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.1 Put more simply, we must sell more...more
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...more
So, here we are post Liberation Day and investors have been liberated from over $6 trillion dollars U.S. just in the last week. These “reciprocal” tariffs were supposedly aimed at balancing trade with other countries, some of...more
President Donald Trump on April 2, 2025, issued an executive order (EO), "Regulating Imports with a Reciprocal Tariff to Rectify Trade Practices that Contribute to Large and Persistent Annual United States Goods Trade...more
On March 13, 2025, the State Department published a notice in the Federal Register designating all agency action with respect to international trade a “foreign affairs function” of the United States under the Administrative...more
The U.S. Trade Representative (USTR) is seeking comments on the Trump Administration's "Fair and Reciprocal Plan" to assist it in identifying any unfair trade or non-reciprocal foreign trade practices. The deadline for...more
President Trump announced his Fair and Reciprocal Plan (the Plan) pursuant to his America First Trade Policy. While the Memorandum does not immediately create any new tariffs, it outlines the Trump administration's plan to...more
President Donald Trump issued a memorandum on reciprocal trade and tariffs on Feb. 13, 2025, citing the economic and national security threat posed by the trade deficit, as outlined in the Jan. 20, 2025, America First Trade...more
On Feb. 13, President Donald Trump issued a memorandum directing the Secretary of Commerce and U.S. Trade Representative (USTR) to review all tariffs imposed on U.S. exports as well as other non-tariff trade barriers that...more
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...more
In this third installment of our five-part trade series, we review the Trump-Vance administration’s America First Trade Policy memorandum and detail the foundational elements for imposition of tariffs to prepare importers if...more
On January 20, 2025, within a few hours of his return to the White House, U.S. President Donald Trump signed an “America First Trade Policy” memorandum, revealing the initial priorities of his trade agenda. Week one in the...more
Early this week, President Trump unveiled his “America First Trade Policy.” The policy, issued as a memorandum to his incoming senior trade and national security officials, offers insights into the new administration’s...more
The first two days of the new Trump administration were marked by pronouncements that portend short-run uncertainty about the tariff environment. Although President Trump’s past statements had led many people to expect he...more
The President’s memorandum does not implement tariffs or other immediate relief, but previews the statutory authorities that will guide future trade action. On January 20, 2025, President Trump issued a memorandum...more
Requires a variety of reports and recommendations to be delivered to the President by April 1, 2025: on the causes of the persistent trade deficit, how to establish the External Revenue Service, unfair foreign trade...more
The Cozen Lens- • A second term for former President Trump would mean the return of his “America First” foreign policy, including its resulting geopolitical uncertainty. • President Biden and Chinese President Xi Jinping...more
Tariff evasion has been a growing problem for years, but the scale of the problem has reached unprecedented levels. Economists at the Federal Reserve Bank of New York and Board of Governors of the Federal Reserve System...more
Here’s a fun little exercise. Pull up a chart of Tuesday's market activity, and see if you can pinpoint the exact moment the White House announced to the world that it was pulling support for another Covid stimulus bill...more
Bloomberg is reporting that Walgreens Boots is weighing a potential deal “to take the company private in what could become the largest leveraged buyout in history.” PE firms like KKR are apparently in the mix to assist in the...more
Outlook for This Week in the Nation's Capital - Congress. House Majority Leader Steny Hoyer announced last week that the full House of Representatives will vote this week on whether to hold Attorney General William Barr...more
Federal regulators moved this week to “ease oversight of Wall Street firms by scaling back two major mechanisms that were imposed to scrutinize big financial companies in the wake of the financial crisis.” ...more
The U.S.-China trade deficit, which last year totaled $376 billion, has become the center of an ongoing trade war between the two nations. A series of reciprocal and ratcheting tariffs have escalated these tensions, rapidly...more
U.S. to Give Eight Nations Oil Waivers Under Iran Sanctions, Official Says - "The U.S. has agreed to let eight countries - including Japan, India and South Korea - keep buying Iranian oil after it reimposes sanctions on the...more
Tariffs were a hot topic at this weekend’s G-7 meeting in Canada, and as we’ve seen over the past weeks, it was once again the US vs. the world....more