By Ryan Last, Associate, Troutman Pepper Locke On September 5, President Trump signed an executive order introducing new exemptions (and removing other exemptions) to reciprocal tariffs, while also setting out a new framework that aims to promote the conclusion of more definitive trade and security agreements in exchange for additional forms of tariff relief. The executive order, titled “Modifying the Scope of Reciprocal Tariffs and Establishing Procedures for Implementing Trade and Security Agreements” (the Order), builds on previous actions, notably Executive Order 14257 of April...

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What happened?  President Trump issued an Executive Order and Fact Sheet on September 5 modifying the scope of the reciprocal tariffs first announced on April 2, 2025 via Executive Order 14257, and establishing a framework for implementing trade and security agreements with US partners. The Executive Order revises Annex II of Executive Order 14257, which had carved out certain categories of goods from reciprocal tariff coverage. Under the new changes, bullion-related articles, certain critical minerals, and additional pharmaceutical products subject to pending Section 232 investigations...

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By Bärbel Sachs, Tobias Zuber, Caroline Glöckle, Yuliya Zhmuro, and Theresa Bachmann, Noerr A. Introduction Almost a month after U.S. President Donald Trump and EU Commission President Ursula von der Leyen reached a high-level political agreement aimed at resetting the transatlantic trade relationship and preventing sweeping U.S. import tariffs from coming into force, the EU Commission and the U.S. published a Joint Statement on a United States – European Union framework on an agreement on reciprocal fair and balanced trade (“Joint Statement”) on...

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According to a 2025 Peak Season Confidence Report, 84% of industry leaders believe their supply chain systems are ready for peak demand, representing a significant improvement over last year. Additionally, fewer leaders anticipate tough conditions for the remainder of the year. This likely indicates investments in technology integration and workforce strategies, such as cross-training and early seasonal hiring, are working. Supplier diversification is now a core strategy for many, with companies focusing on data interoperability and real-time visibility rather than...

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By Jamey B. Collidge, Ryan M. Graham, Ryan Last, and Charlene C. Goldfield On August 29, 2025, the U.S. Court of Appeals for the Federal Circuit affirmed a ruling by the U.S. Court of International Trade, holding that President Trump overstepped the authority provided by Congress under the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) (IEEPA) to impose broad tariffs aimed at addressing drug trafficking, illegal migration, and international trade imbalances. The court deemed unlawful those tariffs imposed on...

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