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In recent days, President Trump announced that he will trim import tariffs on Chinese-origin goods by 10%; that he intends to increase tariffs on Canadian-origin goods by 10%; and that he has reached a series of trade agreements and understandings with Cambodia, Japan, Malaysia, South Korea, and Thailand.
Although these announcements provide a measure of added certainty to the U.S. trade landscape, many questions remain about how these changes will be implemented and whether they will be long-lasting. These announcements come as the U.S. Supreme Court held oral arguments on Wednesday about the legality of President Trump’s tariffs imposed under the International Emergency Economic Powers Act (“IEEPA”).
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