US announces 12.5% tariffs on S. Korea, 59 others over forced labor concerns
The announcement came as the administration's temporary 10-percent global tariffs were set to expire Friday.
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Summary
The announcement came as the administration's temporary 10-percent global tariffs were set to expire Friday. The USTR rolled out a 10 percent Section 301 tariff on goods of Canada, Mexico, Argentina, Britain and 14 other countries while announcing a 12.5 percent Section 301 tariff on other investigated countries. The Office of the U.S. Trade Representative (USTR) unveiled new tariffs ranging from 10 percent to 12.5 percent, effective Friday (Washington time), after conducting probes into 60 economies under Section 301 of the 1974 Trade Act to determine whether they had taken sufficient steps to ban imports made with forced labor.
Furthermore, For Taiwanese and European Union products, the total tariff rate will be capped at 10 percent. US President Donald Trump's administration on Thursday announced its final decision to impose new tariffs of up to 12.5 percent on South Korea, Japan and 58 other trading partners over forced labor concerns. Products already subject to most-favored nation tariffs of 12.5 percent or higher will not face new Section 301 duties.
In addition, Last month, the USTR proposed a 12.5 percent tariff on South Korea and other economies over forced labor concerns.
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Factual coreconfirmed by several independent voices
The announcement came as the administration's temporary 10-percent global tariffs were set to expire Friday.
reliability low1/2 sourcesThe USTR rolled out a 10 percent Section 301 tariff on goods of Canada, Mexico, Argentina, Britain and 14 other countries while announcing a 12.5 percent Section 301 tariff on other investigated countries.
reliability low1/2 sourcesThe Office of the U.S. Trade Representative (USTR) unveiled new tariffs ranging from 10 percent to 12.5 percent, effective Friday (Washington time), after conducting probes into 60 economies under Section 301 of the 1974 Trade Act to determine whether they had taken sufficient steps to ban imports made with forced labor.
reliability low1/2 sourcesFor Taiwanese and European Union products, the total tariff rate will be capped at 10 percent.
reliability low1/2 sourcesUS President Donald Trump's administration on Thursday announced its final decision to impose new tariffs of up to 12.5 percent on South Korea, Japan and 58 other trading partners over forced labor concerns.
reliability low1/2 sourcesUnder the latest tariff decision, products from South Korea, Japan and Switzerland will face additional Section 301 tariffs to the extent that the total US tariff rate reaches 12.5 percent.
reliability low1/2 sourcesProducts already subject to most-favored nation tariffs of 12.5 percent or higher will not face new Section 301 duties.
reliability low1/2 sourcesLast month, the USTR proposed a 12.5 percent tariff on South Korea and other economies over forced labor concerns.
reliability low1/2 sources
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