US implements broad tariff regime across 60 nations with variable 10-12.5% rates

The US has implemented a new tariff framework across 60 nations, applying duties between 10% and 12.5%, while simultaneously updating an exemption list for over 2,000 items. This policy replaces previously invalidated emergency duties, recovering approximately 60% of lost revenue. Responses from affected nations are varied, with some deferring action and others rejecting immediate retaliation, indicating a complex and evolving international trade landscape.