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US announces tariffs on dozens of trade partners over'forced labour' imports The US is imposing new tariffs on imports from around 60 trading partners over claims they failed to properly stop forced labour. They go into effect on Friday. The move is the latest escalation in the global trade war reignited by US President Donald Trump when he returned to office last year. The US Supreme Court ruled earlier this year that many of the tariffs imposed globally under emergency powers were illegally enacted. So the president has since sought other legal avenues to pursue his flagship trade policy.

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US President Donald Trump has signed an order imposing a 50% tariff on a wide range of goods imported from Canada, in retaliation for what he called unequal treatment of US cars, dairy and alcohol. The duties take effect on 19 August and mark a major escalation in trade tensions between the North American neighbours. The White House said the tariffs were necessary to protect American businesses. Goods targeted range from everyday consumer items like wine and hockey sticks to industrial goods such as commercial cement. However, several key exports will be spared, such as energy, potash, critical minerals and fish.

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The United States trade deficit has jumped to $77.6bn in May on rising imports, driven by goods that include pharmaceuticals, mobile phones and semiconductors. Imports ticked up 3.3 percent from April to $395.3bn while exports fell 3.2 percent to $317.7bn, according to a report released on Tuesday by the US Department of Commerce's Bureau of Economic Analysis and the Census Bureau. The surge came amid a boom in artificial intelligence spending across the economy. Notably, semiconductor imports jumped by $1.2bn. In the oil and gas sector, petroleum imports jumped to their highest level on record despite the US-Israel war on Iran.