U.S. President Donald Trump is preparing to impose new import tariffs on about 60 countries, replacing the global tariff that expires this week.
According to the Financial Times, based on U.S. officials, the new tariff rates will range from 10% to 12.5%.

In February, Trump signed a decision imposing a 10% global tariff on all countries under Section 122 of the Trade Act of 1974. The decision took effect on February 24 and was stated to be in effect for 150 days.
The tariff is set to expire on Friday, July 24. The new planned tariffs are expected to take effect from that date.