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In 2025, the second Trump administration has made sweeping use of tariffs. Tariffs have been imposed and suspended several times, in varying amounts, against a multitude of countries on all types of goods used in the...more
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 “reciprocal” tariffs announced on April 2nd, 2025, by the Trump administration to address what Trump declared a "large and persistent U.S. trade deficit," were one of the largest shocks to the international trade industry...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
President Donald Trump has announced new 25% tariffs on steel and aluminum imports into the United States. This measure is part of the administration’s strategy to protect national security and address trade imbalances. ...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
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
On April 2, 2025, the Trump administration announced a series of reciprocal tariffs, significantly impacting various global industries. These measures included a 25% tariff on auto imports, an additional 10% tariff on Chinese...more
The United States is actively using tariffs to achieve its economic and political goals. Whether or not you agree with this policy approach, as a participant in the global economy you had better pay careful attention to the...more
The first quarter of 2025 has reshaped the U.S. trade landscape with a flurry of executive actions by the Trump administration, introducing a new wave of tariffs on imports from almost all U.S. trading partners. The Trump...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
Since February, the Trump administration has announced and issued several sets of tariffs. As of last week, putting aside further reciprocal or retaliatory tariffs, it appears all expected tariffs have now been announced....more
The tariffs enacted and proposed by the Trump administration have created a cause for concern among industries worldwide, and the construction sector is no exception. Imported goods are often essential to a construction...more
On Wednesday, April 2, the Trump administration announced its “Liberation Day” tariff policy. The policy imposes tariffs that are effective immediately and that are expected to last indefinitely. Leaving aside the politics...more
We have reported extensively on President Trump's "America First Trade Policy", the new tariffs imposed on Canada, Mexico and China, and provided commentary on how President Trump's return to office might affect the UK and...more
On February 10, 2025, President Donald Trump announced his intention to impose 25% tariffs on imports of all steel and aluminum, two materials found in nearly every construction project. These tariffs are set to take effect...more
Parties confronted by the prospect of new tariffs will need to assess their impact on existing contractual obligations. U.S. law imposes the initial payment of the tariff on the importer of record who brings the good into...more
President-elect Donald Trump has threatened to impose sweeping tariffs on imported goods immediately upon taking office on January 20, 2025. Those tariffs could have an immediate impact on the U.S. supply chain for goods, as...more
As the second Trump administration begins next week, developers, contractors, subcontractors and suppliers are evaluating the extent of the construction industry’s international ties – and contractual exposure to potential...more