What happened?  On day one of his Administration, President Trump signed two Executive Orders (presidential directives to the executive branch, having the force of law) signaling a clear change in direction from the Biden Administration on global tax and trade policy. The first takes aim at the OECD’s two pillar project, referred to as the ‘global tax deal,’ and essentially nullifies the US’s agreement to the project. The second is a series of directions to implement ‘America First Trade Policy.’...

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With President Trump officially back in office, the outlook for global supply chains has started to take shape—though many questions remain. While the President’s first day did not bring any immediate tariff announcements, an official memorandum (available to view here) has been issued by the White House, detailing potential actions the United States may take under existing laws to combat what are considered unfair trade practices and other barriers to U.S. commerce. The President has instructed agency leaders to review and submit...

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In an unpredictable switch, e-commerce volumes have nosedived—and airfreight rates have followed. They’ve dropped by 40% since December. This is mostly led by a mix of retail surpluses and companies front-loading ahead of threatened US tariff changes. Also pushing rates down is intense competition between Chinese carriers on China-Europe routes. European airlines are struggling with strong inbound but weaker outbound volumes. And in the UK, while the currency exchange is increasing airfreight costs, a decrease in volumes from China is...

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In the best news so far of 2025, a tentative agreement on a new six-year master contract has been reached by the ILA and USMX. The two parties decided to keep working under the current agreement until the union could set up a ratification vote. A joint statement said, “With the modernization of East and Gulf coast ports, this agreement creates the capacity they need to maintain our supply chains and protects existing ILA jobs while establishing a framework for implementing technologies that...

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Tentative Agreement on New Six-Year Master Contract Reached by ILA and USMX In an announcement last evening, the United States Maritime Alliance (USMX) and the International Longshoremen's Association (ILA) said they have tentatively agreed on all terms of a new six-year Master Agreement. In order for USMX members to confirm the conditions of the final contract, the two parties decided to keep working under the current agreement until the union could convene its whole Wage Scale Committee and set up a...

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On January 2, 2025, the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) Export Enforcement published its 2024 Year in Review, spotlighting key accomplishments in protecting U.S. national security. In this report, BIS highlights its expanded enforcement capabilities, impactful actions against illicit procurement networks, and collaborations with industry, academia, and international partners. Key Highlights of the 2024 Year in Review 1. Disruptive Technology Strike Force Expansion BIS expanded the geographic reach of its Disruptive Technology Strike Force by adding new units in...

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