Trump’s New Tariffs to Hit UK, Australia, and Italy

As President Trump moves to a “one-size-fits-all” 15% tariff for 150 days, the shift is creating clear winners and losers among nations transitioning to a new US tariff regime, Grace O’Donnell reported for Yahoo Finance.

The UK, Australia, and Italy are bracing for higher rates and have already voiced protests.

Overall, the US tariff rate is expected to decline, meaning most countries will see their rates fall. However, the impact will vary significantly by country, Ben Werschkul also reported for Yahoo Finance.

The UK, Australia, and Italy are bracing for higher rates and have already voiced protests, while frequent Trump targets such as China, Brazil, and Canada are expected to see their rates decline.

As Capital Economics noted in an analysis of the UK situation, “this is something of an ‘eff you,’” though Trump has limited options as he implements new duties under Section 122 of the 1974 Trade Act.

“Section 122 explicitly states that any tariff must be applied in a non-discriminatory manner,” the analysts wrote.