On July 9, 2025, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced a new round of sanctions targeting 22 companies based in Hong Kong, the United Arab Emirates, and Turkey. Among them, 18 companies are based in Hong Kong and have been designated for allegedly facilitating the sale of Iranian oil in violation of U.S. […]
On July 7, 2025, President Trump issued an Executive Order titled “Extending the Modification of the Reciprocal Tariff Rates”, and U.S. Customs and Border Protection (CBP) has now released guidance on its implementation. This action formally extends the temporary pause on heightened, country-specific tariff rates until August 1, 2025, with one major exception: China (including Hong Kong and Macau). What […]
Overnight on July 6, 2025, President Trump issued a statement threatening additional tariffs on imports from countries that align themselves with the BRICS bloc. This statement comes just as BRICS countries have begun their annual summit in Brazil. BRICS, originally formed by Brazil, Russia, India, China, and South Africa, has in recent years expanded both its membership and its coordination […]
On July 2, 2025, President Trump announced that the United States has entered into a new trade agreement with the Socialist Republic of Vietnam. This agreement introduces significant reductions in the country-specific rate for Vietnamese goods imported into the United States while providing duty free access for U.S. exports into the Vietnamese market. According to the President’s statement, this deal […]
All eyes are on the United States and its trading partners as the deadline to make a deal approaches. The Reciprocal Tariffs, reduced to just 10% for most countries for 90 days, are set to return to full force unless trading partners strike a deal with the United States. This change could see rates as high as 50% on goods […]
On June 16, 2025 the Unite States Department of Commerce published a notice in the Federal Register applying Section 232 tariffs on steel to 8 common household appliances. A duty rate of up to 50% will now apply to the steel content of these articles. Here is the latest information from U.S. Customs and Border Protection. BACKGROUND On February 10, […]
On May 28, 2025 a three-judge panel at the U.S. Court of International Trade (“CIT”) issued a finaljudgement vacating and permanently enjoining the Fentanyl Tariffs, as well as the Reciprocal Tariffs. Thisorder has tremendous implications for international trade: worldwide tariffs will be eliminated, andscheduled raises in the Reciprocal Tariff will be canceled. Caution is advised, however, because this decision is […]
At a time where many countries are mitigating the Reciprocal Tariff by negotiating with the United States, the EU may have its tariff rate raised by 50%. While there has been no official order from the White House, President Trump stated that this increased rate could begin in the next two weeks. BACKGROUND On Wednesday, April 2, 2025, President Trump […]
This weekend, delegates from the United States and China met in Geneva to discuss trade relations between the two countries. After reaching an agreement, the countries published a joint statement that foreshadowed future reductions of tariffs on both sides. On the U.S. side, the reciprocal tariff rate on Chinese goods was set to drop significantly. Since the issuance of the […]
Under a shady tree on Lake Geneva, delegates from the United States and China reached a trade deal that will see the relaxing of reciprocal tariffs on both sides. The deal was concluded this weekend during planned negotiations between the U.S. and China in Switzerland. Treasury Secretary Scott Bessent and Trade Representative Jamison Greer represented the U.S. in the talks. […]