Tariff-ied! This Week in International Trade

The useful part

Trade Representative (USTR) has maintained a central role in shaping tariff policy, helping drive 48 major changes to tariff rates — likely more than were undertaken in the prior century. At the same time, the administration is making a push for a major overhaul of the United States-Mexico-Canada Agreement (USMCA), which could lead to future tariff changes and new origination rules. With multiple Section 232 investigations still pending, and with broad new Section 301 tariffs on manufacturing oversupply expected to reach roughly 16 countries encompassing most major U.S.

How it works

• Ties could be broken by predictions of how the Federal Circuit will rule in Section 122 tariff refund litigation.
• trading partners, importers and companies that depend on global sourcing should continue to prioritize flexibility in their supply chains, sourcing strategies, and customs planning.
• With March Madness still many months away, a gentle suggestion is that we create a "when will we hit the 50th major trade action?" pool.
• Instead of picking upsets and Final Four sleepers, participants can wager on whether the next big move comes through Section 301, Section 232, sanctions, or the unearthing of yet another...
• The winner could receive one glorious day of importing at 2024 tariff rates.

What to take from it

The timing is ideal, because the odds are we will hit...

Details worth keeping

Since the start of the Trump administration, the Office of the U.S.