"The EU notes positively the fact that this outcome is in line with the U.S.
tariff commitments agreed under the EU-US Joint Statement," a European Commission spokesperson said, adding it provided "positive momentum" to continue the work on exploring further tariff exemptions and deepening cooperation.
White House imposes tariffs of 10-12.5% on 60 trading partners New duties cover 99.4% of all U.S.
imports; many goods exempt Trade partners say new tariffs unjustified Second US investigation into 'excess capacity' likely to result in additional tariffs The United States today (24 July ) imposed new tariffs of 10% and 12.5% on goods from 60 trading partners, including the EU and China, alleging those countries failed to curb imports made by forced labor, just as a temporary 10% global tariff expired.
Keep updated, follow The Business Standard's Google news channel The move is the White House's first step in efforts to rebuild President Donald Trump's near-global tariff wall after the US Supreme Court in February struck down his "reciprocal" duties of 10% to 50% imposed last year under a national emergencies law to try to shrink the US trade deficit.
New tariffs had been expected, but trade partners around the world joined in strongly disputing the justification for them.
Some, however, noted they would make no difference to current levies or even marked a slight improvement.
Bond yields edged higher as the tariffs added to inflation risk, but reaction was generally limited in financial markets more focused on the Middle East conflict.