On June 3, President Trump signed a proclamation increasing tariffs on certain imported steel and aluminum to 50% under Section 232 of the Trade Expansion Act of 1962. The proclamation increases the applicable rate of these duties from 25% and makes additional changes as to the applicable duties for certain products which could be subject to multiple tariff schemes. A summary of the effects of this June 3 proclamation are outlined in this update. Key…
Following a busy week in trade, with numerous US court decisions over the past days, businesses may be left wondering as the week wraps up: where does the recent flurry of decisions leave us? Where things stand Refresher on how we got here
In a landmark decision, the United States Court of International Trade (âCITâ) has ruled against the President’s imposition of tariffs under the International Emergency Economic Powers Act (âIEEPAâ). The decision (involving two consolidated cases, V.O.S. Selections, Inc. et al. v. United States of America et al. and The State of Oregon et al. v. United States Department of Homeland Security et al.), is the first court decision on the Administration’s trade policy and the first…
In early May 2025, President Donald Trump proposed a new tariff policy targeting foreign-made films. In a post on his social media platform, President Trump announced plans to impose a 100% tariff on all movies produced outside the United States and imported for American audiences. The move, he said, is necessary to protect American jobs and the domestic film industry, which he said is being undercut by foreign governments offering generous production incentives to lure…
On May 12, 2025, the United States and China announced their agreement to reduce the high tariff rates imposed on each other’s goods since early April while they enter into consultations to resolve their respective trade concerns. The agreement remains a temporary measure rather than a comprehensive resolution. US Tariff Modifications The United States will, for an initial period of 90 days, reduce the “reciprocal” tariff rate on Chinese goods from 125% to the baseline…
On April 17, 2025, the United States Trade Representative (USTR) issued a final notice of action in its investigation under Section 301 of the Trade Act of 1974 of China’s maritime, logistics, and shipbuilding sectors for abusive and discriminatory practices associated with their sector dominance. In addition to introducing new fees and restrictions on Chinese-built, -owned, and -operated vessels, the notice of action also introduces new requirements on liquified natural gas (LNG) tankers and proposes…
Yesterday, President Trump announced a 90-day postponement of the individualized reciprocal tariffs for most countries (see our blog post on these tariffs here), with the notable exception of China. This decision comes amidst ongoing global trade tensions and aims to provide temporary relief to international trade partners. However, the baseline tariff of 10% for most countries worldwide, which took effect on April 5, 2025, remains in place without a specified end date. China had previously indicated…
At 4 PM EDT on April 2, 2025, President Trump announced his reciprocal tariffs on all imports into the United States. Importantly, goods from Canada and Mexico were excluded from additional duties. Other announced rates include: United Kingdom (10%), EU (20%), China (34%), Vietnam (46%), Taiwan (32%), South Africa (30%), Japan (24%), India (26%), South Korea (25%), and Brazil (10%). While the White House Fact Sheet and Executive Order have been released, official documents referenced…
In the latest of a series of recent tariff developments, the White House has announced a temporary indefinite suspension of tariffs on certain goods from Canada and Mexico which comply with the United States-Mexico-Canada Agreement (USMCA) origin requirement, effective from 7 March 2025. The tariffs, initially imposed on 4 March 2025, included a 25% duty on Canadian and Mexican goods, with a reduced 10% rate for Canadian energy products. While several White House officials have…
President Donald Trump confirmed on March 3, 2025, that the long-anticipated tariffs called for on Canada and Mexico would take effect, alongside additional tariffs against Chinese imports. The 25% tariffs against Canada and Mexico came into force on March 4, 2025, after a 30-day suspension of the measures, which had been paused pending negotiations between the countries. An additional 10% tariff has been imposed against Chinese imports, which will be applied on top of the…