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Trade News
Trade News
02
Sep
In a split decision, 7 – 4, the Court of Appeals for the Federal Circuit (“CAFC”) affirmed the Court of International Trade’s (“CIT”) decision holding that President Trump’s IEEPA duties are contrary to law.
This decision is limited to IEEPA Reciprocal Tariffs and IEEPA Fentanyl Tariffs (currently applicable on goods from China, Mexico and Canada) and does not invalidate the Section 232 tariffs on steel/aluminum/copper and derivatives and automotive products. While the CAFC held that IEEPA tariffs are contrary to law,...
27
Aug
By Nina Furbach and Iván Ordoñez Martínez
Services are playing a growing role in global trade. The ECB Blog shows that this trend has been driven by a decline in non-tariff trade barriers. The euro area has benefited more than other regions and is highly competitive in the services sector.
Technological progress is driving a new phase of globalisation. Global trade has long been dominated by manufacturing goods. Yet, over the past decade, services trade has grown significantly faster, as technology...
26
Aug
By Dr. Eckart Gottschalk, Dr. Kai Westerwelle, and Dr. Nicolas Wiegand, CMS
At a meeting between US President Donald Trump and EU Commission President Ursula von der Leyen on 27 July 2025, the US and the EU agreed on the introduction of a uniform, top flat rate for US tariffs of 15 % on goods from the EU.
• The 15 % cap applies to almost all EU exports that are currently subject to reciprocal tariffs. However, if a most-favoured nation (MFN) tariff rate...
21
Aug
The EU and US have issued a Joint Statement establishing a framework for fair, balanced and mutually beneficial transatlantic trade and investment. This Joint Statement confirms and builds on the political agreement reached by President von der Leyen and President Trump on 27 July.
The Joint Statement sets out the commitment on both sides to work towards restoring stability and predictability in EU-US trade and investment, for the benefit of businesses and citizens. It is the first step in a...
21
Aug
General
What are the main aspects of the Joint Statement?
The Joint Statement defines the new parameters for the EU-US trade relationship and brings back an important measure of stability and predictability in transatlantic trade for the benefit of businesses, workers and consumers on both sides.
The key commitments on both sides include:
• Application across the board of a maximum, all-inclusive 15% tariff ceiling for EU products subject to reciprocal tariffs. No additional tariffs will apply for products which are already subject to...
21
Aug
The United States and the European Union are pleased to announce that they have agreed on a Framework on an Agreement on Reciprocal, Fair, and Balanced Trade (“Framework Agreement”). This Framework Agreement represents a concrete demonstration of our commitment to fair, balanced, and mutually beneficial trade and investment. This Framework Agreement will put our trade and investment relationship – one of the largest in the world – on a solid footing and will reinvigorate our economies’ reindustrialization. It reflects...
19
Aug
By Simon Kaye, CEO, Jaguar Freight
In late July, the U.S. and EU reached a provisional trade agreement to avert what could have become a full-blown trade war. A central provision of the agreement was that the U.S. would impose a 15% tariff on most EU exports, which was significantly lower than the previously threatened 30%, but triple the average 4.8 percent that European goods faced before Trump took office in January. In return, the EU pledged significant financial and energy...
18
Aug
Last week, President Trump signed an executive order that extends the suspension of high U.S. tariffs on Chinese goods for another 90 days. Without the extension, tariffs would have returned to the peak levels of 145% on Chinese imports and 125% on U.S. goods that were seen in April. Since May, both sides have maintained reduced rates of 30% for the U.S. and 10% for China. Of course, what this means is uncertainty continues to prevail for now.
U.S. containerized imports surged...
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