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World Business Report · July 23 · 26 min

Trump targets trade partners with new wave of tariffs

US President Donald Trump has announced 10-12.5% import taxes for 60 countries, including China and the EU. It comes months after the Supreme Court overturned his initial programme of tariffs. So what countries are being targeted now, and why? As Houthis in Yemen resume attacks in the Red Sea, oil hits $100 a barrel once more. And weeks on from Venezuela's devastating earthquakes, the World Bank estimates the country has seen almost $20 billion of damages. (US President Donald Trump speaks during a press briefing at the White House, following the Supreme Court's tariff ruling, February 20, 2026. Credit: Reuters/Elizabeth Frantz)

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US President Donald Trump has announced 10-12.5% import taxes for 60 countries, including China and the EU. It comes months after the Supreme Court overturned his initial programme of tariffs. So what countries are being targeted now, and why?

As Houthis in Yemen resume attacks in the Red Sea, oil hits $100 a barrel once more.

And weeks on from Venezuela's devastating earthquakes, the World Bank estimates the country has seen almost $20 billion of damages.

(US President Donald Trump speaks during a press briefing at the White House, following the Supreme Court's tariff ruling, February 20, 2026. Credit: Reuters/Elizabeth Frantz)

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