Trump imposes new double-digit tariffs on dozens of countries | Donald Trump News


With existing 10 percent levies set to expire, Trump issues new tariffs on 60 countries under forced labour provision.

President Donald Trump is going ahead with new double-digit tariffs on dozens of trading partners of the United States just as the clock runs out on Friday on stopgap levies he announced after a stinging defeat at the Supreme Court.

The US will slap levies of 10 to 12.5 percent on imports from 60 countries accounting for 99 percent of US imports, charging that they have inadequately enforced bans on goods produced by forced labour.

Recommended Stories

list of 4 itemsend of list

“The United States has had a forced labor import ban for nearly a century, and rigorously enforces it; it’s well past time for our trading partners to do the same,” US Trade Representative Jamieson Greer said in a statement on Thursday.

“Today’s action will begin to correct what is both a human rights abuse and distortive trade practice to improve the welfare of workers everywhere.”

The new tariffs will take effect just as the temporary 10 percent worldwide tariffs expire at 12:01am on Friday in Washington, DC (04:01 GMT). Trump had turned to the temporary levies after the Supreme Court struck down his biggest and boldest tariffs in February.

Now he is tapping more durable tariffs under Section 301 of the Trade Act of 1974, which permits the president to impose import taxes and other sanctions against countries found to engage in “unjustifiable”, “unreasonable”, or “discriminatory” trade practices.

Trump used Section 301 to impose big tariffs on China in his first term, and they survived court challenges.

More Section 301 tariffs are likely coming: Greer’s office has launched a probe into whether 16 countries — accounting for 70 percent of US imports — have overproduced goods, pushing down prices and putting US companies at a disadvantage in global markets.

The administration has yet to complete that investigation.

Trump, who argues that high tariffs will revive US manufacturing, last year overturned decades of US policy that favoured lower tariffs and freer trade.

Invoking the 1977 International Emergency Economic Powers Act (IEEPA), he imposed double-digit tariffs on imports from almost every country, saying that the US’s longstanding trade deficit amounted to a national emergency.

But the Supreme Court ruled that IEEPA did not authorise tariffs. The decision forced the Trump administration to pay refunds to importers that had paid the levies.

In response, Trump announced 10 percent worldwide tariffs under Section 122 of the Trade Act of 1974. But he can only use Section 122 levies for 150 days, and the time runs out on Friday.



Source link

  • Related Posts

    The ‘cockroaches’ marching on India’s government – podcast | India

    ‘I’ve never seen this many young people out on the streets,’ says Hannah Ellis-Petersen. For days, tens of thousands of Indians have been marching under the banner of the Cockroach…

    CJP protests at Jantar Mantar: The youth movement India’s Modi didn’t see coming

    “There is deep economic dissatisfaction and distress, which has translated into a lack of hope about the future,” Aiyar says. “This could reflect growing exhaustion with a government that has…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    This Searchable Tool Is Helping Track Flock Surveillance Cameras in Your City

    This Searchable Tool Is Helping Track Flock Surveillance Cameras in Your City

    Saskatoon traffic having trouble getting around with construction throughout city – Saskatoon

    Saskatoon traffic having trouble getting around with construction throughout city – Saskatoon

    Xenoblade Chronicles 2 – Switch 2 Edition Overview Reveals New Pyra & Mythra Outfits, Merc Assault And Momo

    Xenoblade Chronicles 2 – Switch 2 Edition Overview Reveals New Pyra & Mythra Outfits, Merc Assault And Momo

    Could EU’s Clothing Destruction Ban Change How Fashion Overproduces?

    Could EU’s Clothing Destruction Ban Change How Fashion Overproduces?

    The ‘cockroaches’ marching on India’s government – podcast | India

    The ‘cockroaches’ marching on India’s government – podcast | India

    Rapid pace of interceptor and precision-guided weapons use worries Trump administration

    Rapid pace of interceptor and precision-guided weapons use worries Trump administration