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US Administration Announces Frameworks for Trade Agreements with Argentina, Guatemala, and Ecuador

By , and 4 Mins Read

On November 13, 2025, the Trump Administration announced four frameworks for bilateral trade agreements designed to strengthen economic ties between the United States and Argentina, Guatemala, Ecuador, and El Salvador. These frameworks represent a step in advancing the administration’s trade agenda, which aims to rebalance US trade relationships and reinforce economic security across the Western Hemisphere. The United States–Argentina framework aims to reaffirm the strategic partnership between the two nations. Under the proposed framework for…

Down to 15% and what lies ahead – Switzerland, Liechtenstein, and the US agree on trade agreement framework

By , , and 6 Mins Read

On 14 November 2025, Switzerland, Liechtenstein, and the United States announced a framework to negotiate an Agreement on Fair, Balanced, and Reciprocal Trade (see joint statement here and press release of Swiss government here, see fact sheet here). This development brings long-awaited relief to Swiss market participants after the steep 39% tariffs introduced on 1 August 2025 (Swiss national day) sent shock waves through the Swiss economy. Under the framework, the United States will reduce…

US: New Executive Order Trims Some Agricultural Products from Reciprocal Tariffs

By 2 Mins Read

On November 14, 2025, President Donald J. Trump issued an Executive Order modifying the scope of reciprocal tariffs to exempt certain agricultural products. The tariffs were originally imposed in April to address persistent U.S. goods trade deficits, which were deemed a national emergency under the International Emergency Economic Powers Act (IEEPA), the National Emergencies Act, and the Trade Act of 1974. The action follows an earlier order issued in September that had modified the goods…

South Korea and United States Announce Formalized Trade Deal

By and 3 Mins Read

On November 13, 2025, the United States and South Korea issued a joint factsheet announcing the formalization of a series of trade-related negotiations. The announcement builds upon prior arrangements and reflects ongoing negotiations between the two countries’ leaders, including recent meetings and state visits. The announcement confirms the trade deal announced in July 2025, which set a 15% tariff rate for most South Korean imports, and also represents a comprehensive approach to the critical economic…

US, Vietnam, Malaysia, Cambodia, Thailand: White House Announces Trade Agreements with Quartet of Southeast Asia Trade Partners

By , , , , , and 5 Mins Read

On October 26, 2025, the Trump Administration announced a series of trade agreements with Malaysia and Cambodia, as well as framework agreements with Thailand and Vietnam, marking expanded US economic engagement across Southeast Asia. Vietnam: According to a joint statement, Vietnam will open its market to most US exports on a duty-free basis, while the United States maintains a 20% tariff on Vietnamese goods, with some exceptions, to be listed in Annex III to Executive…

US: New Proclamation Imposes Section 232 on Timber, Lumber, and Wood Product Imports

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On September 29, 2025, President Donald J. Trump issued a proclamation imposing new tariffs on imports of timber, lumber, and wood products as a result of an ongoing investigation under Section 232 of the Trade Expansion Act of 1962 that was initiated on March 1, 2025. In accordance with this investigation, the President concluded that duties should be imposed on certain timber, lumber, and wood products to address national security concerns. To address these concerns,…

US: Federal Circuit Upholds Section 301 Tariffs on Chinese Goods

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On September 25 and after years of litigation, the Federal Circuit upheld tariffs on Chinese goods imposed during President Donald Trump’s first term under Section 301 of the Trade Act of 1974 . The three-judge panel unanimously agreed that the administration had the authority to expand the initial tariffs from USD 50 billion to USD 320 billion worth of Chinese goods on products in 2019. Importers challenged the tariffs arguing they were unlawful. The court…

US: Commerce Department Announces Medical Goods and Industrial Machinery Investigations

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The US Department of Commerce announced that it had initiated separate investigations under section 232 of the Trade Expansion Act of 1962 into imports of a broad array of medical goods and imports of robotics and industrial machinery. These new investigations illustrate the administration’s growing reliance on Section 232 investigations to impose tariffs. Section 232 authorizes the President, through the US Department of Commerce, to examine national security impacts of specific imports. In addition to…

US: New Section 232 Tariffs Announced on Drugs, Trucks, Furniture Effective October 1

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On September 25, President Donald Trump took to his social media platform Truth Social to announce a new wave of tariffs under Section 232 of the Trade Expansion Act, targeting furniture, pharmaceuticals and trucks. These measures, set to take effect on October 1, 2025, are framed as necessary for national security and are being implemented to revitalize domestic manufacturing, and seem to follow from the previously announced initiation of Section 232 investigations covering such products.…

US: Supreme Court Greenlights Review of Dual IEEPA Tariff Cases

By 2 Mins Read

The US Supreme Court granted certiorari in VOS Selections, Inc. v. Trump on September 9, agreeing to review a recent decision of the Court of Appeals for the Federal Circuit that held that the invocation of the International Emergency Economic Powers Act (IEEPA) to impose tariffs on dozens of trading partners is illegal. For further information on what’s at stake in VOS Selections, see our earlier commentary here and here. The Court has also consolidated…