The USTR opened new trade investigations targeting China, the EU, Japan, Korea, India and 11 more countries over "structural excess capacity in manufacturing." It's the broadest tariff escalation move since February's 10% blanket tariff. Average tariff rates are now at WWII levels. And with oil already above $112, this adds a whole other layer of inflation pressure nobody needed.
Trump Launches Section 301 Probes Against 16 Countries, Including EU and China
The USTR opened new trade investigations targeting China, the EU, Japan, Korea, India and 11 more countries over "structural excess capacity in manufacturing."
