By: Mike Smith, Principal, CliftonLarsonAllen Key insights • President Donald Trump's tariffs are reshaping international trade dynamics and additional changes could be forthcoming. • Learn about the potential wide-ranging economic impact on key industries and how it could affect your business and operations. • This is an evolving situation that continues to change. Tariffs have been and continue to be a hot topic. As the tariff landscape continues to evolve, it can bring a level of uncertainty for many businesses across industries. As we continue...

Transshipment has fast become the second most important word in trade, after tariff. The reason is that the U.S. government is intensifying its oversight of importers suspected of using transshipment through third countries to evade duties on Chinese goods. And the risks and costs of violating the rules can be severe. This increased scrutiny comes as shifting trade flows highlight how exporters are adjusting to the new tariff environment. In August, China’s exports to the U.S. fell 33% year-over-year, while shipments...

The hard work of managing global trade strategies and negotiations continues even when the talk of tariffs fades (ever so slightly) from the headlines. The U.S. has launched a formal consultation process for the upcoming review of the vital U.S.-Mexico-Canada Agreement (USMCA), asking the public to comment on any benefits and shortcomings of the trade deal. Stakeholders have 45 days to submit feedback on issues including balanced trade, market access, and economic security. The first USMCA joint review meeting is set...

By Ian Hunter, Director, OCO Global Cheaper money has changed boardroom calculus. With the Federal Reserve’s interest rate cut, European CFOs deciding where to build the next plant or R&D hub now see the United States as easier to finance and faster to scale. Momentum in foreign direct investment (FDI) was already tilting west; lower rates nudge more plans from deck to delivery, especially in states that pair credible incentives with execution. Think Pennsylvania, Texas, New York, South Carolina, Ohio,...

By: Kerem Bilge, Counsel, Thompson Hine LLP Over the past decade, the global trade landscape has shifted sharply toward more complex tariff regimes. During President Donald Trump’s first administration, the U.S. government imposed wide-ranging Section 301 tariffs on hundreds of billions of dollars on imported goods from China and Section 232 national security tariffs on U.S. imports of steel and aluminum products worldwide. During President Joe Biden’s administration, most of these tariffs were maintained and further increased on certain Chinese-origin...

The Trump administration’s new 40% tariff on transshipped goods is causing more trade confusion. And it appears Vietnam is at the epicenter, due to the high amount of Chinese products rerouted through the Southeast Asian country. Since there’s no clear definition of the new regulation, Vietnam’s export growth could wind up as collateral damage. Central to the issue is that many Vietnamese exports rely on Chinese inputs, so it’s hard to distinguish between legitimate goods and transshipments. Rushing enforcement with no...

Commission President von der Leyen calls for Europe’s “Independence Moment” On Wednesday (10 September), European Commission President Ursula von der Leyen delivered the State of the European Union address (SOTEU) in the European Parliament in Strasbourg. In this year’s address, President von der Leyen presented a stark appraisal of a world in transition, declaring that Europe is in a “fight for its future.” Against a backdrop of global instability and geopolitical shifts, Ms. von der Leyen argued that this must be Europe’s “Independence...

By Ryan Last, Associate, Troutman Pepper Locke On September 5, President Trump signed an executive order introducing new exemptions (and removing other exemptions) to reciprocal tariffs, while also setting out a new framework that aims to promote the conclusion of more definitive trade and security agreements in exchange for additional forms of tariff relief. The executive order, titled “Modifying the Scope of Reciprocal Tariffs and Establishing Procedures for Implementing Trade and Security Agreements” (the Order), builds on previous actions, notably Executive Order 14257 of April...