Finance

US Opens Unfair Trade Practices Probe of 60 Countries Over Forced Labor

MR
Maya Rodriguez
Financial Analyst
Form 144 ROYAL GOLD INC For: 12 March
Image source: Investing.com

US Opens Unfair Trade Practices Probe of 60 Countries Over Forced Labor

The US has launched a fresh probe into unfair trade practices of 60 countries over forced labor, following Section 301 investigations launched on Wednesday. The forced-labor probes are part of the US's efforts to address human rights concerns in global supply chains.

Background

The US has been cracking down on countries that use forced labor in their supply chains. In 2020, the US launched a probe into China's Xinjiang region over allegations of forced labor. The US has also imposed tariffs on several countries, including China, Vietnam, and Malaysia, over their use of forced labor.

Investigation Details

The US Trade Representative's office has launched an investigation into the trade practices of 60 countries, including China, Vietnam, Malaysia, and several others. The investigation will focus on whether these countries are using forced labor in their supply chains.

Impact

The probe is likely to have significant implications for global trade. If the US finds that these countries are using forced labor, it could lead to tariffs and other trade restrictions. This could have a major impact on the global economy, particularly for countries that rely heavily on exports.

Quotes

The US Trade Representative's office has not commented on the investigation. However, the US has made it clear that it will take a tough stance on countries that use forced labor in their supply chains.

Sources

[1] US opens unfair trade practices probe of 60 countries over forced labor
[2] U.S. launches fresh Section 301 probes into 60 economies over forced-labor trade practices