Recently, US elected President Trump threatened that when he takes office one of his first orders will be a 25% import duty on all goods coming from MX into the US. The intention is to put pressure on Mexico to stop the flow of illegal drugs and immigrants.
On October 23, 2024, the Directorate of Defense Trade Controls published proposed changes to the International Traffic in Arms Regulations (ITAR) affecting exports of spacecraft and launch vehicles and related activities. Subsequently the department extended the comment period from Nov. 22 to Dec. 23, 2024. The Bureau of Industry & Security (BIS) of the Department of Commerce published corresponding proposed changes to the Export Administration Regulations on Oct. 23, 2024.
This article examines the constitutional authorities and various statutes that reserve tariff authorities for Congress and some legal authorities in which Congress has delegated tariff authorities to the President. The U.S. is a party to numerous multilateral and regional trade agreements that have binding tariff commitments that will be impacted as well.
Historically, trade agreements have focused on reducing barriers to trade—such as tariffs and quotas—while encouraging economic integration and growth. Environmental protection was often considered a separate issue, addressed primarily through national regulations or multilateral environmental agreements like the Paris Agreement. However, recent developments suggest that trade and environmental concerns are converging, with many new trade agreements incorporating specific environmental provisions.
President-elect Trump has repeatedly stated that he will increase tariffs. While it is unclear to what extent, while campaigning he proposed a 10% to 20% tariff on all imports and an additional 60% or more on goods from China.
One of the most anticipated decisions of the Supreme Court’s recent term was Loper Bright Enterprises v. Raimondo. While the specific underlying dispute in Loper Bright isn’t relevant to the trade community—did fishermen have to pay for government-mandated observers on their vessels?—the Court used this case to overturn the broadly applicable judicial deference test established in 1984 in Chevron U.S.A. Inc., v. Natural Resources Defense Council.
By: Judy Davis, Senior Trade Advisor, Braumiller Consulting Group In the global trade universe, where time holds huge importance, weak security practices in your international
Several tribunals and courts were established at various periods of America’s history to resolve trade-related litigation, both at the trial and appellate levels, and even the Supreme Court has played a significant role in these disputes. The jurisdiction and structure of these courts evolved as the complexities and volume of trade disputes grew.
On September 15th, 2024, the Mexican Congress published on the Diario Oficial de la Federacion (Mexican Official Gazette) a decree to amend, add, and abolish several provisions of the Mexican Constitution regarding the Judicial Power. This reform, as it is being called, is one of the major changes to the Mexican Judicial System and has been met with heated debates by opponents who fear it will put the balance and separation of power at risk as it will result in a weakened and deteriorated judicial system overpassed by the legislative and executive powers.
This is the second of a three-part series about the USMCA joint review process, focusing on China, Mexico, and competing visions of a “worker-centered” trade policy. Part one introduces the USMCA joint review process and explores how US trade policy would likely operate during Trump’s second term. Part two outlines some of the major trade issues that will be on the table during joint review, focusing on the Mexico-US relationship, and anticipates Harris’s likely approach to trade policy.
On March 7, 2025, the White House hosted a Digital Assets Summit to celebrate the creation of a Bitcoin Strategic Reserve and a Digital Assets Stockpile by an Executive Order titled, “Establishment of the Strategic Bitcoin Reserve and United States Digital Asset Stockpile“. The Executive Order recognizes that “The Bitcoin protocol permanently caps the total supply of bitcoin (BTC) at 21 million coins, which is critical to its value proposition as a scarce asset.
The various tariffs that President Trump has imposed since retaking office are based on delegated authority found in several existing statutes. But a century ago, tariffs were primarily the purview of Congress. One of the most controversial manifestations of U.S. tariff legislation (and of American legislation in general) was the Smoot–Hawley Tariff Act of 1930, signed into law by President Hoover shortly after the United States—and the world—fell into the black hole of the Great Depression.
Several fundamental conditions are widely presumed necessary for a country to enjoy the benefits of global trade. One condition is that import activity ought not exceed export activity. Put more simply, we must sell more than we buy. On its face this seem reasonable. It seems logical that a trade deficit (that is, selling less than we buy) is a drain on our economy. Indeed, every month the news media feed us the bad news about the negative “balance of trade” data reported by the Commerce Department.
Prior to the origination of the plans for the Panama Canal vessels of trade had few options of getting goods from Europe and Asia to N. America. One was to sail around the southern tip of South America (Cape Horn) adding months to the journey if they were lucky enough to make it through what is known as one of the most hazardous shipping routes in the world, where it’s estimated that over 800 ships have been lost over the last couple of centuries of trade.
On February 10, 2025, President Trump signed proclamations to reinstate the full 25% tariff on steel imports and increase tariffs on aluminum imports to 25%. Section 232 of the Trade Expansion Act of 1962 affords the President with the authority to adjust imports being brought into the U.S. in quantities or under circumstances that threaten to impair national security. The President says the reinvigorated Section 232 tariffs “will support the program’s original objective of revitalizing the domestic steel and aluminum industries and achieving sustainable capacity utilization of at least 80%.”
The United States-Mexico-Canada Agreement (USMCA) joint review process is scheduled to begin on July 1, 2026, but the time to prepare is now. Embedded trade compliance professionals should already be doing scenario analysis—pulling data, calculating the supply chain impacts of potential changes, and helping their companies to strategize accordingly.
In 2024, China’s Belt and Road Initiative (BRI) saw significant financial engagement. Preliminary data indicates that China invested approximately $92.4 billion in various projects across the 149 countries involved in the BRI. China’s Belt and Road Initiative (BRI) encompasses numerous large-scale infrastructure projects across the globe.
As of now, the start of 2025, there are several Chinese industrial parks in Mexico, with notable examples including the Hofusan Industrial Park near Monterrey, which hosts manufacturing plants for ten Chinese companies. When one is considering how to navigate the U.S. import tariffs, for many Chinese manufacturers, pulling the trigger on nearshoring is the right move.
Recent announcements by former U.S. President Donald Trump regarding the potential imposition of import duties on goods from Mexico have created uncertainty for companies operating under the IMMEX program. Many businesses are concerned that the benefits provided by this program may no longer apply.
As one of his first official acts as President, Trump released his memorandum on America First Trade Policy. The policy offers insight into the new administration’s trade priorities and calls for a review of current trade-related policies. President Trump says his goal is to establish “a robust and reinvigorated trade policy that promotes investment and productivity, enhances our Nation’s industrial and technological advantages, defends our economic and national security, and — above all — benefits American workers, manufacturers, farmers, ranchers, entrepreneurs, and businesses.”