The U.S. once again has altered the global trade dynamics following the announcement made by President Donald Trump of new tariffs on countries which have been found not taking appropriate steps to deal with their supply chain’s forced labor issue. This new tariff regime, initiated under the Section 301 of the U.S. Trade Act of 1974, has imposed tariffs ranging from 10% to 12.5% on the imports coming from about 60 trading partners. Though this step is being considered as a human rights measure, its economic and geopolitical impacts cannot be ignored.
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