Earlier this year, the Trump Administration invoked the International Emergency Economic Powers Act (IEEPA), a 1977 emergency statute, to impose sweeping import tariffs on various US-trade partners. These unprecedented IEEPA tariffs sparked immediate legal challenges by affected businesses and states, which argued the President overstepped authority. Lower courts have so far agreed. The Supreme Court must […]

What is the USMCA? The United States-Mexico-Canada Agreement (USMCA) is a trade agreement between the United States, Mexico, and Canada that replaced NAFTA (a past trade agreement) on July 1, 2020. Though it has a variety of intricacies, its basic purpose is to facilitate less expensive and easier transportation of goods and services between the […]

In early 2025, the Trump administration shook global markets by imposing sweeping new tariffs on imports from major U.S. trading partners — including China, Mexico, and even Canada. Framed as a response to national security threats, these tariffs ranged from 10% to as high as 50% on certain goods. But what raised eyebrows was not […]

When a product crosses a country’s border, the government can charge a tax before the product enters the country’s domestic economy. In essence, a tariff is the tax that a government imposes on imported goods. The U.S. can impose tariffs on essentially all goods entering the country. The Harmonized Tariff Schedule of the U.S. (HTSUS) […]

In our ongoing series on International Trade Terms, we dive deeper into the intricacies of Incoterms® 2020—a globally recognized set of standards defining the responsibilities of buyers and sellers in international transactions. Building upon our previous post that introduced Incoterms, this article focuses on the first three terms suitable for multiple modes of transportation: EXW […]

Import and export deals can be complex to navigate, including often confusing terminology. While terms in international transactions might be difficult to understand, businesses can save considerable headache by familiarizing themselves with International Commercial Terms. Better known as “Incoterms” today, Incoterms are crucial components of both domestic and international transactions. You or your business may […]