In this week’s Roar: The latest from the Strait of Hormuz, extended delays across Asian ports, the FMC denies a request, China-Europe Railway Express volumes jump, and the impacts of losing the de minimis rule. After weeks of disruption, the Strait of Hormuz has apparently reopened to “non-hostile” ships, which has eased some of the pressure on oil prices and global supply chains. Extreme political rhetoric aside, with vessel tracking via GPS unreliable and the “shadow fleet” operating in the region, it’s...

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The Supreme Court’s February 20, 2026, decision in Learning Resources, Inc. v. Trump upended the legal basis for billions of dollars in tariffs on imports imposed by the Trump administration. The Court held that the International Emergency Economic Powers Act (IEEPA) did not authorize the sweeping tariff regime, but it did not address how past collections should be refunded, leaving refund mechanics and timing to be worked out through U.S. Customs and Border Protection (CBP) in coordination with the U.S. Court of International...

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Introduction International trade developments have now been hitting the headlines for many months, amid ongoing global trade agreements, trade arguments, and increased protectionism, all of which have become gradually more commonplace across the globe. Some of these carry the risk of major tariffs and duty increases, which can be high and abrupt, and can significantly interrupt supply chains and add material costs. These are also in addition to numerous emerging and rigorous frameworks affecting global trading conditions, including not-least those...

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On March 2, 2026, the Office of the U.S. Trade Representative (USTR) delivered President Donald Trump’s 2026 Trade Policy Agenda and 2025 Annual Report to Congress. This year’s trade agenda seeks to promote U.S. interests abroad and reduce trade deficits by pursuing trade deals with other countries and strengthening domestic manufacturing. 2025 Annual Report The 2025 Annual Report provides a comprehensive overview of U.S. trade agreements, negotiations, and enforcement activities. It covers various trade initiatives, preference programs, and bilateral and multilateral engagements...

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U.S. Customs and Border Protection (CBP) has submitted a series of declarations to the U.S. Court of International Trade (CIT) in Atmus Filtration, Inc. v. United States (Court No. 26-01259) — on March 6, March 12, and March 19 — outlining both the legal and operational framework for refunds of duties imposed under the International Emergency Economic Powers Act (IEEPA). These developments follow the U.S. Supreme Court’s February 20, 2026, decision, holding that IEEPA does not authorize the President to impose...

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