We are now over a week out from SCOTUS striking down IEEPA tariffs, and the Trump Administration is still sifting through the rubble. Only one thing is certain: the Section 122 tariffs on non-compliant USMCA goods remain at 10%. Whether Trump decides to raise that rate to the maximum 15%, the path toward refunds on IEEPA tariffs, and steps toward possible Section 301 investigations into Mexico and Canada all remain outstanding, creating a difficult decision matrix for business and muddying the upcoming USMCA Review. More on this below.
A shift appears to be underway between the two most important U.S. trade agencies, one that could produce more favorable outcomes. The Department of Commerce, led by Secretary Lutnick, has embodied his bold and brash style. However, actions from the DOC that lack detailed guidance have often left the private sector uncertain. This dynamic, at times, created frustration within the Office of U.S. Trade Representative, led by the more measured Ambassador Greer. As a result, a rebalancing of authority now seems increasingly likely.
Finally, we've ascertained more details on the USMCA Review roadmap.
Subscribe to our premium content to read the rest.
Become a paying subscriber to get access to this post and other subscriber-only content.
Upgrade