Global Markets
Home›Global Markets›Trade & Tariffs›US imposes 10% to 12.5% tariffs on imports over forced…
US imposes 10% to 12.5% tariffs on imports over forced labour claims
The duties, covering about 60 trading partners, are scheduled to begin on Friday, with additional investigations into manufacturing overcapacity also underway.
The US is imposing new tariffs on imports from around 60 trading partners, citing claims that they failed to properly stop forced labour in supply chains, according to BBC Business.
The tariff rates range from 10% to 12.5% and target major economic partners including the UK, EU, Canada, Japan, and India, with the measures set to take effect on Friday.
BBC Business reports the move is the latest escalation in the global trade conflict that restarted after Donald Trump returned to office in January last year, and it follows an earlier Supreme Court ruling that found many emergency-power tariffs were illegally enacted.
Economists cited by the outlet warned that higher tariffs can raise prices for everyday goods, since importing companies pay the duties and may pass costs to shoppers. In parallel, the US Trade Representative is investigating 16 countries over claims of manufacturing overcapacity, which could open the door to more duties later this year.