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Trade News
Trade News
04
Jun
Geopolitical rivalry does not end the need for trade cooperation, but the multilateral system must adapt.
For decades, the global economy rested on the premise that international trade was beneficial despite geopolitical differences. The rules of the multilateral trading system, established with the General Agreement on Tariffs and Trade (GATT) in 1947 and embedded in the World Trade Organization (WTO) in 1995, were crafted for a world where governments rarely used trade to achieve geopolitical goals. That world is now...
04
Jun
BOLSTERING DOMESTIC MANUFACTURING OF STRATEGIC METALS: Today, President Donald J. Trump signed a Proclamation adjusting certain metals tariffs to more effectively address national security threats, spur investment in American agriculture, housing, and manufacturing, and facilitate U.S. production of related products.
The Proclamation adjusts the tariffs on agricultural equipment, like combines and harvesters, as well as certain other equipment, from 25% to 15%.
The Proclamation also expands the existing category of industrial equipment subject to a 15% tariff to include mobile...
04
Jun
Key Points
USTR has proposed additional Section 301 tariffs of 10 – 12.5% on imports from all 60 economies under investigation for failing to impose and/or enforce forced labor import bans, affecting nearly all U.S. import trade by value.
Companies with global supply chains should immediately model the cost impact of these proposed tariffs across their sourcing footprint and evaluate whether their products may qualify for limited exemptions, including those for Section 232 goods, certain raw materials, and products posing economy-wide...
04
Jun
What happened?
President Trump issued a Proclamation on June 1 further modifying the Section 232 tariff regimes applicable to imports of aluminum, steel, copper, and certain derivative products. The Proclamation establishes a temporary tariff framework, effective June 8, 2026 through December 31, 2027, for certain products identified in Annex I-C, including a generally applicable 25% duty rate, alternative tariff treatment for products from specified trading partners, and special rules for qualifying United States–Mexico-Canada Agreement (USMCA) products.
This Proclamation also lowers the threshold for...
03
Jun
On Tuesday, the International Trade Committee gave its green light to two pieces of legislation implementing EU tariff commitments under the August 2025 EU-US Joint Statement.
MEPs on the International Trade Committee (INTA) approved the provisional agreement, reached on 2 May 2026 with the EU Council, implementing EU tariff commitments under the August 2025 EU-US Joint Statement.
The two legislative acts were adopted by 31 votes in favour, 6 against, and with 3 abstentions (adjustment of customs duties and opening of tariff...
03
Jun
Key Points
The DOJ has appealed Judge Richard K. Eaton’s universal refund order requiring CBP to return about $166 billion in IEEPA duties.
The government’s three-category framework for IEEPA refunds distinguishes unliquidated entries, finally liquidated entries with CIT suits, and finally liquidated entries without suits, with the last category driving the appeal.
Judge Eaton denied the government’s attempt to substitute lower-ranking officials for CBP Commissioner Rodney S. Scott, ordering Scott to testify despite the government’s “apex doctrine” arguments.
The...
03
Jun
Key insights
President Donald Trump's tariffs have reshaped U.S. trade policy and international trade dynamics, with significant impact on global supply chains.
The Supreme Court now ruled that tariffs imposed under emergency powers are unconstitutional without congressional authorization – and a subsequent court order has set a process in motion for importers to pursue refunds on qualifying entities.
Learn about the potential wide-ranging economic impact on key industries and how it could affect your business and operations.
This is...
02
Jun
US policymakers are rebalancing economic efficiency with national security amid rising geopolitical risk.
When it comes to international trade, countries have always weighed economic efficiency against national security. After World War II, they pursued free international trade through low tariffs in the belief that it was both economically efficient and politically stabilizing. World trade tripled as a share of GDP between 1950 and its peak in 2008, with about half of this trade in intermediate goods, reflecting the importance of cross-border production relationships. Although...
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