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On August 27, Canada announced that, effective September 1, 2025, U.S. goods certified as CUSMA (USMCA) qualifying will be exempt from the country’s 25% retaliatory tariffs. This decision follows a similar exemption...more
The implementation of the reciprocal tariffs continues to have an impact on U.S. consumers. The "de minimis" exemption, which allows packages worth less than $800 to come into the U.S. duty-free, is ending tomorrow, August...more
In today’s global trade environment, tariffs have become a company-wide concern—impacting legal, compliance, finance, and operations alike. This article introduces how the COSO Internal Control Framework can serve as a...more
The U.S. has put 35% tariffs on Canadian products entering the US market, including Canadian lumber. It does beg the question, how much wood could a wood chuck chuck, if a wood chuck could chuck wood....more
More than four months after the initial introduction of the “Liberation Day” tariffs in early April 2025, which lasted only a day before being rolled back in favor of a 10 percent baseline tariff, the reciprocal tariffs...more
President Trump signed the Executive Order on July 31 imposing the country-specific reciprocal tariff rates. Those rates will take effect on August 7, 2025 for most imports. The Executive Order maintains a baseline 10% tariff...more
After weeks of anticipation and a flurry of news from Washington, DC, the White House has issued a long-awaited executive order (EO) that resets the landscape for US reciprocal tariffs and related trade measures....more
On May 31, 2025, the Office of the United States Trade Representative (USTR) issued a Federal Register notice extending specific product exclusions from Section 301 tariffs on Chinese imports. This extension affects 164...more
The United States and the Republic of China announced a significant step toward easing longstanding trade tensions, with both nations agreeing to lower a series of tariffs imposed during the ongoing trade dispute. The...more
On May 12, the United States and the People’s Republic of China announced a temporary 90-day agreement to roll back some of the reciprocal tariffs increases imposed in April. The agreement decreases the China reciprocal...more
The White House announced new tariffs on imports of automobiles and auto parts under Section 232. The new Presidential Proclamation and Fact Sheet issued on March 26, 2025, establishes a structure for rolling out this action...more
The 25 percent tariff increase the United States imposed on imports of iron and steel, aluminum products and their derivatives from all countries is effective March 12, 2025, according to the Cargo Systems Messaging Service...more
Mexico & Canada: Yesterday, the President imposed a new set of tariffs under the International Emergency Economic Powers Act (IEEPA) on Canadian and Mexican goods. The duties, which went into effect at midnight, are levied at...more
On February 1, 2025, President Trump issued three executive orders directing the United States to impose new tariffs on imports from Canada, Mexico, and China, to take effect on February 4, 2025. The tariffs are an...more
Welcome to the January 2025 issue of “As the (Customs and Trade) World Turns,” our monthly newsletter where we compile essential updates from the customs and trade world over the past month. We bring you the most recent and...more
This advisory alert is part of an ongoing series from Venable regarding noteworthy developments in trade laws expected in 2025. An introductory preview article is available here, and an alert about tariffs and trade policies...more
Welcome to the December 2024 issue of “As the (Customs and Trade) World Turns,” our monthly newsletter where we compile essential updates from the customs and trade world over the past month. We bring you the most recent and...more
On November 25, 2024, President-elect Trump announced that he would impose an additional 10% tariff on China, and 25% tariffs on Mexico and Canada, garnering considerable attention both for their potential to reshape the U.S....more
On October 15, 2024, the Office of the U.S. Trade Representative (USTR) began collecting requests for exclusions from Section 301 tariffs for Chinese-made machinery imported for use in domestic manufacturing. As noted in our...more
The U.S. Commerce Department is soliciting comments on a proposed rule to prohibit importing and selling Vehicle Connectivity System hardware and software designed, developed, manufactured, or supplied by persons owned by,...more
Welcome to the September 2024 issue of “As the (Customs and Trade) World Turns,” our monthly newsletter where we compile essential updates from the customs and trade world over the past month. We bring you the most recent and...more
On May 10, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued an Interim Final Rule (IFR), effective August 8, 2024, that updates the Reporting, Procedures, and Penalties Regulations....more
The United States Trade Representative (USTR) recently released a list of Section 301 exclusions that would be extended through May 31, 2025.[1] Within the Notice, the USTR explained that extending these exclusions will...more
On May 24, 2024, the U.S. Trade Representative (“USTR”) announced that 249 products that were eligible for exclusions from 2018 will no longer be eligible for these exclusions, effective June 14, 2024. The original...more
The Biden administration announced that it will increase tariffs in key product areas, largely focusing on electric vehicles, batteries, solar cells, and supporting industries. This increase in tariffs results from the U.S....more