Despite the Port of Los Angeles rebounding in June with record-setting cargo volumes, Executive Director Eugene Seroka is warning that newly imposed Trump administration tariffs threaten importers, retailers, and potentially holiday sales. The sudden rate hikes on major trading partners, including Japan, the EU, and China, are adding cost and uncertainty, And, discouraging retailers from taking inventory risks ahead of Christmas. Seroka and the National Retail Federation are expecting volumes to drop throughout the rest of 2025. Policymakers are being...

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By Brent Kraus, Flutra Kacuri, Sabrina Bandali, Zirjan Derwa and Adam Kalbfleisch, Bennett Jones The total number of Canadian M&A deals declined in the second quarter of 2025 as tariff disruption and uncertainty hampered dealmaking activity. However, the overall value of announced Canadian deals was up considerably in the second quarter of 2025, resulting in higher average deal sizes. A similar scenario of fewer deals and higher values is playing out in the United States and globally. In our latest quarterly...

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The U.S. Department of Justice (DOJ) has announced that it is expanding its enforcement priorities to include a focus on import-related fraud — particularly schemes aimed at evading U.S. tariffs and duties. This marks a notable shift in the DOJ’s trade enforcement agenda, which has traditionally emphasized export controls and sanctions compliance. The shift follows a newly issued memorandum by the DOJ’s Criminal Division, outlining how tariff evasion will be treated as a central enforcement priority moving forward. Companies that import goods...

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By Kevin Brown, Tax Principal, ANCHIN Anchin’s U.S. Expansion Playbook is a bi-weekly article series that will provide insight into the tax, accounting, operational and practical considerations for non-U.S. businesses looking to expand their operations into the U.S. The Anchin International Tax group has significant expertise and experience in assisting overseas businesses seeking entry into the U.S. market. Working closely with our industry specialists, we provide tailored support to ensure a seamless transition and successful integration into the U.S. This series of articles will...

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Commission unveils draft 2028-2034 Multiannual Financial Framework On Wednesday, 16 July, the European Commission announced the EU’s Multiannual Financial Framework (MFF) for 2028-2034. The MMF -the EU’s long-term budget- is planned to amount to €2 trillion, with European Commission President von der Leyen stating, “The next MFF will be the most ambitious ever proposed. It is more strategic, more flexible, more transparent, and we’re investing more transparent, and we’re investing more in our capacity to respond and more in our defence.” Key features...

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