Four months after President Donald Trump declared the U.S. “liberated” from pervasive global trade imbalances by implementing a new tariff regime, a revamped set of duties on the country’s most prominent trade partners has gone into effect.
Thursday saw dozens of nations integral to the fashion supply chain hit with steep, double-digit duties. The European Union’s 27 member countries now face 15 percent tariffs on U.S.-bound exports, while Cambodia, Indonesia, Malaysia, Thailand and Pakistan were all hit with 19 percent tariffs and Bangladesh and Vietnam saw their duty rates set at 20 percent.
Earlier this week, the president threatened to elevate tariffs on India, already set at 25 percent, to 50 percent due to the country’s continued purchase of Russian oil. He slapped Brazil with an a