Latest Posts
Search for:
Author

Jennifer F. Revis (UK)

Browsing

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

By , , , and 3 Mins Read

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

By , , and 1 Min Read

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

By , , and 4 Mins Read

Introduction Yesterday Commissioner Maroš Šefčovič 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 Šefčovič 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,…

UK: Government launches consultation into potential retaliatory tariffs against the US

By , and 2 Mins Read

On 3 April 2025, the UK Government published a consultation on the impact of any future tariffs on UK imports from the US. The consultation followed an announcement by the UK Trade Secretary in Parliament that the UK Government is considering “every option” in response to US President Trump’s imposition of “Liberation Day” import tariffs on the UK of 10%. For further details regarding the announcement of these tariffs and the global impact, please see our blog…

Upcoming Event: LATAM Trade Day in São Paulo

By , , , , , , , , , , , and 2 Mins Read

Trench Rossi Watanabe* is delighted to host an in-person conference: LATAM Trade Day: 100 Days of the Trump Administration – New Trends For International Trade. Along with the Brazilian team, the panels will feature guest speakers from Baker McKenzie from across the US, Europe, Asia and of course Latin America – including colleagues from Colombia, Argentina, Mexico, Peru, Chile and Venezuela. Our inaugural LATAM trade day will provide clients with insights into the latest geopolitical developments…

EU imposes new retaliatory tariffs on US products

By , , , , , and 4 Mins Read

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…

The impact of tariffs on the life sciences industry

By , , and 9 Mins Read

Import tariffs have become the priority trade issue since President Donald Trump took office on January 20, 2025, with a wide variety of measures announced and imposed. These tariffs have the potential to disrupt all industries; however, they pose unique challenges for the life sciences industry, in particular the pharmaceutical and medtech industry, whose products have typically not been subject to customs duty on cross-border movements. We have set out below i) a summary of…

Trump Tariffs: Customs Valuation and TP Impacts and Mitigation Strategies

By , , , , , , , , , , , , and 3 Mins Read

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…

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

By , , , , , and 4 Mins Read

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. …

Trump and Tariffs: Focus on the US, Canada and Mexico (Webinar)

By , , , , and 2 Mins Read

Baker McKenzie’s Global Customs Practice invites you to join us for a webinar we’ll be hosting on “Trump and Tariffs: Focus on the US, Canada and Mexico”.This one-hour webinar will take place Wednesday, 5 February 2025 at 10:00 Mexico City / 11:00 EST / 17:00 CET. On February 1st 2025, President Trump signed executive orders imposing the long-anticipated tariffs he has called on for Canada and Mexico including 25% tariffs on non-energy imports from Canada and on all…