- The United States will (i) modify the application of the additional ad valorem rate of duty on
Department of Commerce Initiates Section 232 Investigation of Imports of Commercial Aircraft and Jet Engines
On May 1, 2025, the Department of Commerce (Commerce) announced that, pursuant to Section 232 of the Trade Expansion Act of 1962, it was initiating an investigation to determine the effects on the national security of imports of commercial aircraft, jet engines, and parts for commercial aircraft and jet engines. Interested parties may submit written
President Trump Announces General Terms to a Forthcoming Trade Deal with the United Kingdom, Keeping 10% Baseline Tariffs But Dropping Tariffs on British Autos, Steel, and Aluminum
On May 8, 2025, the White House published general terms for a future trade deal “to enhance [the] economic partnership” between the United States and the United Kingdom. The general terms, which names the forthcoming agreement as the U.S.-UK Economic Prosperity Deal, “do[] not constitute a legally binding agreement” but rather memorialize a set of
Treasury Announces Intent to Launch a CFIUS Fast Track Pilot Program to Streamline Review
On May 8, 2025, the U.S. Department of the Treasury announced its intent to launch a Fast Track Pilot Program to encourage greater investment in U.S. businesses from allied and partner countries. This initiative will introduce a Known Investor portal, allowing the Committee on Foreign Investment in the United States (CFIUS) to collect information from
Department of Commerce Initiates Section 232 Investigation of Imports of Medium- and Heavy-Duty Trucks and Related Parts
On April 22, 2025, the Department of Commerce (Commerce) announced that, pursuant to Section 232 of the Trade Expansion Act of 1962, it was initiating an investigation to determine the effects on the national security of imports of medium-duty trucks, heavy-duty trucks, medium- and heavy-duty truck parts, and their derivative products.
President Trump Directs Commerce to Initiate Section 232 Investigation of Critical Mineral Imports
On April 15, 2025, President Donald Trump issued an Executive Order (EO) directing the Department of Commerce (Commerce) to initiate an investigation under Section 232 of the Trade Expansion Act of 1962 to determine the effects on national security of imports of processed critical minerals and their derivative products. Because “processed critical minerals and their
Commerce Initiates Section 232 National Security Investigation of Imports of Pharmaceuticals & Pharmaceutical Ingredients
On April 1, 2025, it was announced that the Department of Commerce had initiated an investigation under Section 232 of the Trade Expansion Act of 1962 to determine the effects on the national security of pharmaceuticals and pharmaceutical ingredients and their derivative products. This includes both finished generic and non-generic drug products, medical countermeasures, critical
White House Releases List of Products Not Subject to Reciprocal Tariffs
On April 11, 2025, President Donald Trump issued a Presidential Memorandum providing clarification of allowable exceptions under Executive Order 14257 of April 2, 2025 (i.e., implementation of reciprocal tariffs). The memorandum clarifies that one excepted product is the importation into the United States of “semiconductors.” The memo proceeds to define this term as including products
President Trump Pauses Country-Specific Reciprocal Tariffs for 90 Days but Increases Tariffs on China
On April 9, 2025, President Donald Trump issued an Executive Order (EO) announcing that he was pausing the country-specific reciprocal tariffs and, instead, leaving in place for 90 days the baseline 10% tariffs on all countries that was implemented on April 5, 2025. The President, however, noted that this pause would not apply to imports
President Trump Increases Reciprocal Tariff and De Minimis Rates on China Due to Retaliation
On April 8, 2025, President Donald Trump issued a new Executive Order (EO) to address China’s retaliatory 34 percent tariff it is scheduled to impose on all goods imported into China originating from the United States beginning on April 10, 2025. The President has stated that effective with respect to goods entered for consumption, or