The European Union this week announced an agreement to ban products made with forced labor, a decision that will oblige organizations to track and declare more information about their supply chains for goods entering EU markets.

A framework to enforce the ban will give the European Commission new investigatory powers based on technological solutions and cooperation with other authorities and countries. Products that are found to have been made using forced labor will not be allowed to be sold within the European Union, either directly or online. They might be confiscated at the borders, and companies that do not comply will be fined.

Ruth Prickett graduated from Cambridge University with a BA hons in History and has specialized in business and finance journalism for the past 20 years. She was editor of Financial Management, the magazine...