The Trump administration has announced plans to impose additional tariffs of at least 10% on 60 countries, including South Korea, citing concerns over forced labor in production. This move revives previously halted tariffs through alternative legal grounds, raising fears of a renewed trade war. While the administration claims compliance with negotiated tariff caps (15% for EU/Japan), experts warn this could increase costs for American families and fail to address modern slavery effectively. Canada's Prime Minister Mark Carney stated anti-dumping measures will continue until a U.S. trade deal is finalized. Chosun Ilbo+4
The new tariffs target 60 countries with minimum 10% rates, expanding beyond earlier proposals. South Korea emerges as a key affected nation alongside previously mentioned economies. The U.S. Trade Representative maintains the action addresses forced labor, though trading partners dispute this justification. Canada remains partially protected under ACEUM, while other nations face potential supply chain disruptions. Chosun Ilbo+2
The administration asserts the tariffs comply with existing agreements, citing alternative legal pathways after the Supreme Court's 2026 rejection of earlier levies. Diplomatic efforts continue, with U.S. Trade Ambassador Jamieson Greer meeting foreign counterparts this week. Critics argue the measures risk provoking retaliatory actions and may not improve labor conditions as intended. Bloomberg+2
Economic analysts project the tariffs could:
Key dates: