The Trump administration made what could be the first in a steady drumbeat of tariff news, announcing plans for a 10% tariff on top allies like the European Union and Canada and a 12.5% rate on other nations, including China. The release from Trump’s trade representative on Tuesday evening said that 59 countries and the 27 member states of the EU had failed to counteract goods being made with forced labor and that the practice “burdens or restricts U.S. commerce” and is therefore ripe for action later this summer under Section 301 of the Trade Act of 1974. The reaction was immediate, with the EU calling the move ... (full story)