60 Nations Caught in New US Trade Crosshairs

U.S. hits 60 nations with probes before tariffs expire

The Trump administration has launched an investigation into 60 global economies, targeting their failure to prohibit the importation of goods produced with forced labor. Led by U.S. Trade Representative Jamieson Greer, the investigation covers major allies such as Canada and the EU, as well as China and Russia.

This aggressive move follows the Supreme Court’s blocking of Trump’s previous tariffs. In response, a temporary 10% duty has been introduced.

Greer intends to conclude the investigations and implement permanent trade remedies before the temporary measures expire in July. It seems that the administration’s goal is to find a way around
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Further reading: US opens unfair trade practices probe of 60 countries over forced labor

Apple cuts China app store commission

Apple is reducing its App Store commission rates in mainland China. This is great news for app developers. Starting this Sunday, the tech giant will reduce its standard fee from 30% to 25%. Meanwhile, small app developers will see their rates fall from 15% to 12%.

This move follows an intense push by Chinese regulators and echoes a growing global backlash against App Store monopolies. The cuts are expected to save major players like Tencent and international developers a combined total of $873 million each year.

Chinese customers will also benefit from this, most likely in the form of lower prices for digital goods and subscriptions. 

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Further reading: Apple cuts China App Store commission fees after government pressure

Canada suffers historic job losses under weight of U.S. tariffs

In a stunning blow to the Canadian economy, the job market saw a huge loss of more than 89,000 jobs in February, driving the unemployment rate up to 6.7%. If the effects of the pandemic are excluded, this is the worst drop in 17 years, with the actual figure far exceeding analysts’ predictions of a 10,000 job gain.

The losses are most likely driven by American tariffs on Canada’s vital steel, auto and lumber industries. The downturn was widespread, eliminating 108,400 full-time positions and significantly affecting both the goods and services sectors. Youth unemployment also surged to 14.1%.

The average hourly wage spiked by 4.2%, creating an economic headache: how to manage rising inflation risks while the labour market cools rapidly under the strain of international trade pressures.

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Further reading: Canada’s labor market dips sharply in February, unemployment rate up

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Glencore refinery workers halt production over stalled wage talks

Members of the Australian Workers’ Union (AWU) recently staged a four-hour strike at Glencore’s copper refinery in Townsville, North Queensland. This action followed a silent one-year negotiation phase. The workers are demanding higher pay to keep up with rising prices and better working conditions.

In response, Glencore stated that it is still committed to reaching a fair agreement. However, the company accused the union of ‘political grandstanding’, claiming that such public displays could hinder the progress made during private negotiations. While the workers have returned to their jobs, the union has indicated that further strikes may occur in the future.

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Further reading: Workers strike at Glencore’s Australia refinery over pay dispute

Editor’s Note: The opinions expressed here by the authors are their own, not those of impakter.com — In the Cover Photo: Satellite image of the US at night. Cover Photo Credit: Wikimedia Commons