U.S. Finalizes Up To 12.5% Tariffs On South Korea, Japan Over Forced Labor Concerns

According to Yonhap, the Trump administration said on Thursday it will impose tariffs of as much as 12.5% on South Korea, Japan and other trading partners over forced labor concerns. The Office of the U.S. Trade Representative unveiled the new duties, which range from 10% to 12.5% and cover dozens of countries after Section 301 investigations into 60 economies found they had not taken sufficient steps to ban imports made with forced labor. The announcement came as the administration's temporary 10% global tariffs were due to expire on Friday, after the Supreme Court struck down the Trump administration's country-specific "reciprocal tariffs" in February. Last month, the USTR had proposed a 12.5% tariff on South Korea and other economies over the same issue. The South Korean government urged Washington to reconsider the proposal, calling it unwarranted and disproportionate given the country's circumstances. Separately, the USTR has also been probing South Korea, China, Japan and 13 other trading partners for alleged unfair trade practices tied to structural excess capacity and production.