Free NewsletterPro Login
S&P 500 6,287 +0.42%
DOW 44,521 -0.18%
NASDAQ 21,103 +0.71%
S&P 500 +12.4%
Briefs Finance Fund +24.8%
JOIN THE FUND →

Trump Proposes Tariffs on 60 Countries After Two Court Losses

Published Jun 3, 2026
[tts_player]
Share:
Stacks of shipping containers are arranged at a port, with cranes and more containers visible in the background under a cloudy sky.
Summary:
  • Trump's trade chief named 60 countries, including the EU, China, and the UK, as targets for tariffs of at least 10% under Section 301 of the 1974 Trade Act.
  • The move is Trump's third attempt at broad tariffs after courts struck down plans using IEEPA and Section 122 of the Trade Act earlier this year.
  • No start date has been set and a public comment period is required, but trade groups that won the first two court fights are already preparing to challenge this round.

Trump's tariff plan has been struck down twice in court this year, and now he's back with a third try - and a new legal tool to push it through.

U.S. trade chief Jamieson Greer said Tuesday night that 60 trading partners, including the European Union, have failed to crack down on goods made with forced labor. The plan: tariffs of at least 10% on imports from every one of them, with higher rates for the worst offenders.

The Workaround

This is Trump's third try at building a tariff wall around the U.S. economy.

The first try used a 1977 emergency law called IEEPA, short for the International Emergency Economic Powers Act. The Supreme Court ruled in February that Trump can't use it for broad tariffs without a vote from Congress.

The second try leaned on Section 122 of the Trade Act, a law no one had ever used before, and a trade court shut that one down in May.

Round three uses Section 301, a 1974 trade law that lets the president hit countries for unfair trade practices. The hook this time is forced labor, with Trump's team saying 59 countries plus the EU haven't enforced laws against goods made by forced workers.

Section 301 also lets the U.S. add tariffs once the trade chief finds the offense, with no vote from Congress needed.

If you want a quick read on how tariff fights move markets every morning, Market Briefs breaks it down in five minutes a day - plus a free investing masterclass when you sign up.

Who Gets Hit

The 12.5% rate would apply to imports from China, Brazil, South Korea, Switzerland, and the UK, while the 10% rate would cover the European Union, Canada, and Mexico.

Together, those countries make up a big chunk of what the U.S. buys from abroad - cars, phones, medicine, food, and just about everything in between.

A 10% to 12.5% surcharge on that volume means tens of billions in new costs that importers will either eat or pass on to U.S. shoppers.

Greer's office has also opened a separate look into what the team calls "excess manufacturing capacity" among 16 of America's biggest trading partners, giving the White House another tariff lever to pull later.

What to Watch

The big question: will Section 301 hold up where the first two laws didn't?

It has a longer track record - Trump used it against China in his first term and the courts let it stand, which is likely why his team picked it this time.

But the scope is much bigger now, with 60 partners instead of one, and the same trade groups that beat the first two rounds in court are already lining up.

Trump's team hasn't yet set a start date, and Section 301 usually needs a public comment period before new tariffs kick in.

To stay on top of how this plays out for your portfolio, join 350,000+ investors reading Market Briefs - you also get a 45-minute investing course thrown in as a bonus.

Disclosure

Recent News

1 2 3 40

Get Market Briefs delivered to your inbox every morning for free!

No fluff. No noise. No politics. Just finance news you can read in 5 minutes.

Blogs

June 29, 2026
Portfolio Diversification: Why Putting All Your Eggs in One Basket Destroys Wealth
  • Real diversification means spreading investments across all 11 economic sectors plus bonds, alternatives, and cash so no single bet can sink the portfolio.
  • Different sectors perform at different times, so a diversified portfolio captures upswings while smoothing the brutal drawdowns that wipe out concentrated bets.
  • Total market index funds offer the simplest path to diversification, and annual rebalancing is what keeps the structure working over time.
Read More
June 29, 2026
Non Taxable Income: What It Is and Why It Matters
  • Non taxable income is money you receive that you don't owe income tax on.
  • The tax code treats workers, investors, and business owners very differently, and investors often come out ahead.
  • Learning how income is taxed is a quiet superpower for keeping more of what you earn.
Read More
June 29, 2026
Semiconductor Stocks: A Simple Guide for Investors
  • Semiconductor stocks are companies that design and make computer chips, the brains inside nearly every modern device.
  • The AI boom has turned chips into one of the market's most important and most watched groups.
  • They offer big growth potential, but come with high valuations and a notoriously cyclical history.
Read More
June 25, 2026
How Stocks Work: A Simple Guide for Beginners
  • A stock is a slice of ownership in a company - buy one, and you own a piece of the business.
  • You make money two ways: the share price rising over time, and dividends paid to shareholders.
  • The simplest path for most beginners is buying into the whole market through a low-cost index fund.
Read More
June 25, 2026
Stop Loss vs Stop Limit: What's the Difference?
  • A stop loss order sells your stock once it hits a trigger price, prioritizing getting you out.
  • A stop limit order only sells within a price range you set, prioritizing price over a guaranteed exit.
  • The trade-off: a stop loss almost always executes; a stop limit might not if the price moves too fast.
Read More
June 25, 2026
Energy Stocks: A Simple Guide for Investors
  • Energy stocks are companies that produce and supply the power the world runs on, from oil and gas to newer sources.
  • They make up one of the 11 sectors of the market and tend to move with energy prices and big-picture shifts.
  • Like any sector, the key is diversification and understanding the forces driving demand.
Read More
June 18, 2026
What Is a Stop Loss Order? A Simple Guide
  • A stop loss order automatically sells a stock once it falls to a price you set.
  • It's a tool to cap losses or lock in gains without watching the market all day.
  • It works best for active strategies, and can backfire if used carelessly on long-term holdings.
Read More
June 18, 2026
Best S&P 500 Index Fund: How to Choose One
  • The best S&P 500 index fund for most investors is simply the cheapest, most established one that tracks the index well.
  • Funds like VOO, IVV, and SPY all hold the same 500 companies, so the biggest difference is the fee.
  • Pick one, automate your buys, and let time do the heavy lifting.
Read More
June 17, 2026
What Are Penny Stocks? Risks and Rewards Explained
  • Penny stocks are very low-priced shares of very small companies, often trading for just a few dollars or less.
  • They promise huge gains but carry huge risks: low liquidity, high failure rates, and wild price swings.
  • Most investors are better served by quality companies and funds than by chasing cheap shares.
Read More
June 17, 2026
Best Stocks for Beginners With Little Money
  • The best stocks for beginners with little money usually aren't individual stocks at all - they're low-cost index funds.
  • You can start with $100 or less and use small, regular investments to build wealth over time.
  • Focus on diversification and consistency, not on picking the next big winner.
Read More
1 2 3 24
Share via
Copy link