By Joe Brusuelas, Chief Economist, RSM and Jason Alexander, Industrials Leader, RSM Key takeaways American firms are already preparing for higher tariffs on goods made in China. One strategy is to pull forward purchases before any tariffs are imposed. Firms also need to rethink their supply chains, and consider bringing them closer to home. With higher tariffs likely under the incoming Trump administration, businesses are already making decisions in a way that will affect economic growth and reshape the global economy. We are already...

The U.S. Trade Representative (USTR) previously proposed hefty fees on Chinese-owned and Chinese-built vessels that enter U.S. ports, hoping to impact China’s dominance in global shipbuilding and logistics. Industry stakeholders are speaking out, including the National Retail Federation and major importers, strongly oppose the plan, warning of higher costs, supply chain disruptions, and port congestion. And if that isn’t bad enough, critics also warn that instead of boosting U.S. shipbuilding, it will simply shift cargo to Canadian ports. Some industry experts...

By Sabrina A. Bandali, Alison FitzGerald, George Reid, Jessica Horwitz, Andrei Mesesan and Quinn Scarlett, Bennett Jones LLP This blog was published on March 5, 2025, and is accurate as of that date. The tariff landscape is evolving quickly. Please contact one of the authors or a member of the Bennett Jones International Trade and Investment group for the most up-to-date guidance on US tariffs and Canadian surtaxes. On February 1, 2025, US President Donald Trump issued an Executive Order announcing a 25% tariff on...

By Susan Kohn Ross, Partner, MITCHELL SILBERBERG & KNUPP LLP Uncertainty and Impact on Compliance Keeping up with the ongoing changes and impact from tariffs continues to be wrought with challenge.  The latest pronouncements on steel and aluminum have not offered improved clarity, only additional questions. Working closely with your trade team is as critical as ever to get assistance in interpreting executive orders and guidance updates by President Trump and Customs and Border Protection. Recap of Steel and Aluminum Tariffs Canada Mexico China/Hong Kong As of...

Renewed hostilities in the Red Sea mean hopes are fading for container lines when it comes to resuming Suez Canal transits. Yemen’s Houthi rebels launched missile and drone attacks on U.S. warships following American airstrikes in Yemen. The President justified the strikes, saying he’s protecting Red Sea shipping, although experts link them to pressure on Iran. The Houthis also vowed to resume attacks on Israel-linked vessels. MSC CEO Soren Toft continues to reiterate that the Suez Canal remains unsafe, and...