On July 23, 2026, the Office of the U.S. Trade Representative (USTR) announced final and immediate new tariffs on imports from 60 economies (59 countries and the European Union), including nearly all of the United States’ largest trading partners. The duties are imposed under Section 301 of the Trade Act of 1974 and are tied to USTR’s assessment of measures these economies have taken to adopt and enforce prohibitions on the importation of goods made…
On Monday, July 20, President Trump signed three Proclamations invoking Section 338 of the Tariff Act of 1930 to impose 50% tariffs on certain Canadian origin goods (Section 338 Tariffs). These tariffs are scheduled to enter into force at 12:01 AM EST on August 19, 2026. The Proclamations cite various actions by Canada that allegedly discriminate against the commerce of the United States in three core areas related to the USMCA/CUSMA: automotive, dairy, and alcohol products.…
On 22 May 2026, the Council of the EU has approved a one‑year suspension of 5.5–6.5% customs duties on certain nitrogen‑based fertilisers, including fertiliser inputs. The measure aims to ease cost pressures on farmers and reduce reliance on Russian and Belarusian imports. The proposal for the suspension can be found here. The measure is intended to reduce cost pressures on EU farmers and the fertiliser industry at a time when fertiliser prices have increased significantly…
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…
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…
On November 13, 2025, the Trump Administration announced four frameworks for bilateral trade agreements designed to strengthen economic ties between the United States and Argentina, Guatemala, Ecuador, and El Salvador. These frameworks represent a step in advancing the administration’s trade agenda, which aims to rebalance US trade relationships and reinforce economic security across the Western Hemisphere. The United States–Argentina framework aims to reaffirm the strategic partnership between the two nations. Under the proposed framework for…
On 14 November 2025, Switzerland, Liechtenstein, and the United States announced a framework to negotiate an Agreement on Fair, Balanced, and Reciprocal Trade (see joint statement here and press release of Swiss government here, see fact sheet here). This development brings long-awaited relief to Swiss market participants after the steep 39% tariffs introduced on 1 August 2025 (Swiss national day) sent shock waves through the Swiss economy. Under the framework, the United States will reduce…
On November 14, 2025, President Donald J. Trump issued an Executive Order modifying the scope of reciprocal tariffs to exempt certain agricultural products. The tariffs were originally imposed in April to address persistent U.S. goods trade deficits, which were deemed a national emergency under the International Emergency Economic Powers Act (IEEPA), the National Emergencies Act, and the Trade Act of 1974. The action follows an earlier order issued in September that had modified the goods…
On November 13, 2025, the United States and South Korea issued a joint factsheet announcing the formalization of a series of trade-related negotiations. The announcement builds upon prior arrangements and reflects ongoing negotiations between the two countries’ leaders, including recent meetings and state visits. The announcement confirms the trade deal announced in July 2025, which set a 15% tariff rate for most South Korean imports, and also represents a comprehensive approach to the critical economic…
On October 26, 2025, the Trump Administration announced a series of trade agreements with Malaysia and Cambodia, as well as framework agreements with Thailand and Vietnam, marking expanded US economic engagement across Southeast Asia. Vietnam: According to a joint statement, Vietnam will open its market to most US exports on a duty-free basis, while the United States maintains a 20% tariff on Vietnamese goods, with some exceptions, to be listed in Annex III to Executive…