Oil spurs a sell-off, Trump's new tariffs, Intel earnings and more in Morning Squawk
The White House announced fresh tariffs between 10% and 12.5% on dozens over countries yesterday, citing alleged forced-labor violations. Trade Representative said the duties, which kicked in overnight, apply to 60 trade partners and account for more than 99% of all American trade. Despite the objections, no major trading partner has announced retaliation as most signal they will keep negotiating with Washington.
- ▪The White House announced fresh tariffs between 10% and 12.5% on dozens over countries yesterday, citing alleged forced-labor violations.
- ▪Trade Representative said the duties, which kicked in overnight, apply to 60 trade partners and account for more than 99% of all American trade.
- ▪Despite the objections, no major trading partner has announced retaliation as most signal they will keep negotiating with Washington.
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The White House announced fresh tariffs between 10% and 12.5% on dozens over countries yesterday, citing alleged forced-labor violations. The Office of the U.S. Trade Representative said the duties, which kicked in overnight, apply to 60 trade partners and account for more than 99% of all American trade. As CNBC's Kevin Breuninger and Ashlee Trujillo report, the new tariffs act as replacement for the temporary 10% levies Trump imposed after the Supreme Court struck down most of his "liberation day" tariffs in February.Australia, Brazil, Chile and New Zealand all rejected the Trump administration's justification for the new tariffs, while Canada voiced more measured concern.
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