US President Donald Trump has announced import taxes of between 10 and 12.5 percent on 60 countries, including China and the European Union. The move comes months after the Supreme Court overturned his initial programme of tariffs, raising fresh questions about which countries are now being targeted and why.
The announcement lands against a turbulent global backdrop. As Houthi forces in Yemen resume their attacks in the Red Sea, oil has climbed back to $100 a barrel. And weeks on from Venezuela’s devastating earthquakes, the World Bank now estimates the country has suffered almost $20 billion in damages.
