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...

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...

The Current Status of IEEPA Refunds To quickly recap, the U.S. Supreme Court ruled that IEEPA tariffs were unlawful in late February. As a result, those tariffs stopped being collected, and the U.S. Court of International Trade has since ruled that importers are entitled to refunds. Shortly after, U.S. Customs and Border Protection (CBP) indicated that its existing systems cannot process the refunds tied to the IEEPA tariffs but would begin building a new mechanism to handle them. The agency recently...

Exporters operating in global markets often face a familiar challenge: delivering goods today while waiting weeks or even months to receive payment.  In many industries, buyers expect suppliers to offer open-account payment terms ranging from 60 to 120 days. While these terms help buyers manage their own cash flow, they create a working capital gap for exporters who must finance production, logistics, and operating expenses before payment arrives.  To bridge this gap, companies typically rely on external financing. Two common options are traditional...