CNBC
03 Jun 2026, 03:19 UTC · 2h ago
U.S. proposes fresh tariffs on 60 economies over forced labor trade practices
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CNBC
03 Jun 2026, 03:19 UTC · 2h ago
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The U.S. Trade Representative has proposed tariffs of up to 12.5% on imports from 60 economies, including China, the EU, and Japan, over failures to ban forced labor goods. — Broad-based tariffs on major global trading partners increase costs for importers and risk escalating trade tensions, which typically weigh on global risk assets.
-0.80Tariff rates are split between a 10% duty for economies with partial prohibitions on forced labor and 12.5% for those without. — The tiered structure creates specific cost pressures depending on a nation's regulatory compliance, impacting supply chain costs differently across regions.
-0.40A separate textile mechanism is proposed to allow some apparel and textile imports to enter the U.S. at reduced rates. — This provides a partial hedge or mitigation for the apparel sector, reducing the overall negative impact for specific textile importers.
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