The administration of US President Donald Trump has initiated the introduction of additional tariffs on imports from 60 countries and economies. The reason for this move in Washington is cited as insufficient action against the use of forced labor in the production of goods.
This is reported by Finway
Investigations and grounds for new tariff rates
According to the results of investigations conducted under Section 301 of the US Trade Act, the Office of the United States Trade Representative (USTR) concluded that many countries are not doing enough to prohibit the import of goods produced using forced labor. The American side believes that this creates unfair competition for local manufacturers.
“As a result of investigations conducted under Section 301 of the US Trade Act, USTR concluded that a number of countries are not taking sufficient measures to prohibit the import of goods produced using forced labor. Washington believes that this creates unfair competition for American manufacturers.”
Details of the tariff initiative and list of countries
According to the proposal, two levels of tariffs are planned to be implemented. For 15 economies that have already taken some steps to regulate imports, but these measures remain insufficient, a tariff of 10% is proposed. This list includes Canada, Ecuador, the European Union, Indonesia, Mexico, Pakistan, Argentina, Bangladesh, Cambodia, El Salvador, Guatemala, Honduras, India, Malaysia, and Taiwan.
The other 45 economies, where the fight against the import of products related to forced labor is even less effective, may be subject to a tariff of 12.5%.
It is worth noting that Ukraine did not make it to the list of countries for which this investigation was conducted. In March, USTR announced the start of checks on 60 countries and economies, but Ukraine is absent from this list.