The United States has announced a new round of Section 301 tariff proposals

On June 3, Beijing time, the Office of the United States Trade Representative (USTR) officially announced a new round of Section 301 tariff increase plan on June 2, local time. It is proposed to impose differentiated additional tariffs on imported goods from 60 economies worldwide in accordance with Section 301 of the Trade Act of 1974. China (including the mainland and Hong Kong) is included in the category of the highest additional tariff of 12.5%. This new policy is an important measure for the United States to reconstruct its tariff system, and may have a profound impact on the global multilateral trade landscape.

According to the official announcement released by the U.S. Trade Representative (USTR), this tariff increase plan sets two differentiated tax rate standards, using the excuse that relevant economies have "failed to implement and effectively enforce measures prohibiting the import of forced labor products." Specifically, an additional 10% tariff will be imposed on economies that have fully or partially implemented import bans on forced labor products, while an additional 12.5% tariff will be imposed on economies that have not effectively implemented relevant control measures. These measures cover major trading partners worldwide. In addition to China, several trading economies such as Japan, South Korea, India, Brazil, and Vietnam are also included in this taxation list.

According to the established process, this tariff proposal will enter the public consultation and hearing stage. The USTR has clearly stated that it will openly solicit written opinions from all sectors of society on the proposal before July 6, and hold a public hearing on July 7 to extensively incorporate the demands and suggestions of enterprises, industry organizations, and relevant economic entities. According to the plan, if the proposal is successfully implemented, the new additional tariff policy is expected to come into effect on July 24, 2026.

Regarding the US tariff proposal, domestic trade experts stated that the unilateral trade protectionist measure of imposing tariffs is not conducive to solving the US's own trade problems, but will instead undermine the mutually beneficial and win-win international trade pattern that has been formed over many years. China has always firmly upheld the multilateral trading system and opposed any unilateral trade sanctions and trade protection actions. China will continue to pay attention to the progress of the proposal and, if necessary, take reasonable and compliant measures to safeguard the legitimate rights and interests of domestic industries and enterprises, ensuring the stable and orderly development of bilateral and multilateral trade.