The new Trump administration has generated much uncertainty with dramatic shifts in U.S. trade policy, particularly around tariffs. Traditionally, tariffs have been imposed to address threats to domestic industries, respond to violations of trade agreements, and to counteract discrimination against U.S. commerce. Tariffs for reasons of national security, issued under Section 232 of the Trade Expansion Act of 1962, were relatively rare and narrow until 2018. Under the “America First Trade Policy,” the new administration has tied tariffs more closely to national security priorities, expanded the use of tariffs to address a wider variety of foreign policy issues, and intends to use tariffs to attempt to balance the value of U.S. exports with U.S. imports.
Tariff policy has changed rapidly as it is used as a foreign policy tool: as other countries react, announced tariffs have been delayed or rescinded before implementation in some cases, but in other cases tariffs have escalated due to retaliation. For some of the new rules – such as the elimination of the “de minimis” exception to tariffs for goods from certain countries – the administration has had to delay implementation due to a lack of resources. Because the administration is using novel mechanisms to introduce tariffs without congressional action, domestic litigation is likely. In the current environment, up-to-date, industry- and country-specific advice is a must.
Pierce Atwood’s cross-disciplinary Tariff Strategy group includes attorneys with expertise across a range of legal issues and industries, combined with a deep understanding of the foreign policy issues driving administration moves. Our Tariff Strategy team provides up-to-date and practical advice regarding the impact of tariffs on international trade compliance, energy transactions, tax and transfer pricing, technology, and financial services to help clients manage the rapid changes.
As tariff policy has been changing quickly, please check back regularly for updates.
- Trump Administration Announces "Reciprocal Tariffs" - April 3, 2025