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Trade News
Trade News
14
Apr
Today, the Council presidency and the European Parliament have reached a provisional agreement on a regulation aimed at addressing the negative trade-related effects of global overcapacity on the EU steel market.
The regulation will introduce a new framework to protect the EU steel sector from global excess production and trade diversion, while ensuring that the measure remains compatible with the EU’s international trade obligations and sufficiently flexible for economic operators, including downstream industries. It will replace the current EU steel safeguard...
13
Apr
U.S. Customs and Border Protection (CBP) has issued operational guidance for obtaining refunds of duties paid under the International Emergency Economic Powers Act (IEEPA), implementing a new electronic process through the Consolidated Administration and Processing of Entries (CAPE) tool in the Automated Commercial Environment (ACE) Secure Data Portal (ACE Portal). Beginning April 20, 2026, CAPE will be the exclusive mechanism for submitting IEEPA refund claims for entries that include at least one dutiable IEEPA Harmonized Tariff Schedule of the United States...
10
Apr
In a previous alert, we reported that the U.S. Supreme Court had found President Donald Trump’s tariffs issued under the International Emergency Economic Powers Act (IEEPA) to be illegal.
We subsequently reported that the U.S. Court of International Trade (“the Court”), in an effort to implement the Supreme Court decision, had ordered U.S. Customs and Border Protection (CBP) to issue refunds “automatically” to importers that previously paid IEEPA duties to CBP.
In recent days, there have been significant developments:
• The U.S. Court of International...
10
Apr
Speech by IMF Managing Director Kristalina Georgieva at the 2026 Spring Meetings in Washington, DC
Good morning.
A resilient world economy is being tested again by the now-paused war in the Middle East. The conflict has caused considerable hardship around the globe. My heart goes out to all people affected by this war and all wars.
When we welcome ministers and central bank governors to our Spring Meetings next week, our focus will be on how best to weather this latest shock and...
07
Apr
On April 2, President Trump issued a proclamation titled “Strengthening Actions Taken to Adjust Imports of Aluminum, Steel, and Copper into the United States” (the Proclamation) under Section 232 of the Trade Expansion Act of 1962 (Section 232). The Proclamation substantially increases Section 232 tariff rates on many aluminum, steel, and copper products, shifts to applying those tariffs to the full customs value of covered imports, restructures which products are covered through new annexes to the Harmonized Tariff Schedule of the...
06
Apr
In this week’s Roar: Tariff refunds are beginning, global fuel is climbing, China and the Panama Canal, the seafarers stranded in the Middle East, and a surge in global air cargo demand.
As a quick trade update, note that announcements were made last week impacting some metals and pharmaceutical tariffs. Click to read the Metals Fact Sheet and the Executive Order pertaining to Pharmaceuticals.
It’s no longer a matter of if… only when. Finally, the CBP says it will begin refunding tariffs collected under the International Emergency...
06
Apr
Blog | Widening global current account imbalances are best addressed by simultaneous domestic policy adjustments. Industrial policy and tariffs offer a costly fix with unreliable effects on imbalances.
Global current account imbalances are widening again, reversing a decade of steady decline following the global financial crisis. History suggests a clear risk: widening imbalances have often been accompanied by concentrated and lower-quality growth, triggered sectoral dislocations across trading partners, and preceded financial crises or abrupt reversals of capital flows. With the...
02
Apr
In brief
What happened?
Despite extensive negotiations at the World Trade Organization’s (WTO) 14th Ministerial Conference (MC14) held in Cameroon between 26-30 March 2026, Members failed to reach agreement on extending the moratorium on customs duties on electronic transmissions. The moratorium has now expired, as of 30 March 2026. The moratorium had been in place since 1998, preventing WTO Members from imposing customs duties on digitally delivered products such as software, audiovisual content, and other electronic transmissions. In parallel, 66 WTO...
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