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Nicole Looks (Netherlands)

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EU: Formalization of the announced 90-day suspension and additional package of EU tariffs on imports of US originating products

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On 14 April 2025, the European Commission accepted Implementing Regulation (EU) 2025/778 (link), which lays down (additional) retaliatory measures to counter balance those imposed by the US on EU steel and aluminum: At the same time, the European Commission adopted Implementing Regulation (EU) 2025/786 (link), formalizing the 90-day suspension of retaliatory tariffs on imports of US-originating products listed in Annex I, II and III of Implementing Regulation (EU) 2025/778 (link) until 14 July 2025 (see…

EU: EU and US Agree to 90-Day Tariff Pause: A Step Towards Stabilizing Global Trade

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Following the 90-day pause by President Trump on the individualized reciprocal tariffs (see our blog post here), the European Union (EU) followed suit and introduced a 90-day postponement of its retaliatory tariffs aimed at the US. This decision was made to allow both parties to engage in further negotiations and potentially reach a more amicable trade agreement. European Commission President Ursula von der Leyen welcomed President Trump’s decision, stating that the pause would help stabilize…

EU: Highlights of EU Trade Commissioner’s announcement on future of EU-US trade

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Introduction Yesterday Commissioner MaroĆĄ Ć efčovič at the Foreign Affairs Council (Trade) held a press conference following the recent developments following Trump’s “Liberation Day” Tariffs Announcement (see our blog post on that topic here). Commissioner Ć efčovič addressed the current trade landscape between the European Union (EU) and the United States (US), highlighting both the challenges and opportunities for strategic collaboration. The Impact of Tariffs on EU Exports Approximately €380 billion worth of EU exports to the US,…

EU: First package of retaliatory tariffs delayed to 15 April

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Yesterday, following the adoption of Commission implementing Regulation (EU) 2025/664, the European Commission has extended the ongoing suspension of retaliatory tariffs until 14 April 2025. These tariffs were initially adopted in 2018 (Commission Implementing Regulation (EU) 2018/886) and 2020 (Implementing regulation – 2020/502 – EN – EUR-Lex) and were supposed to reapply and come into effect tomorrow. This decision was already announced by the EU trade commissioner during a hearing at the European Parliament on…

EU imposes new retaliatory tariffs on US products

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There is never a dull moment in the ongoing trade war. With effect of 12 March 2025, the US reinstated the June 2018 Section 232 tariffs on steel and aluminum products at a rate of 25% and extended these tariffs to a larger scope of steel and aluminum products (see our prior blog post on the US Section 232 tariffs here). On 12 March 2025, the EU announced countermeasures which shall protect European businesses and…

Trump Tariffs: Customs Valuation and TP Impacts and Mitigation Strategies

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Implications of and potential mitigation strategies for U.S. and Global Tariff Changes from tax and transfer pricing perspectives Overview of Tax/Transfer Pricing Challenges The recently proposed increases in US tariffs on imports from Canada, Mexico (albeit currently paused) China and the EU, among others, introduced by the Trump administration, and the anticipated response from those jurisdictions impacted by the proposed US tariffs will have several transfer pricing implications which multinational enterprises (MNEs) should consider. These…

Round Two – Trump and Tariffs (Webinar) – February 20

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Baker McKenzie’s Global Customs Practice invites you to join us for a follow up webinar on “Trump and Tariffs: Section 232 Tariff Announcement, Reciprocal & Retaliatory Tariffs and More”This one-hour webinar will take place Thursday, 20 February 2025 at 10:00 CST / 11:00 EST / 17:00 CET.On February 10th President Trump announced that 25% tariffs will be imposed on all steel and aluminum products imported into the US from all countries, including Canada, Mexico, the EU and UK,…

EU and UK: Expected response to US Section 232 tariff announcement

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As reported in our earlier blog here, on Monday 10 February 2025, President Trump announced that 25% tariffs will be imposed on all steel and aluminum products imported into the United States (“US”), including from the EU and the UK which were previously subject to exclusions. These tariffs are due to come into effect on 12 March 2025. The key question now is how other jurisdictions such as the EU and the UK will retaliate. …

EU: ECJ Judgment in Case C‑781/23 regarding temporary admission procedures

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On 12 December 2024, the European Court of Justice (ECJ) delivered a judgment in the case C‑781/23, which has implications for businesses importing goods under temporary admission. The case arose from a request for a preliminary ruling from the Högsta förvaltningsdomstolen (Supreme Administrative Court, Sweden) and involved Malmö Motorrenovering AB and AllmĂ€nna ombudet hos Tullverket. Background of the Case The central issue in this case was the interpretation of Article 251 of the Union Customs Code (UCC).…

UK: United Kingdom joins CPTPP bloc

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On 15 December 2024, the United Kingdom (UK) joined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The UK has joined the 11 existing members of the CPTPP – Japan, Canada, Australia, Singapore, Mexico, Malaysia, New Zealand, Brunei, Chile, and Peru – becoming the first non-founding member of the CPTPP and also the first European country to join the bloc. The CPTPP is a trade agreement, spanning five continents and covering almost 600 million…