To kick off its 2026 Global Trade and Customs Webinar Series Baker McKenzie’s global customs team led a discussion on the the impact of the US Supreme Court’s recent IEEPA ruling and how the decision reshapes the global trade landscape. Below are the key takeaways from our recent discussion on the ruling. You can view the webinar recording and register for upcoming installments in the series here. 1. IEEPA-based tariffs declared illegal The US Supreme…
In a widely anticipated decision, on February 20, 2026, the US Supreme Court ruled in Learning Resources, Inc. v. Trump that the International Emergency Economic Powers Act (“IEEPA”) does not authorize the President to impose tariffs. This decision invalidates substantial tariffs that President Trump imposed under the IEEPA in the first year of his second term, resetting the trade landscape. Following the Supreme Court’s announcement, the Trump Administration issued an executive order terminating the IEEPA tariffs,…
On February 6, 2026, the United States and India announced a framework for an Interim Agreement on reciprocal and mutually beneficial trade, marking a step toward a broader bilateral trade agreement (BTA). The announcement comes on the heels of a social media post earlier in the week in which U.S. President Trump reported the trade agreement following a discussion with India Prime Minister Modi. The White House has released a joint statement and fact sheet…
On February 5, 2026, the United States and Argentina announced that they have concluded a comprehensive Agreement on Reciprocal Trade and Investment (the “Agreement”), which is intended to deepen bilateral economic ties, modernize regulatory structures, and strengthen cooperation in areas connected to economic and national security. The Agreement formalizes the existing U.S.–Argentina Trade and Investment Framework Agreement and addresses various facets of the US-Argentina trade relationship including tariff measures, non‑tariff barriers, intellectual property protection, digital…
In a development that follows the uncertainty outlined in our earlier blog post on South Africa’s evolving trade strategy and the future of the African Growth and Opportunity Act (AGOA), the U.S. Congress has now formally extended AGOA for a period of at least one year. AGOA, a central pillar of U.S.–Africa trade relations since 2000, has been retroactively extended from 30 September 2025 to 31 December 2026. The renewal follows extensive negotiations within the U.S. Congress and…
On January 29, 2026, President Trump signed Executive Order 14380, “Addressing Threats To the United States by the Government of Cuba” (the “Executive Order”), in which he declared a national emergency with respect to Cuba and authorized the United States to impose new tariffs on imports from countries that directly or indirectly supply oil to the Government of Cuba. The Executive Order is accompanied by a White House Fact Sheet outlining the administration’s national security…
This blog series provides Baker McKenzie’s insights and strategic advice on the 2026 USMCA review, including how businesses should prepare for changes to this trilateral agreement. Baker McKenzie’s North American customs team includes trade professionals, attorneys and economists in Canada, the US and Mexico. We have a reputation for delivering strategic and practical advice to optimize supply chains under the USMCA, foster compliance, and address commercial concerns arising from Chapter 31 disputes. President Trump…
This blog series provides Baker McKenzie’s insights and strategic advice on the 2026 USMCA review, including how businesses should prepare for changes to this trilateral agreement. Baker McKenzie’s North American customs team includes trade professionals, attorneys and economists in Canada, the US and Mexico. We have a reputation for delivering strategic and practical advice to optimize supply chains under the USMCA, foster compliance, and address commercial concerns arising from Chapter 31 disputes. A trilateral…
On January 14, 2026, President Trump issued two proclamations under Section 232 of the Trade Expansion Act of 1962 (19 U.S.C. § 1862), relating to imports of semiconductors and critical minerals (the “Semiconductor Proclamation” and “Critical Minerals Proclamation”, respectively). These proclamations—especially the Semiconductor Proclamation, which imposes an immediate 25% tariff on imports of certain semiconductors—will likely have significant impacts on U.S. trade in these sectors. Semiconductor Proclamation The Semiconductor Proclamation was issued based on the…
Background Tensions between the United States and the European Union have intensified after President Trump announced, in a January 17, 2026, social media post that the United States will impose tariffs of 10% from February 1 and 25% from June 1 on Denmark, Finland, France, Germany, the Netherlands, Norway, Sweden, and the United Kingdom, unless a deal is reached for the “complete and total purchase of Greenland.” Tariffs Threatened by the United States The threatened…