Trump's new global tariff draws rebukes from trade partners over forced-labor justification

Trump's new global tariff draws rebukes from trade partners over forced-labor justification - CNBC
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Trump's new global tariff draws rebukes from trade partners over forced-labor justification

- 3 min read - Source: CNBC
TOP SUMMARY

Trade Representative on Thursday took action under Section 301 of the Trade Act of 1974, imposing tariffs on 60 economies for what Washington called their...

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Key points

  • Trade Representative on Thursday took action 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 measure replaces a temporary 10% global tariff imposed under Section 122 of the trade act, which expires July 24, a stopgap put in place after the Supreme Court ruled Trump's emergency-powers tariffs unlawful in February.
  • "These tariffs are unjustified, inconsistent with our free trade agreement, and should be removed," Australian Trade Minister Don Farrell said in a statement.
  • imposed a 12.5% tariff on imports from Australia, China (including Hong Kong), Singapore and South Korea, alleging the countries failed to prevent goods made with forced labor from entering the American market.

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Trump's new global tariff draws rebukes from trade partners over forced-labor justification
Trump's new global tariff draws rebukes from trade partners over forced-labor justification

Trade Representative on Thursday took action 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 measure replaces a temporary 10% global tariff imposed under Section 122 of the trade act, which expires July 24, a stopgap put in place after the Supreme Court ruled Trump's emergency-powers tariffs unlawful in February. "These tariffs are unjustified, inconsistent with our free trade agreement, and should be removed," Australian Trade Minister Don Farrell said in a statement. imposed a 12.5% tariff on imports from Australia, China (including Hong Kong), Singapore and South Korea, alleging the countries failed to prevent goods made with forced labor from entering the American market. resolution doesn't allege Chile exports goods made with forced labor, and said it would press for exclusions covering key export products. Trade Dominic LeBlanc said in a statement, adding that Ottawa shares Washington's objective on forced labor and would "continue engaging constructively" in the coming weeks.

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