed with the plan, even though advisers have warned that the measures could place further strain on the US economy ahead of the midterm elections.

The Financial Times reports that the US administration has drawn up several options for the new tariffs, which will replace the temporary 10% levy on imports that expires this Friday. Initially, the proposed rates could range from 10% to 12.5%.

The development follows Trump’s announcement just days earlier that he would impose a 50% tariff on Canadian products and a 25% rate on imports from Brazil. The decisions show that tariffs remain among the main tools of his trade policy.

A different legal rationale is expected to be used to implement the new measures. Earlier this year, the Supreme Court struck down the reciprocal tariffs Trump had announced in April 2025, during what he called “Emancipation Day.” This time, rather than relying on the president’s emergency powers, the administration plans to justify the tariffs through an investigation into forced labor practices in the countries affected.

Other trade investigations are also under way, potentially paving the way for even higher tariffs in the coming months.

Reports indicate that some senior administration officials have urged Trump to maintain stable trade relations with key partners. They have also recommended that the president uphold the agreements reached during 2025 to reduce tariffs.

The package is being prepared at a time when tensions between the United States and Iran have unsettled global energy markets. As a result, fuel prices have risen, while cost-of-living pressures in the US have increased.

However, the administration has partially scaled back some of its initial proposals. Some consumer products, including beef and coffee, have been exempted from the tariffs, while duties on goods containing steel and aluminum have been eased.

So far, reports about the new package have not been commented on by either the White House or the Office of the US Trade Representative.