US Imposes Forced-Labor Tariffs of 10%-12.5%, Exempts Oil, Gas, Fertilizer, Food
The United States has replaced the prior 10% global duty with forced-labor tariffs ranging from 10% to 12.5% on many nations, while exempting oil, gas, fertilizer, and foodstuffs.
The new US forced-labor tariffs took effect as the previous 10% global duty expired. Rates of 10% to 12.5% have been set for a broad range of nations.
Exemptions were granted for oil, natural gas, fertilizers, and foodstuffs. These categories will not be subject to the new tariff regime.
The move marks a shift in US trade policy, targeting goods produced with forced labor at higher rates than the earlier across-the-board levy.
Source: First Squawk