In a move that could significantly reshape transatlantic commerce, President Donald Trump signed Executive Order 14309 on June 16, 2025, enacting key provisions of the UK-US Economic Prosperity Deal. This agreement, unveiled at the G7 summit in Canada, aims to ease trade tensions and foster deeper economic cooperation between the United Kingdom and the United States. The order was published that same day in the Federal Register and its provisions went into effect on June…
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…
In early May 2025, President Donald Trump proposed a new tariff policy targeting foreign-made films. In a post on his social media platform, President Trump announced plans to impose a 100% tariff on all movies produced outside the United States and imported for American audiences. The move, he said, is necessary to protect American jobs and the domestic film industry, which he said is being undercut by foreign governments offering generous production incentives to lure…
On 15 May 2025, the Court of Justice of the European Union (“CJEU”) has delivered a judgment in the ‘Tauritus’ case, offering crucial guidance on how to determine the customs value of imported products when their final price is not fixed at the time of importation but is subject to a provisional pricing arrangement. The ruling provides important considerations and clarification for businesses engaged in transactions with such pricing mechanisms. The judgement can be found via…
On April 17, 2025, the United States Trade Representative (USTR) issued a final notice of action in its investigation under Section 301 of the Trade Act of 1974 of China’s maritime, logistics, and shipbuilding sectors for abusive and discriminatory practices associated with their sector dominance. In addition to introducing new fees and restrictions on Chinese-built, -owned, and -operated vessels, the notice of action also introduces new requirements on liquified natural gas (LNG) tankers and proposes…
On 24 April 2025, HM Revenue & Customs (HMRC) and HM Treasury published draft primary legislation and an associated technical consultation on the introduction of a UK carbon border adjustment mechanism (CBAM). The draft CBAM legislation follows a prior public consultation on the UK Government’s initial proposals for a CBAM which concluded in June 2024. CBAM forms part of the UK government’s wider strategy to tackle carbon leakage. To achieve this it will impose a carbon price…
On 6 May 2025, the United Kingdom (UK) and Indian Governments agreed a new ‘landmark’ free trade agreement (“FTA”) to increase long-term bilateral trade by £25.5 billion each year and drive economic growth in both countries. The UK Government believes the FTA will result in a £4.8 billion increase in UK GDP and a £2.2 billion increase in UK long-term year-on-year wages. The legal text of the agreement and regulatory details must first be finalised,…
The United Kingdom (UK) and the United States (US) have concluded a trade deal covering a range of products and promoting market access for goods. In response to the recent additional tariffs adopted by the US administration, both countries agreed to the following: Additionally, the UK-US trade deal includes: The US administration has also announced that this trade deal includes streamlined customs procedures for US exports, the creation of a secure supply chain for pharmaceutical…
The European Commission has unveiled a proposed response to the US tariffs on cars and automotive parts, as well as the so-called reciprocal tariffs. These countermeasures from the European Union (EU) will be adopted if the ongoing negotiations with the US administration fail. As mentioned in our last blog, the EU decided to pause for 90 days, until 14 July, the implementation of EU countermeasures on a list of US-origin products that could potentially be…