Big news for global trade: The Supreme Court has set November 5 as the hearing date for Trump’s tariff case. Two major cases are on the table—Learning Resources v. Trump, and Trump v. V.O.S. Selections.
US-Japan Trade Deal Starting
Big shifts are coming to international shipping! Starting August 16, the new U.S.–Japan trade deal kicks in, setting a 15% baseline tariff on most Japanese imports—including automobiles and auto parts.
New Steel And Aluminum Tariffs
President Trump just signed an executive order imposing a 25% tax hike on ALL steel and aluminum imports, starting March 12th. Unlike his first term, where aluminum faced a 10% tariff, this time it’s up 15% higher!
Tariff Increase On Imports
Starting September 27th, the Biden Administration will raise tariffs on Chinese imports like electric vehicles, batteries, solar panels, and semiconductors. This comes after a USTR review of Section 301 tariffs aimed at promoting fair trade. While some increases hit in 2024, others will phase in over three years.