US launches trade probe into China and EU in bid to revive Trump tariffs
The Section 301 investigations could lead to another set of import taxes to replace those struck down by the Supreme Court
The Trump administration on Wednesday opened a new trade investigation into manufacturing in foreign countries – an effort that comes after the Supreme Court struck down US President Donald Trump’s previous use of tariffs by declaring an economic emergency.
Trump and his team have made clear that they’re seeking to replace the hundreds of billions of dollars in lost revenues after the Supreme Court’s February ruling by using different laws to establish new tariffs.
In this case, the administration is starting investigations under Section 301 of the Trade Act of 1974, which could eventually lead to new import taxes. But US Trade Representative Jamieson Greer, in a Wednesday call with reporters, said he did not want to prejudge the outcome of the process.
“The policy remains the same – the tools may change depending on, you know, the vagaries of courts and other things,” Greer said, stressing that the goal was to protect American jobs.
The start of the process to fully replace Trump’s prior tariffs could invite a return of much of the drama that rattled the global economy last year.