IMPORTANT TARIFF UPDATE - (5/29) The Court of International Trade has issued a joint decision, ruling that the International Emergency Economic Powers Act (IEEPA) does not authorize many of the new tariffs imposed by way of executive order. As a result, on May 28 the Court ordered that the directives imposing these tariffs be vacated and permanently enjoined. The court has issued a permanent injunction which means the tariffs cannot be collected or enforced unless the ruling is stayed or reversed....

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By Noa Sussman, Director of Global Solutions, TECEX Global trade isn’t just about free trade agreements or currency fluctuations anymore. While those factors still matter, a quieter — and often underestimated — force is reshaping how companies produce, move, and sell their goods across borders: taxes. Not the headline-makers like corporate income tax or capital gains. I’m talking about the less glamorous but increasingly powerful trio: VAT (Value Added Tax), tariffs, and duties. These tools, once left to compliance teams and customs...

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By Erik Smithweiss The U.S. Court of International Trade (CIT) issued a decision May 28 declaring unlawful the IEEPA fentanyl tariffs imposed on Canada, Mexico and China, and the Reciprocal tariffs imposed on all other countries.  V.O.S Selections Inc. et al v. United States, Slip Op. 25-66.  The court found that the International Emergency Economic Powers Act (IEEPA), the statute the President had invoked to justify these tariffs, did not provide the required statutory authority for these assessments. The Government has already filed...

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Written By Jessica Horwitz, Sabrina A. Bandali, Alison FitzGerald, and George Reid, Partners at Bennett Jones, assisted by Rajat Beniwal This blog was published on May 22, 2025 and is accurate as of that date. The tariff landscape is evolving quickly. Please contact one of the authors or a member of the Bennett Jones International Trade and Investment group for the most up-to-date guidance on US tariffs and Canadian surtaxes. It has been a tumultuous spring for businesses involved in trade between Canada...

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Despite fears of a tsunami of containers hitting the Port of Los Angeles, its executive director is downplaying them. Admitting to a likely increase during the temporary 90-day pause in U.S.-China tariffs, he anticipates volumes will remain below the pandemic peak, partly because elevated freight rates could keep importers cautious. April saw a 9.5% year-over-year rise in throughput, but early May imports dropped 30% due to tariff uncertainties. Additionally, he expects a brief period of 70–80% of normal volume during the...

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By Noa Sussman, Director of Global Solutions, TECEX In today’s increasingly fragmented and protectionist global economy, few areas are more misunderstood — yet more impactful — than trade taxes. Terms like VAT, duties, tariffs, and more recently, duty drawbacks, are often lumped together or misused entirely, even in strategic discussions. But make no mistake: these taxes are no longer just regulatory details relegated to customs departments or accounting teams. They have become strategic levers, influencing sourcing decisions, pricing models, and executive-level trade...

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While tariff policy changes present challenges, they also offer opportunities for strategic acquisitions and operational improvements. Changing tariffs are dramatically reshaping mergers and acquisitions (M&A) and private equity (PE) transactions. As companies and investors strategize their growth and exit plans, understanding the interplay between international trade policy and deal dynamics is critical. The uncertainty surrounding tariffs is leading to a more cautious approach in mergers and acquisitions. Deals are taking longer to close, with extended due diligence periods and more stringent conditions....

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With a new 90-day tariff window, companies are ramping up production. While economists are still expecting a slowdown despite the temporary trade agreement, businesses are resuming factory operations and starting to ship goods. With a surge in shipping demand expected, there’s the potential for higher costs and delays. Some companies plan to reverse price increases and start producing again, while others are simply modifying their product lines in order to manage production schedules. And some are stocking up on products...

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Diminished Duties on China, a Fresh Framework for U.S.-UK Trade Relations, and Other Recent Tariff Updates May 16, 2025 Following the introduction and partial recission of the “Liberation Day” tariffs last month, the latest U.S. government actions have largely—though not universally—continued down the path of an easing tariff burden. Of particular note, the U.S. and Chinese governments recently concluded their first direct trade negotiations since the imposition of reciprocal tariffs, resulting in a mutual agreement to reduce tariff rates for the first time in the...

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European Commission launches strategic dialogues with defence and chemical industries On Monday, 12 May, European Commission President Ursula von der Leyen initiated the first-ever strategic dialogues in Brussels with top representatives from Europe’s defence and chemical industries. These crucial meetings aimed to identify shared challenges and map out strategies to significantly enhance the competitiveness, resilience, and innovation of these vital sectors. Thus, safeguarding European security and economic prosperity in the current evolving global landscape. The Defence industry dialogue The first of these high-level...

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