USTR Makes Findings and Proposes Action in 60 Section 301 Investigations Relating to Failures to Take Action on Trade in Forced Labor Goods

USTR noticeInvestigation openedPublished 06/02Open the original

Summary

USTR finds the practices of 60 economies that fail to impose and enforce forced labor import bans actionable under Section 301 and proposes additional duties of 10% for economies with or committed to a ban and 12.5% for the rest. Comments are due July 6, 2026, with hearings on July 7, 2026.

By industry

Tariffs & Reshoring1 trading day+2.8%p15 stocks5 trading days+1.1%p15 stocks20 trading days−7.1%p15 stocks
“the U.S. Trade Representative proposes additional duties on all products of the investigated economies”

Day by day after the announcement

Tariffs & Reshoring stocks and the S&P 500 after the announcement, cumulative %
Day	Tariffs & Reshoring stocks	S&P 500
26/06/01	0.0%	0.0%
26/06/02	+3.2%	+0.4%
26/06/03	+1.9%	−0.8%
26/06/04	+2.2%	−0.1%
26/06/05	−1.5%	−2.8%
26/06/08	−1.2%	−2.3%
26/06/09	−0.1%	−2.7%
26/06/10	−2.2%	−4.3%
26/06/11	+3.2%	−2.3%
26/06/12	+3.9%	−1.9%
26/06/15	+0.8%	−0.4%
26/06/16	−0.3%	−0.8%
26/06/17	−1.9%	−1.8%
26/06/18	−2.9%	−1.2%
26/06/22	−3.3%	−1.7%
26/06/23	−5.8%	−2.9%
26/06/24	−6.4%	−2.5%
26/06/25	−4.5%	−3.0%
26/06/26	−5.7%	−3.4%
26/06/29	−8.1%	−2.1%
26/06/30	−8.5%	−1.4%

Korean stocks in these industries

Hyundai Steel 004020
POSCO Holdings 005490
SeAH Steel Holdings 003030

Trades in these industries around the announcement

Members' and insiders' trades in the industries' stocks, 30 days before to 30 days after.

Leon J. TopalianChair and CEO
SellNucor
Sell
Nucor
NUE
$5M
21,954 sh
$5M
Filed 05/19
Traded 05/15
Leon J. TopalianChair and CEO
SellNucor
Sell
Nucor
NUE
$3.7M
16,239 sh
$3.7M
Filed 05/19
Traded 05/15
Celso L. Goncalves Jr.EVP, CFO
SellCleveland-Cliffs
Sell
Cleveland-Cliffs
CLF
$2.9M
214,308 sh
$2.9M
Filed 06/05
Traded 06/05
Leon J. TopalianChair and CEO
SellNucor
Sell
Nucor
NUE
$2.1M
9,366 sh
$2.1M
Filed 05/19
Traded 05/15
Leon J. TopalianChair and CEO
SellNucor
Sell
Nucor
NUE
$1M
4,441 sh
$1M
Filed 05/19
Traded 05/15
Kimberly A. FieldsChair, President and CEO
Sell10b5-1 planAti
Sell10b5-1 plan
Ati
ATI
$4.6M
25,823 sh
$4.6M
Filed 06/04
Traded 06/02
Kimberly A. FieldsChair, President and CEO
Sell10b5-1 planAti
Sell10b5-1 plan
Ati
ATI
$2.7M
13,269 sh
$2.7M
Filed 06/24
Traded 06/22
Kimberly A. FieldsChair, President and CEO
Sell10b5-1 planAti
Sell10b5-1 plan
Ati
ATI
$2.5M
13,865 sh
$2.5M
Filed 06/04
Traded 06/02
Kimberly A. FieldsChair, President and CEO
Sell10b5-1 planAti
Sell10b5-1 plan
Ati
ATI
$2.4M
13,164 sh
$2.4M
Filed 06/04
Traded 06/02
Kenneth Rex QueryEVP
SellNucor
Sell
Nucor
NUE
$2.1M
8,380 sh
$2.1M
Filed 06/03
Traded 06/01
Kimberly A. FieldsPresident, CEO and Director
Sell10b5-1 planAti
Sell10b5-1 plan
Ati
ATI
$1.9M
11,982 sh
$1.9M
Filed 05/12
Traded 05/11
Allen C. BehrEVP
SellNucor
Sell
Nucor
NUE
$1.9M
8,438 sh
$1.9M
Filed 05/06
Traded 05/04
Marshall D. AkinsVP and Chief Comm Officer
SellCarpenter Technology
Sell
Carpenter Technology
CRS
$1.5M
3,434 sh
$1.5M
Filed 05/06
Traded 05/05
John J. HollatzEVP
SellNucor
Sell
Nucor
NUE
$1.4M
5,522 sh
$1.4M
Filed 06/04
Traded 06/03
Kimberly A. FieldsPresident, CEO and Director
Sell10b5-1 planAti
Sell10b5-1 plan
Ati
ATI
$1.4M
8,780 sh
$1.4M
Filed 05/12
Traded 05/11
Marshall D. AkinsVP and Chief Comm Officer
SellCarpenter Technology
Sell
Carpenter Technology
CRS
$1.3M
2,947 sh
$1.3M
Filed 05/06
Traded 05/05
John J. HollatzEVP
SellNucor
Sell
Nucor
NUE
$1.3M
5,038 sh
$1.3M
Filed 06/04
Traded 06/03
Kenneth Rex QueryEVP
SellNucor
Sell
Nucor
NUE
$1.3M
5,149 sh
$1.3M
Filed 06/03
Traded 06/01
James Stanley AndersonSVP
SellSteel Dynamics
Sell
Steel Dynamics
STLD
$1.2M
4,401 sh
$1.2M
Filed 06/08
Traded 06/05
James Stanley AndersonSVP
SellSteel Dynamics
Sell
Steel Dynamics
STLD
$1.1M
4,177 sh
$1.1M
Filed 06/08
Traded 06/05