Banking and Finance Law Daily Wrap Up, VITAL BRIEFING—EU trade legislation moves out of committee, includes ‘sunrise’ clause, (Mar 23, 2026)
For its part, the United States Trade Representative announced that it will investigate the economies of 60 countries for weak protections against forced labor under the Trade Act of 1974, where findings may serve as justification for punitive measures.
U.S. trade policy and the responses of trading partners continue to take shape in the wake of the Supreme Court’s decision to invalidate Trump administration tariffs under the International Economic Emergency Powers Act (IEEPA). Some of the developments that Thomas Thompson delves into in this edition of Tariffs Insights include:
The vote of a key committee of the European Parliament which conditions the favorable treatment of U.S. goods to EU markets on the United States satisfying all of its trade related commitments to the EU. An International Labour Organization study to has found forced labor to have increased by 2.7 million people over recent years, despite a global consensus against the practice,
The potential imposition of widespread tariffs under Section 301 of the Trade Act of 1974 that may largely replace the administration’s sweeping global tariffs imposed under IEEPA, which the Supreme Court struck down in its February decision.
China’s concerns about U.S. forced labor investigations which it has characterized as extremely unilateral, arbitrary, discriminatory, and a typical protectionist act.
To read the article, click EU trade legislation moves out of committee, includes ‘sunrise’ clause.
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