Skip to main content

Posts

Showing posts with the label Tariff

Trump’s Tariff Hearing Date Is Set

  President Trump’s tariff hearing date is set for November 5, following an announcement from the Supreme Court. The Supreme Court will review two cases:  Learning Resources v. Trump and Trump v. V.O.S. Selections . In Learning Resources v. Trump, businesses challenge Trump’s authority to impose tariffs under the IEEPA (International Emergency Economic Powers Act). The Trump v V.O.S. selections will be the president asking for a review of the ruling striking down the tariffs. Due to the high stakes involved, the Supreme Court is moving the cases on an expedited schedule. If the court rules the tariffs illegal, the US government may have to pay back hundreds of billions to importers. What Is The Issue Regarding Trump’s Tariffs? The issue started in April 2025, when Trump issued sweeping tariffs for all countries importing into the US . Along with a baseline 10% tax, this included specific levies for countries like China, Mexico, and Canada. In addition to reducing tra...

US-Japan Trade Deal Starting

  International shipping may soon feel the impact of the US-Japan trade deal starting on September 16. On July 22, the Trump Administration reached an agreement with Japan establishing a tariff framework between the countries. The deal includes a 15% baseline on most Japanese imports into the US, including  automobiles and auto parts . When Trump returned to the presidency, he hiked the 2.5% duty on Japanese automobiles to 27.5%. The US will equally reduce the rates of automobile imports coming from the EU (European Union) and South Korea. Some of the other key details from the trade deal include: Japanese imports will no longer have additional ad-valorem tariffs and reciprocal duties on top of the 15%. The tariff’s adjustments are retroactive to August 7. Importers that come into the US from Japan after that date are eligible for refunds under the deal. Japan will invest $550 billion in US projects picked by the US government. These will focus on national and economic sectors...