Foreign Media: The US Launches Trade Investigations Against China and the EU, Seeking to Rebuild the Tariff System
The Trump administration officially launched a new round of trade investigations against foreign manufacturing on March 11, mainly targeting China and the EU. The background of this move is that the US Supreme Court ruled in February this year that the tariffs imposed by Trump previously based on an "economic emergency" were unconstitutional, leading to potential interruption of billions of dollars in tariff revenue.
This investigation is based on Section 301 of the 1974 Trade Act. If the findings of the investigation are confirmed, it will provide a legal basis for imposing new import tariffs.
American Trade Representative Jamieson Grier emphasized during a media conference call that the policy objectives remain unchanged, with the core goal still being to protect American jobs.
Analysts pointed out that the process of rebuilding the tariff system may once again trigger trade tensions that greatly shook the global economy last year.
Original article: toutiao.com/article/1859470474225671/
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