Trump administration proposes tariffs of 10-12.5% on 60 trading partners citing forced labor concerns

The U.S. Trade Representative's office released a report proposing additional tariffs of 10% on 16 economies and 12.5% on 44 others, citing failures to prohibit imports made with forced labor under Section 301 of the Trade Act of 1974. The proposal affects 60 trading partners including China, the EU, Canada, Japan, the UK, and India, and covers roughly 99% of U.S. imports. The tariffs are not yet in effect and are subject to public comment through July 6, with hearings scheduled for July 7.