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…
Baker McKenzie’s Canadian international trade and customs team is publishing a series of articles reviewing 2024 trade and customs compliance developments and looking ahead to 2025’s burgeoning issues. This article focuses on Canada’s trade remedies regime. Before we dive into the trade remedies outlook, here is an overview of the current state of politics in Canada, which includes a discussion of the legislative powers that remain while Canadian Parliament is prorogued until March 24, 2025.…