We show you our most important and recent visitors news details US launches probe into trading partners including the EU, China and India in the following article
Hind Al Soulia - Riyadh - WASHINGTON — The US has launched new investigations into some of its biggest trading partnersincluding the EU, China, India and Korea, as Donald Trump looks to shore up his tariff wall after the Supreme Court struck down many of his previous levies.
The US trade representative’s office on Wednesday unveiled an investigation into what it said was “excess capacity and production in manufacturing sectors” in a series of countries.
The move is likely to help the Trump administration raise duties back to the level they were at before the US’s top court last month ruled the president could not use emergency powers to impose tariffs.
US Trade Representative Jamieson Greer said he hoped to conclude the investigations before new temporary tariffs imposed by Trump in late February expire in July.
"The United States will no longer sacrifice its industrial base to other countries that may be exporting their problems with excess capacity and production to us," Greer said in the announcement.
Other countries being investigated include Japan, Vietnam, Thailand, Malaysia, Cambodia, Singapore, Indonesia, Bangladesh, Switzerland and Norway.
Canada, which is the US's second largest trading partner, was not mentioned as a target of the probe.
The move comes weeks after the Supreme Court ruled that the tariffs imposed by Trump on a slew of countries around the world in April last year were unlawful.
Soon after the decision, the president announced a new 10% global tariff, calling the ruling "terrible" and lambasting the justices who rejected his trade policy as "fools".
The following day he said the levy would be 15% but when it came into effect the rate actually being charged was 10%.
Since then Trump and other senior officials in his administration have said the levy will be raised to 15%.
The probe offers the Trump administration a way to rebuild its case for a credible tariff threat against trading partners.
It also comes as top US officials are set to meet their Chinese counterparts in Paris this weekend.
Those talks are expected to help lay the groundwork for Trump to meet Chinese President Xi Jinping in Beijing at the end of March. — Agencies
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