Trump prepares to announce new tariffs on imports from dozens of countries, sources say

U.S. President Donald Trump is reportedly preparing to announce new tariffs on imports from dozens of countries this week, according to sources cited by the Financial Times. The current 10% transitional tariffs, applied to all imports, are set to expire on Friday. The White House is considering not only maintaining these rates but also exploring legal avenues to implement even higher tariffs.

This potential move comes despite warnings from Trump's advisors about the risks of economic disruption, similar to what occurred when tariffs were first introduced during his second term. The report suggests that the new tariffs would initially be set at 10%, mirroring the current rates. However, the administration is actively investigating ways to legally impose higher duties.

Trump has a well-known history of imposing tariffs. Just on Monday, he announced a 50% tariff on certain Canadian goods, and previously imposed a 25% tariff on imports from Brazil. His advisors are reportedly cautioning against such a move so close to the congressional elections scheduled for early November, suggesting it might not be a politically advantageous decision.

Last February, the U.S. Supreme Court struck down some of Trump's tariffs. In response, the White House implemented the 10% tariffs that are currently in effect until Friday. According to the Financial Times, the new tariffs would be introduced following an investigation into forced labor cases. This approach would allow Trump to circumvent the use of extraordinary powers, which he previously encountered legal challenges with at the Supreme Court.