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Compliance Tip of the Day: The Role of Supply Chain and Compliance in Tariffs
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Daily Compliance News: April 11, 2025 The Tariff Rollback Edition
Given the rapid, sweeping, and unpredictable changes in the tariff landscape, we return to the force majeure clause, a now-recurring theme following the COVID-19 pandemic and cyberattacks. Although, like many force majeure...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 Trump administration's imposition of tariffs on steel, aluminum, lumber, and other construction materials, in combination with increased tariffs on raw materials and finished goods from China, Japan, the EU, and...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 months, changes to tariff laws have had a significant impact on the construction industry. With looming disruptions to global supply chains and material costs rising, there are a number of commercial and legal...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
Recent changes in U.S. trade policy necessitate a thorough understanding of FAR and DFARS clauses related to cost recovery, duties and taxes....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
Tariffs on imports into the U.S. are on the rise, focusing on many of the U.S.’s largest trading partners like Mexico, Canada and China, as well as major products such as aluminum and steel. Buyers and sellers who are...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 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
Federal government contractors operating in today’s volatile global trade environment are no strangers to sudden and sometimes dramatic shifts in material costs. With tariffs periodically imposed or adjusted by executive...more
The newly announced tariff policy from the United States has upended expectations for the global economy. The US tariffs are poised to potentially reshape global supply chains, impact regulatory compliance, and pressure...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
As global trade policies shift, U.S. government contractors must navigate the evolving landscape of tariffs and their implications. The recent introduction of new tariffs by the federal government has significant consequences...more
As tariffs are imposed and additional tariffs are threatened, companies concerned about the impacts of tariffs on agreements with customers and suppliers should review their contracts and the parameters of the tariff to...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
Commercial contracts tend to be full of “boilerplate provisions” that, to paraphrase Mark Twain’s assessment of classic novels, everyone knows are important, but no one actually reads. When COVID-19 struck, manufacturers...more
As the adage goes, you can’t change the wind, but you can adjust the sails. Manufacturers and other businesses engaged in cross-border transactions should adjust their sails to proactively address the uncertain tariff...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. INCOTERMS are so ubiquitous in international...more
As discussed in our last alert, the possibility of parties turning to force majeure clauses as an excuse for performance in the face of steel and aluminum tariffs has become a reality. While the government deals with numerous...more