Framing Analysis
The Office of the U.S. Trade Representative has replaced a temporary 10% global tariff with new Section 301 tariffs of 10% or 12.5% on the top 60 U.S. trade partners, differentiated by whether those partners have adopted or committed to import prohibitions on forced-labor goods. The measures cover 99.4% of American imports and take effect after the prior tariff expires July 24. Australia has objected that the tariffs conflict with its free-trade agreement and existing anti-forced-labor measures.