CNBC Daily Open: Nations reject Trump's 'arbitrary' tariffs

US President Donald Trump speaks at Wheeler High School, in Marietta, Georgia, on July 22, 2026. Saul Loeb | AFP | Getty ImagesHello, this is Leonie Kidd coming to you from London. Back to the future. The Trump administration has found a new route to impose tariffs on U.S. trading partners across the globe. The fatigue is palpable as the international community reacts with a mix of frustration and anger to what they see as more unfair restrictions. What you need to know todayThe international community has reacted with frustration and anger to U.S. President Donald Trump's latest barrage of global tariffs. Trading partners from across the world have rejected the move and its rationale. Brazil's government branded the levies "arbitrary," Australia said the action was "unjustified," and Japan's government called the action "regrettable."The Office of the U.S. Trade Representative took action on Thursday under Section 301 of the Trade Act of 1974, imposing tariffs on 60 economies for what Washington called their failure to impose and enforce bans on goods made with forced labor.The duties — 10% for partners that have adopted or committed to import prohibitions, 12.5% for those that ha...