On August 21, 2025, the European Union and United States unveiled their Framework on an Agreement on Reciprocal, Fair, and Balanced Trade (“Framework”). The Framework follows, and provides further detail to, the July announcement that the European Union and United States had agreed on broad terms of a trade deal. The Framework outlines the key terms of the trade deal that will be negotiated between the parties, and is a first step in a process…
On August 15, the Department of Commerce’s Bureau of Industry and Security (BIS) issued a draft Federal Register notice adding hundreds of tariff subheadings to the list of steel and aluminum derivative products subject to Section 232 tariffs imposed in June. The newly announced duties apply to the steel and aluminum content of derivative products that are entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. Eastern Time on August…
On August 11, 2025, in a continued effort to recalibrate trade relations with China, President Trump issued a new executive order extending the suspension of certain tariffs on Chinese goods for importation into the United States. China subsequently confirmed in a joint statement that it too would delay new tariff measures against US goods for now. These moves reflect ongoing discussions between the two countries. Earlier this year, the US administration declared a national emergency…
On July 30 and 31, President Trump issued several significant trade measures. The new developments come just days, or in some cases, hours, before the August 1 deadline for the “Liberation Day” reciprocal tariffs to resume. New Reciprocal Tariffs Announced On July 31, President Trump issued an Executive Order entitled “Further Modifying the Reciprocal Tariff Rates.” The Order sets new tariff rates for dozens of countries just hours before the “Liberation Day” reciprocal tariffs were…
On July 15, President Trump turned to social media to announce a new trade agreement between the United States and Indonesia. The agreement, the third trade deal the U.S. administration has announced since the announcement of the “Liberation Day” tariffs, establishes a 19% duty on Indonesian imports to the United States, while U.S. goods will enjoy duty-free access to Indonesian markets including a potential non-tariff barrier elimination. The announcement also discloses that Indonesia has committed…
On July 7, President Trump announced revised tariffs rates for certain trading partners that will take effect on August 1 and extended the postponement of his “Liberation Day” tariffs. The revised tariffs were announced via letters to 14 countries and range from 25% to 40%. These actions come mere days before President Trump’s reciprocal tariffs, which were paused to allow for the negotiation of bilateral trade agreements, were due to resume on July 9 for…
On July 2, 2025, President Trump announced on a social media post that the United States had entered a trade agreement with Vietnam. According to the post, the agreement will provide for the importation of US products into Vietnam free of tariffs. In exchange, Vietnamese imports will be assessed a 20% duty. Additionally, a 40% tariff will apply to transhipments—i.e., goods originating from third countries shipped to the US via Vietnamese ports. Background Vietnam was…
On June 17, the plaintiff-appellees in Learning Resources, Inc., et al v. Donald Trump, et al petitioned the Supreme Court of the United States for certiorari, asking the Court to consider the lawfulness of tariffs President Trump imposed under the putative authority of the International Emergency Economic Powers Act (IEEPA). With the appeal currently pending before the Court of Appeals for the District of Columbia Circuit (D.C. Circuit), the petition takes the uncommon step of…
On June 25th, Baker McKenzie’s Trade, Sanctions, and Customs Practice will be hosting a webinar focused on Tariffs: A Holistic View of Legal & Business Considerations (Trade, Customs, Commercial, Disputes, Employment, M&A, Restructuring and more).In this webinar, our multi-specialist panel will share their insights on tariff mitigation strategies and considerations across the supply chain and provide practical advice to help you navigate these complexities. The webinar will take place at 10:00 EDT / 15:00 BST /…
On June 3, President Trump signed a proclamation increasing tariffs on certain imported steel and aluminum to 50% under Section 232 of the Trade Expansion Act of 1962. The proclamation increases the applicable rate of these duties from 25% and makes additional changes as to the applicable duties for certain products which could be subject to multiple tariff schemes. A summary of the effects of this June 3 proclamation are outlined in this update. Key…