# Sweeping tariffs back on the table

By Susannah Streeter — 2026-06-03

Susannah Streeter, chief investment strategist at Wealth Club, said: “The U.S. proposal to impose new tariffs of up to 12.5 per cent on imports from 60 economies will escalate trade tensions just as governments had hoped that the worst of the recent tariff wars was behind them.

“While this measure is framed around combating forced labour and creating a level playing field for American workers, it will be seen as a way of forcing through Trump’s agenda through another door.

“The scope is striking, sweeping in dozens of nations, including the European Union, which already has tough laws to counter modern slavery.

“For Brussels in particular, the timing is likely to be especially frustrating.

“US and EU negotiators had just made significant progress in finalising a long-awaited trade agreement.

“It was widely viewed as a sign that both sides were seeking a more stable economic relationship after years of disputes.

“The prospect of fresh tariffs arriving so soon afterwards undermines that optimism and will prompt questions once again among leaders about how trustworthy and durable any new deals with Washington really are.”

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