Some U.S. allies see higher duties under new tariffs, rivals see relief, trade body says

Core Viewpoint - The U.S. has raised global tariffs to 15%, impacting trade relations with various countries differently, with the U.K., EU, and Singapore facing higher tariffs while Brazil, China, and India see reductions [1][2][3]. Tariff Changes - The U.K. experiences a 2.1 percentage point increase in its average tariff rate, while the EU sees a 0.8 point rise [3]. - Brazil's tariff rate decreases by 13.6 points, and China's drops by 7.1 points [3]. - Japan and South Korea face increases of 0.4 and 0.6 percentage points, respectively [5]. Legal and Trade Implications - The U.S. Supreme Court ruled that the president improperly invoked the IEEPA for tariffs, leading to the implementation of a 10% duty under Section 122, which was later raised to 15% [2]. - The EU Commission is seeking clarity on the ruling, emphasizing that previously agreed tariff ceilings should be honored [4]. Reactions from Affected Countries - Asian countries, including China and India, are assessing the implications of the Supreme Court ruling, with India postponing trade negotiations with the U.S. [14]. - South Korea plans to engage in consultations to maintain favorable export conditions under its trade agreement with the U.S. [15]. Confusion in Trade Landscape - There is significant confusion regarding the actual implementation of the new tariffs, as the White House's fact sheet still lists Section 122 tariffs at 10% [18]. - Experts express uncertainty about the impact on bilateral trade agreements, as previous deals were based on IEEPA rates that are no longer enforceable [19][20].