U.S. launches Section 301 trade probe into 16 countries including South Korea, China, and Japan

[Financial News] The administration of Donald Trump in the United States of America (U.S.) has begun procedures to impose additional tariffs on South Korea, China, Japan, and other economies.
The Office of the United States Trade Representative (USTR) announced on the 11th (local time) in the Federal Register that it is initiating an investigation under Section 301 of the Trade Act of 1974 into 16 economic entities, including South Korea, China, and Japan.
The investigation targets South Korea, China, Japan, the European Union (EU), Singapore, Switzerland, Norway, Indonesia, Malaysia, Cambodia, Thailand, Vietnam, Taiwan, Bangladesh, Mexico, and India.
Section 301 of the Trade Act of 1974 authorizes the U.S. government to take retaliatory measures, including the imposition of tariffs, against unreasonable or discriminatory policies of foreign governments that restrict or burden U.S. trade.
The probe was launched as the Trump administration moved to introduce alternative tariffs after reciprocal tariffs imposed under the International Emergency Economic Powers Act (IEEPA) were invalidated by a ruling from the Supreme Court of the United States (SCOTUS) last month.

km@fnnews.com Kim Kyung-min Reporter