US Imposes New Tariffs on EU, Japan

The United States>>>, through its Trade Representative Jamieson Greer>>>, announced new tariffs on 60 countries, including the European Union>>> and Japan>>>, citing concerns over forced labor and excess manufacturing capacity. These tariffs, 10% for the European Union>>> and 12.5% for Japan>>>, are being imposed despite existing trade deals that cap US tariffs at 15%. Greer asserts that Section 301 investigations provide the legal basis for these actions and that the existing agreements allow for tariffs 'up to a certain level'. European Union>>> Trade Commissioner Maroš Šefčovič>>> expressed surprise at the tariffs, particularly given the European Union>>>'s high labor standards, and emphasized the European Union>>>'s interpretation of the trade deal as an all-inclusive 15% cap. The European Union>>> is also working to implement a bloc-wide ban on products involving forced labor by December 2027. A further Section 301 investigation into excess manufacturing capacity could lead to even higher tariffs on European Union>>> and Japan>>>ese goods.