The Trump administration is imposing new tariffs of 10-12.5% on imports from over 60 countries, including the EU, UK, Japan, and South Korea, citing forced labor concerns, while simultaneously pledging to honor existing trade agreement caps. U.S. Trade Representative Jamieson Greer emphasized maintaining tariff limits with key partners like the EU and Japan, stating "a deal is a deal," even as new Section 301 investigations proceed. The policy follows a February Supreme Court ruling that invalidated previous tariffs and includes a public comment period ending July 6. While 15 economies face 10% tariffs, 45 others including China and India are subject to 12.5% rates, sparking global criticism and urgent diplomatic talks. Bloomberg+2
The USTR's proposal creates a two-tier system:
After the Supreme Court struck down broad tariffs under emergency powers in February, the administration is pursuing narrower justifications tied to forced labor enforcement. The USTR will accept written comments until July 6 and hold a public hearing on July 7. Trade partners argue this violates existing agreements, particularly the EU's recent deals and South Korea's 2025 tariff-for-investment pact. The Korea Times+2
Key developments:
The tariffs particularly impact: