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The evolving U.S. tariff regime under President Donald Trump has had and likely will continue to have profoundly impacts on commercial contracts. Commercial actors are evaluating their contractual commitments to determine the...more
The INCOTERMS published by the International Chamber of Commerce (ICC) have long served the international community by offering a “shorthand” for communicating key shipping terms. The ICC most recently issued the 2020 version...more
In recent weeks, the Trump Administration has imposed sweeping tariffs on U.S. trading partners, based on the country from which the goods are exported and the type of goods imported. For parties to commercial contracts for...more
Upstream oil and gas producers and oilfield service companies are facing new uncertainties from recently imposed federal tariffs. In early 2025, the US expanded tariffs on a broad range of imports, suddenly increasing costs...more
On April 15, 2025, President Trump issued a sweeping executive order (EO), “Restoring Common Sense to Federal Procurement.” As reflected in its accompanying Fact Sheet, the EO promises to rewrite the Federal Acquisition...more
Assessing Tariff Impacts in Commercial Contracts - With the size and scope of President Trump’s tariffs continuing to shift, this is a critical time for businesses to assess their contracts and determine how increased...more
Recent shifts in international tariff policies have created significant uncertainty for US importers. As a buyer, revisiting your supply contracts now can help safeguard your business from unexpected costs and disruptions. ...more
The second Trump administration started with a bang. There has been an almost weekly focus on implementing and expanding tariffs on a variety of goods imported into the United States. These tariffs are aimed at protecting...more
As the Trump Administration’s tariffs are now in effect, owners, developers, and contractors managing pending construction projects face questions about who is ultimately responsible for impacts (both time and cost) resulting...more
Following the previous imposition of significant tariffs on imports from Canada and Mexico, President Donald J. Trump announced on April 2, 2025 additional tariffs of varying amounts covering virtually all goods imported into...more
In the context of the tariffs imposed by the Trump Administration on imported goods, a prevalent misconception has arisen that foreign suppliers automatically bear the cost of these tariffs. The reality, however, is more...more
We are starting to hear reports of businesses declaring the Trump Administration's Executive Order on tariffs to be a force majeure event under their contracts. Most of us now have rather more experience than we'd like to of...more
A wave of executive orders from the Trump administration is rapidly reshaping the landscape for federal contractors, with sweeping changes to U.S. foreign aid, diversity initiatives, and gender policy....more
During the first Trump administration and the pandemic, contractors frequently demanded contract terms allowing price adjustments if the cost of materials increased due to tariffs or pandemic-era supply chain disruptions....more
The Fifth Circuit ruled that Baker Hughes Saudi Arabia and Dynamic Industries, Inc., could be compelled to arbitration in a forum that no longer exists. In doing so, the court ruled that the parties’ “dominant purpose was to...more