'Expect action soon'
CNBC • • nation
Key Points:
- U.S. Trade Representative Jamieson Greer indicated that a new round of tariffs under President Trump is expected soon, though no specific timeline was provided.
- The anticipated tariffs may coincide with the expiration of existing 10% tariffs imposed under Section 122 of the Trade Act of 1974, set to lapse on Friday unless Congress intervenes.
- The Trump administration has proposed additional tariffs of up to 12.5% on imports from 60 countries under Section 301, targeting goods linked to forced labor practices.
- Greer emphasized that the proposed tariffs would affect about 99% of U.S. trade, highlighting the widespread nature of forced labor concerns in global supply chains.
