By Frank Desiderio, Partner, and Arthur Bodek, Partner, Grunfeld Desiderio Lebowitz Silverman & Klestadt Even before all of the craziness that was kicked off on “Liberation Day”, GDLSK partners Frank Desiderio and Arthur Bodek were invited to give a presentation entitled “Truth or Dare – Trump Tariffs – Truth v. Fake News” to the Quebec General Delegation in New York on March 11, 2025.  We addressed the then current state of affairs as it related to: Brief History of Trade War Tariffs Review...

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The other shoe has dropped. Last week President Trump announced more tariffs that will increase duties on most imports from 10% to 40+% depending on the export country. No one should be surprised by the new tariffs, yet the high-level of uncertainty remains for how supply chains and costs will be impacted. A main purpose of the US tariffs is to return more “strategically vital” manufacturing to the US. A new “baseline” tariff of 10% went into effect on April...

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Key Takeaways Even prior to yesterday’s “Liberation Day” announcements introducing a 10 percent baseline tariff (effective April 5) and additional country-specific reciprocal tariffs (effective April 9), which will dramatically alter international trade, there have been substantial changes in U.S. tariff policy. Trade-related actions have already affected, and will continue to affect, front-line U.S. importers, downstream consumers, and multinational and international businesses alike with strong vigor. Savviness about Harmonized Schedule (HS) classification and knowing what degree of third-country manufacturing activity...

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Go-To Guide: New 25% tariff on imported cars starts April 3, 2025, citing national security concerns. Automobile parts from USMCA countries temporarily exempt, but full implementation expected by May 3, 2025. USMCA-qualifying vehicles may receive partial relief based on U.S. content value. Importers that do not carefully document U.S. content may face retroactive, full tariffs on misstatements. On March 26, 2025, President Donald Trump announced a proclamation, “Adjusting Imports of Automobiles and Automobile Parts Into the United States,” directing the...

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By Matthew Bock, Managing Partner, BOCK TRADE LAW On April 2, 2025, the U.S. implemented a sweeping tariff regime via an executive order, introducing a baseline 10% tariff on goods from all countries, effective April 5, 2025, and higher reciprocal tariffs on specific trading partners, including the European Union (EU), effective April 9, 2025.  For the EU, the reciprocal tariff rate was set at 20%, reflecting the U.S. administration’s intent to address perceived trade asymmetries and a significant goods trade...

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On April 2, 2025, invoking his authority under the International Emergency Economic Powers Act of 1977 (IEEPA), President Donald Trump announced reciprocal tariffs against all countries. Certain countries with which the United States has the largest trade deficits will be subject to higher, individualized reciprocal tariffs. Prepared by Clinton Yu, Tayo Osuntogun, and Luis Arandia, Barnes & Thornburg’s International Trade Practice Group attorneys:  Below are the pertinent details from the Executive Order and White House Fact Sheet. Effective April 5,...

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By Joe Brusuelas, Chief Economist, RSM and Jason Alexander, Industrials Leader, RSM Key takeaways American firms are already preparing for higher tariffs on goods made in China. One strategy is to pull forward purchases before any tariffs are imposed. Firms also need to rethink their supply chains, and consider bringing them closer to home. With higher tariffs likely under the incoming Trump administration, businesses are already making decisions in a way that will affect economic growth and reshape the global economy. We are already...

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