According to the European Commission, the European Union is getting ready to accept new tariffs on forced labor that the United States is anticipated to impose in the near future, provided that they stay below the 15 percent cap set forth in the Turnberry agreement.
After the US Supreme Court ruled in February of last year that the Trump administration’s 2025 tariffs were unlawful, the administration levied 10 percent charges on its international trading partners. These tariffs, when combined with the already-existing Most-Favoured-Nation duties, mean that the EU is currently paying average duties that are almost at the 15 percent ceiling established by the Turnberry agreement.
However, the US tariff regime’s current legal foundation prevents it from lasting longer than 150 days, or until July 24, unless Congress grants an extension, which is thought to be unlikely in light of the US midterm elections.
In an attempt to overthrow the current system, the US Trade Department began looking into forced labor in international supply chains under Section 301 of the Trade Act of 1974. The investigation is expected to be finished in the coming days.
Greer stated on Tuesday on CNBC, “We anticipate seeing some action soon.” “I have to brief Congress and other stakeholders before I actually reveal that kind of thing, so I can’t really set a schedule right now. However, we anticipate action in that regard shortly.
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