Update: On November 7, 2025, the Office of the U.S. Trade Representative issued a notice rescheduling the public hearing on the operation of the Agreement between the United States of America, the United Mexican States, and Canada (USMCA). Originally scheduled for November 17, the hearing will now take place from December 3 to 5
USTR Seeks Comment on Possible Extension of Remaining China Section 301 Product Exclusions
On September 16, 2025, the Office of the U.S. Trade Representative (USTR) issued a notice and request for public comments on the possible extension of the remaining 178 product exclusions in the Section 301 investigation of China’s acts, policies, and practices related to technology transfer, intellectual property, and innovation. The USTR has extended these exclusions
Annual Blocked Property Reports Due to OFAC by September 30
All persons subject to U.S. jurisdiction holding property blocked pursuant to various Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctions programs must file their Annual Report of Blocked Property (ARBP) by September 30, 2025. This does applies to all relevant persons, not only financial institutions.
This report is pursuant to 31 C.F.R.
Trump Administration Announces Changes to Japan Tariffs
On September 16, 2025, the Department of Commerce’s International Trade Administration (ITA) released a Federal Register notice announcing changes to the Harmonized Tariff Schedule of the United States (HTSUS) as to general tariffs on imports of Japanese goods in order to implement the United States-Japan Agreement (see Executive Order 14345). Under the original framework
U.S. Supreme Court to Review the Legality of Trump Administration’s IEEPA-Based Tariffs
On September 9, 2025, the U.S. Supreme Court agreed to review a consolidation of two cases challenging the legality of tariffs imposed by President Donald Trump under the International Emergency Economic Powers Act (IEEPA). It has scheduled oral arguments for the first week of November, an unusually swift timeline for the Court.
The first case
DOJ and DHS Launch Joint Trade Fraud Task Force: What Multinational Companies Need to Know
On August 29, 2025, the U.S. Department of Justice (DOJ) announced a new Trade Fraud Task Force, an interagency initiative aimed at “robust enforcement” against importers and other parties who defraud the United States by evading tariffs or importing prohibited goods. The task force will coordinate closely with DHS agencies, including U.S. Customs and Border
Department of Commerce Relaxes Export Controls for Syria
On September 2, 2025, the Department of Commerce’s Bureau of Industry and Security (BIS) published a Final Rule in the Federal Register easing licensing requirements for civilian exports to Syria. The rule implements the policy on Syria established in Executive Order 14312, “Providing for the Revocation of Syria Sanctions” (June 30, 2025) that called for
Federal Circuit Rules that Trafficking and Reciprocal Tariffs Violate IEEPA
On August 29, 2025, the U.S. Court of Appeals for the Federal Circuit (“the Court” or “Federal Circuit”) in a 7-4 ruling determined that President Donald Trump exceeded his authority by imposing certain tariffs under the International Emergency Economic Powers Act (IEEPA). The Court also affirmed the grant of declaratory relief of the U.S. Court
USTR Continues Extension of Limited Product Exclusions for China Section 301 Tariffs
On August 28, 2025, the Office of the U.S. Trade Representative (USTR) announced the extension of remaining product exclusions in the Section 301 Investigation of China’s Acts, Policies, and Practices Related to Technology Transfer, Intellectual Property, and Innovation. Based on continued consideration of the comments received in response to the December 29, 2023 Federal Register
Treasury Releases Annual CFIUS Report
On August 7, 2025, the Treasury Department, as the lead agency of the Committee on Foreign Investment in the United States (CFIUS), released a public version of its 2024 Annual Report to Congress regarding foreign direct investment in the United States. The report highlights key indicators of the CFIUS process and provides statistics on transactions that