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Member News
Member News
11
Apr
President Trump signed a new executive order, “Modifying Reciprocal Tariff Rates to Reflect Trading Partner Retaliation and Alignment” (the Order) on April 9, marking yet another significant shift in U.S. trade policy. The Order, effective as of 12:01 a.m. EDT on April 10, 2025, amends Executive Order 14257 and the April 8 Executive Order, “Amendment to Reciprocal Tariffs and Updated Duties As Applied to Low-Value Imports from the People’s Republic of China” (the April 8 Order). The latest order intensifies tariff pressure on...
11
Apr
Challenging a slew of state climate-related laws and programs, President Trump’s April 8, 2025 executive order (EO) set the stage for more legal fights between the federal government and states. In the new EO, “Protecting American Energy from State Overreach,” Trump took aim at state laws and programs that address greenhouse gas emissions (GHGs), climate change, environmental justice, and environmental, social, and governance (ESG). Some states have already indicated they will oppose the Trump administration’s efforts.
The EO specifically calls...
11
Apr
U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) published a new final rule to extend recordkeeping requirements to 10 years, effective March 21, 2025
On April 24, 2024, President Joe Biden signed into law the 21st Century Peace through Strength Act. Section 3111 of the Act extends the statute of limitations for civil and criminal violations of the International Emergency Economic Powers Act (IEEPA) and the Trading with the Enemy Act (TWEA) from five years to 10 years....
11
Apr
As the typical tariffs on many goods from China have soared to at least 45 percent, some suppliers in China are offering U.S. purchasers a way of avoiding or reducing the tariffs. However, U.S. importers should carefully scrutinize such offers. Attempting to lower or avoid tariffs without the proper analysis and exercise of reasonable care could lead to enforcement actions by U.S. Customs and Border Protection (CBP) and significant monetary penalties.
The reported proposal: Some suppliers in China are suggesting to their U.S. customers that the supplier issue...
11
Apr
On February 10, President Trump issued Proclamations 10896, “Adjusting Imports of Steel Into the United States” and 10895 “Adjusting Imports of Aluminum Into the United States,” (together, Proclamations), reasserting U.S. national security concerns and implementing additional tariffs on steel, aluminum, and their derivative products under Section 232 of the Trade Expansion Act of 1962, building upon the original tariffs imposed pursuant to Proclamation 9704, “Adjusting Imports of Aluminum Into the United States” and Proclamation 9705 “Adjusting Imports of Steel Into the United States” in 2018. These...
11
Apr
EU implements a 90-day pause on steel and aluminium retaliatory measures
On 9 April, U.S. President Donald Trump called for a 90-day pause on his planned “reciprocal” tariffs. While tariffs on steel, aluminium, and automobiles remain in place, the EU will temporarily face only a 10% tariff.
In response to President Trump, on 10 April, European Commission President von der Leyen announced a 90-day pause in the planned steel & aluminium retaliatory tariffs, – a measure approved by EU member States just the day before. This pause will...
10
Apr
By Diane K. Roskies
In today’s highly mobile world, it is increasingly common for U.S. citizens and permanent residents to own homes abroad. These properties may have been acquired as vacation homes, inherited from parents who remained in their home countries or maintained as dual residences for work, particularly by executives of international corporations. Even after retirement, many individuals choose to retain their non-U.S. homes. In my practice, I have encountered all these scenarios involving U.S. persons who own second...
10
Apr
By Ian Hunter, Director, OCO Global
"I never get too attached to one deal or one approach". Chapter 2 of the Art of the Deal, "Trump Cards: The Elements of the Deal”.
In The Art of the Deal, President Trump underscores the significance of flexibility and the avoidance of excessive structure. Rigid agendas, he believes, can stifle innovation – particularly when market demands require an adaptable approach to capitalize on challenging opportunities. It’s a strategy that shaped his business empire, and now drives...
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