US opens new unfair-trade probes to rebuild Trump's tariff pressure
CNA
Singapore is among the US' trading partners subject to the excess capacity probe. The US said it found that Singapore had excess global capacity in semiconductors despite a trade deficit.
WASHINGTON: US President Donald Trump's administration on Wednesday (Mar 11) said it was launching two new trade investigations into excess industrial capacity in 16 major trading partners and into forced labour, to rebuild tariff pressure after the US Supreme Court tore down much of Trump's tariff programme last month.
US Trade Representative (USTR) Jamieson Greer said that the "Section 301" unfair trade practices investigation could lead to new tariffs imposed against China, the European Union, India, Japan, South Korea and Mexico by this summer.
Other trading partners subject to the excess capacity probe include Taiwan, Vietnam, Thailand, Malaysia, Cambodia, Singapore, Indonesia, Bangladesh, Switzerland and Norway.
Canada, the second-largest US trading partner, was not mentioned as a target of the probe.
Trump said the US strikes had "totally demolished" most of Kharg Island and warned that more could follow, adding: "We may hit it a few more times just for fun."
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The oil will be released in the form of loans that companies will return with extra barrels as a premium, the US Energy Department said.
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A second arms package, worth around US$14 billion, could be approved for Taiwan after US President Donald Trump visits Beijing later this month.
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