Following the 90-day pause by President Trump on the individualized reciprocal tariffs (see our blog post here), the European Union (EU) followed suit and introduced a 90-day postponement of its retaliatory tariffs aimed at the US. This decision was made to allow both parties to engage in further negotiations and potentially reach a more amicable trade agreement. European Commission President Ursula von der Leyen welcomed President Trump’s decision, stating that the pause would help stabilize…
Yesterday, President Trump announced a 90-day postponement of the individualized reciprocal tariffs for most countries (see our blog post on these tariffs here), with the notable exception of China. This decision comes amidst ongoing global trade tensions and aims to provide temporary relief to international trade partners. However, the baseline tariff of 10% for most countries worldwide, which took effect on April 5, 2025, remains in place without a specified end date. China had previously indicated…
Introduction Yesterday Commissioner Maroš Šefčovič at the Foreign Affairs Council (Trade) held a press conference following the recent developments following Trump’s “Liberation Day” Tariffs Announcement (see our blog post on that topic here). Commissioner Šefčovič addressed the current trade landscape between the European Union (EU) and the United States (US), highlighting both the challenges and opportunities for strategic collaboration. The Impact of Tariffs on EU Exports Approximately €380 billion worth of EU exports to the US,…
In brief Following the US administration’s extensive new import tariffs, many companies are grappling with increased costs and supply chain uncertainty. What happens when a deal becomes financially unsustainable due to government-imposed trade restrictions? Companies should consider the force majeure and change management clauses in their contracts, and the doctrines of impossibility, impracticability and frustration of purpose under applicable statutes and the common law, to assess whether they are entitled to relief. This article examines these…
In the latest of a series of recent tariff developments, the White House has announced a temporary indefinite suspension of tariffs on certain goods from Canada and Mexico which comply with the United States-Mexico-Canada Agreement (USMCA) origin requirement, effective from 7 March 2025. The tariffs, initially imposed on 4 March 2025, included a 25% duty on Canadian and Mexican goods, with a reduced 10% rate for Canadian energy products. While several White House officials have…
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…
President Donald Trump confirmed on March 3, 2025, that the long-anticipated tariffs called for on Canada and Mexico would take effect, alongside additional tariffs against Chinese imports. The 25% tariffs against Canada and Mexico came into force on March 4, 2025, after a 30-day suspension of the measures, which had been paused pending negotiations between the countries. An additional 10% tariff has been imposed against Chinese imports, which will be applied on top of the…
President Trump signed an executive order on February 1, 2025 (“Executive Order”), imposing long‑anticipated tariffs on Canada, Mexico, and China under the International Emergency Economic Powers Act (“US Tariffs”). Canada retaliated swiftly by implementing retaliatory tariffs; however, both sets of tariffs were paused for 30-days while the US and Canada negotiated whether the tariffs would come into force. Despite Canada undertaking extensive measures to secure its border, the US implemented the US Tariffs at 12:01 AM EST on March…
President Trump issued a memorandum directing the US Trade Representative (“USTR”) and Secretary of Commerce to investigate alleged harm from non-reciprocal trade measures by trade partners and to issue recommendations based on their investigation. The memorandum argues that a range of tariff and non-tariff measures maintained by various countries have contributed to unfair and unbalanced trade and harmed the United States. Non-tariff measures specifically identified in the memorandum as being unfair and harmful to the United States include: The memorandum directs…
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,…