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U.S. proposes fresh tariffs on 60 economies over forced labor trade practices

Anniek Bao· ·1 min read · 0 reactions · 0 comments · 11 views
#trade#labor#economy
U.S. proposes fresh tariffs on 60 economies over forced labor trade practices
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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.

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CNBC — Economy · Anniek Bao
Read full at CNBC — Economy →
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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.

Excerpt limited to ~120 words for fair-use compliance. The full article is at CNBC — Economy.

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