There is never a dull moment in the ongoing trade war. With effect of 12 March 2025, the US reinstated the June 2018 Section 232 tariffs on steel and aluminum products at a rate of 25% and extended these tariffs to a larger scope of steel and aluminum products (see our prior blog post on the US Section 232 tariffs here). On 12 March 2025, the EU announced countermeasures which shall protect European businesses and…
Implications of and potential mitigation strategies for U.S. and Global Tariff Changes from tax and transfer pricing perspectives Overview of Tax/Transfer Pricing Challenges The recently proposed increases in US tariffs on imports from Canada, Mexico (albeit currently paused) China and the EU, among others, introduced by the Trump administration, and the anticipated response from those jurisdictions impacted by the proposed US tariffs will have several transfer pricing implications which multinational enterprises (MNEs) should consider. These…
Baker McKenzie’s Global Customs Practice invites you to join us for a follow up webinar on “Trump and Tariffs: Section 232 Tariff Announcement, Reciprocal & Retaliatory Tariffs and More”This one-hour webinar will take place Thursday, 20 February 2025 at 10:00 CST / 11:00 EST / 17:00 CET.On February 10th President Trump announced that 25% tariffs will be imposed on all steel and aluminum products imported into the US from all countries, including Canada, Mexico, the EU and UK,…
As reported in our earlier blog here, on Monday 10 February 2025, President Trump announced that 25% tariffs will be imposed on all steel and aluminum products imported into the United States (“US”), including from the EU and the UK which were previously subject to exclusions. These tariffs are due to come into effect on 12 March 2025. The key question now is how other jurisdictions such as the EU and the UK will retaliate. …
On 23 September 2024, the European Commission published the proposal to amend the EU Combined Nomenclature (“CN”). We set our below key updates in this proposal: The declaration of goods upon import, export, or when subject to intra-Community trade statistics between EU Member States is based on the CN. This sets the customs duty rate that is applicable as well as determines how the products are handled for statistical purposes. Therefore, the CN is an…
Considering the major (positive) impact the reform of the Dutch Customs Penalty Regime will have on the activities of operators active in the Netherlands, we wanted, as the date of implementation is nearing, draw your attention on the latter. As of 1 July 2024, the new Dutch customs legislation regarding customs penalties will apply. Under the reformed legislation, operators that unintentionally submit an incorrect or incomplete customs declaration or provide incorrect or incomplete information to…
On 12 June 2024, the European Commission proposed provisional countervailing duties for imports into the European Union (“EU”) of new battery electric vehicles designed for the transport of persons (“EVs”) originating from the People’s Republic of China. The pre-disclosure of the European Commission’s proposal is published here. This pre-disclosure follows from the anti-subsidy investigation concerning EVs from the People’s Republic of China. Find our previous blogpost on that investigation here. The products in the scope…
For the third week, we continued our Annual Compliance Conference with key customs developments impacting on businesses today. Specifically, we discussed the reform of the Union Customs Code in the EU, key trending customs developments in EMEA, and different methods of driving significant financial savings in global supply chains. EU customs reform: biggest overhaul since 1968 Tuesday 14 May SPEAKERS: Nicole Looks (Partner, Amsterdam), Thomas Kukanza (Senior Trade Advisor, Brussels), Sylvain Guelton (Senior Associate, Brussels),…
During the 13th Ministerial Conference, held in Abu Dhabi, the World Trade Organization (“WTO”) has extended a moratorium on digital trade tariffs for a further two years, at which point the moratorium will expire. The Moratorium: A Brief Overview The moratorium on e-commerce tariffs, officially called the moratorium on customs duties on digital transmissions, has been in place since 1998. It was initially introduced as a temporary measure but has been extended at each subsequent…
On 1 March 2024, the European Commission introduced the Proof of Union Status (“PoUS”) system. What is the PoUS system? The PoUS system establishes electronic proofs in the form of T2L and T2LF data to prove European Union status. This is intended to replace the paper procedure of T2L/T2LF and shipping companies’ manifests that have been used. Following the introduction of the PoUS system, paper documents of the T2I(F) will no longer be used. The…