Adapting to Tariffs and Other Trade Policy Shifts Under the Trump Administration
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Adapting to Tariffs and Other Trade Policy Shifts Under the Trump Administration
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In this episode of our "An Energized Exchange" podcast series by our Energy & Natural Resources Industry Sector Group, attorneys Andrew McAllister, Susan Lafferty and Robert Friedman provide a timely update on the impact of recent tariff changes implemented by the Trump Administration. They look at the swift international reactions and negotiations that followed the signing of three executive orders on Feb. 1, 2025, which imposed significant tariffs — 25 percent on products from Canada and Mexico and 10 percent on those from China. Notably, although the tariffs on China went into effect almost immediately, those aimed at Canada and Mexico were paused for 30 days as discussions ensued regarding issues including crime prevention and fentanyl trafficking. The episode highlights the complexities of tariff implementation, legal avenues for imposing tariffs under Sections 301 and 232, and the potential for flexibility under the International Emergency Economic Powers Act (IEEPA).