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TheCorporateCounsel

TheCorporateCounsel.net

A basis for research and practical guidance focusing on federal securities laws, compliance & corporate governance.

DealLawyers

DealLawyers.com

An educational service that provides practical guidance on legal issues involving public and private mergers & acquisitions, joint ventures, private equity – and much more.

CompensationStandards

CompensationStandards.com

The “one stop” resource for information about responsible executive compensation practices & disclosure.

Section16.net

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Widely recognized as the premier online research platform providing practical guidance on issues involving Section 16 of the Securities Exchange Act of 1934 and all of its related rules.

PracticalESG

PracticalESG.com

Keeping you in-the-know on environmental, social and governance developments

Last month, I wrote about the Office of the United States Trade Representative’s report recommending new duties on goods from 60 economies. That report used forced labor violations as a pretense to justify imposing tariffs. This is a longstanding policy goal near and dear to the administration. There are some changes from the Trade Representative’s proposal, including new exemptions. These are discussed in the White House’s Presidential Memo:

“These exemptions encompass

(a) raw materials that if subject to the proposed additional tariffs could lead to the unavailability of domestic supply;

(b) products that could cause economy-wide disruptions if subject to the proposed additional tariffs;

(c) products that cannot be grown or produced in sufficient quantities or at reasonable prices in the United States or obtained from other sources;

(d) products that if exempted from these tariffs would encourage economies that have made commitments to the United States regarding forced labor import prohibitions to implement those commitments or to enact and effectively enforce a forced labor import prohibition; or

(e) articles for which these tariffs may not contribute substantially to the elimination of the acts, policies, and practices of the economies found to be actionable in the investigations described above.”

Ironically, an administration so staunchly opposed to ESG is now using it as the legal underpinning for its trade policy. While countries could hypothetically avoid tariffs by combating forced labor, those that try are likely to find the administration’s goalpost illusory. Hopefully, these new tariffs do not weaken the legitimacy of calls to end modern slavery. These duties are likely to be challenged in court just as the previous tariffs were. We’ll see whether or not the courts buy the administration’s forced labor rationale.

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If you’re not already a member, sign up now and take advantage of our no-risk “100-Day Promise” – during the first 100 days as an activated member, you may cancel for any reason and receive a full refund. But it will probably pay for itself before then. Members also save hours of research and reading time each week by using our filtered and curated library of ESG/sustainability resources covering over 100 sustainability subject areas – updated daily with practical and credible information.

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The Editor

Zachary Barlow is a licensed attorney. He earned his JD from the University of Mississippi and has a bachelor’s in Public Policy Leadership. He practiced law at a mid-size firm and handled a wide variety of cases. During this time he assisted in overseeing compliance of a public entity and litigated contract disputes, gaining experience both in and outside of the courtroom. Zachary currently assists the PracticalESG.com editorial team by providing research and creating content on a spectrum of ESG… View Profile