Trump Administration Launches Section 301 Probes to Replace $1.6 Trillion in Lost Tariff Revenue
β’ The Trump administration is using Section 301 of the 1974 Trade Act to investigate foreign factory capacity and forced labor, aiming to offset $1.6 trillion in tariff revenue lost due to a Supreme Court ruling on February 20. β’ Public hearings are scheduled for May 5 on factory capacity and April 28 on forced labor, with the goal to complete probes before the current 10% import tariffs expire in 150 days. β’ Trump imposed a temporary 10% tariff on all imports post-ruling, plans to raise it to 15%, but faces challenges from two dozen states; remaining tariffs on China, Canada, steel, lumber, and cars expected to yield $668 billion over a decade.
latimes.com