US Initiates 'Unfair' Trade Probe against India and 15 other Nations
The administration of US President Donald Trump initiated a fresh trade inquiry into surplus industrial capacity across 16 significant trading partners, a strategy intended to restore tariff pressure following the US Supreme Court's rejection of the key element of Trump's tariff agenda last month.
US Trade Representative Jamieson Greer indicated that the Section 301 investigation into unfair trade practices might result in additional tariffs on nations such as China, the European Union, India, Japan, South Korea, and Mexico by summer.
Other economies being examined include Taiwan, Vietnam, Thailand, Malaysia, Cambodia, Singapore, Indonesia, Bangladesh, Switzerland, and Norway, whereas Canada, the second-largest trading partner of the US, was not identified as a target.
“Thus, these investigations will center on economies where we have indications of structural excess capacity and production in different manufacturing sectors, such as via notably persistent trade surpluses or capacities that are underutilized or not used,” Greer informed reporters during a conference call.
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Greer mentioned that the investigation will look into evidence like significant current account surpluses, government financial support, repressed domestic wages, the noncommercial operations of state-owned companies, insufficient environmental and labor standards, subsidized loans, and currency practices.
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The probe follows the US Supreme Court's decision on February 20, declaring that Trump's international tariffs enforced under a national emergencies statute were unlawful. After the decision, Trump enacted a provisional 10percent tariff for 150 days based on Section 122 of the Trade Act of 1974.
Greer expressed his desire to complete the Section 301 investigations, along with suggested remedies, before the temporary tariffs lapse in July. The investigation will proceed swiftly, with public input allowed until April 15 and a hearing planned for approximately May 5.
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Greer stated that the administration will initiate another Section 301 investigation on Thursday targeting the prohibition of US imports of products made with forced labor. The probe is anticipated to encompass over 60 nations.