International Trade Partner Augustine Lo shared insight on the Trump Administration’s new tariff proposal announced on June 2. After concluding one of two Section 301 studies, the U.S. Trade Representative proposed 10%-12.5% tariffs on imports from 60 U.S. trading partners due to failures to ban or enforce blocks on goods made with forced labor. Augustine pointed out in a New York Times article that the new duties “closely track the trade deals that the Trump administration made with certain countries before the court invalidated the IEEPA tariffs.”
“Given other potential looming tariffs under the companion Section 301 investigation and the end of the U.S.-China trade truce in November, some companies may be weighing options to stockpile or front-load their imports to hedge against the uncertainty,” Augustine told Axios.
Augustine’s insight was featured in The New York Times, Axios, and Yahoo! Finance.