U.S. proposes fresh tariffs on 60 economies over forced labor trade practices
The U.S. Trade Representative has proposed new tariffs on imports from 60 economies due to their failure to ban goods made with forced labor. The proposed tariffs could reach up to 12.5% and aim to create a fairer trade environment for American workers. This action highlights ongoing concerns about forced labor practices in global trade.
- ▪The proposed tariffs target 60 economies, including China, the EU, and Japan.
- ▪Tariffs could be up to 12.5% for countries not enforcing bans on forced labor goods.
- ▪A separate textile mechanism is proposed for reduced rates on certain apparel imports.
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The Office of the U.S. Trade Representative has proposed additional tariffs of up to 12.5% on imports from 60 economies over their failure to ban goods made with forced labor, in a sweeping action that would hurt most trading partners including China, the European Union and Japan. The determination, made under Section 301 of the Trade Act of 1974, found that all 60 countries have failed to impose or effectively enforce a prohibition on forced labor-related imports, creating what it called an "unlevel playing field" for American workers. USTR has proposed a 10% duty rate for economies that have adopted a full or partial prohibition on forced labor trade, and 12.5% for all other economies.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at CNBC — Economy.