By Mike Smiszek, Senior Trade Advisor, Braumiller Consulting Group
Many of our basic freedoms are guaranteed by the Constitution. Speech, press, assembly, religion: these are all accepted as sacrosanct rights by reasonable people across the political spectrum. But should we not have the same freedom when it comes to the economy?
By Paul Fudacz, Partner, Braumiller Law Group and Olivia Van Pelt, Law Clerk at Braumiller Law Group
On May 8, 2025, the United States and United Kingdom (UK) unveiled the new trade terms of an “economic prosperity” deal. This deal comes after President Trump imposed a 10% reciprocal tariff on all products from the UK and additional tariffs on steel and aluminum, and automobiles and automobile parts. While the 10% reciprocal tariff will remain in effect, the two countries were able to agree on alternative arrangements for steel and aluminum, automobiles, and other strategic sectors.
By: Olivia Van Pelt, Law Clerk at Braumiller Law Group
On May 28, 2025, the United States’ Court of International Trade (CIT) struck down the President’s use of the International Economic Emergency Powers Act (IEEPA) to impose tariffs. This includes tariffs imposed on Canada, China, and Mexico in response to the fentanyl crisis at U.S.’ borders and reciprocal tariffs imposed on almost all foreign imports on April 2, 2025. The Government immediately appealed the decision to the U.S. Court of Appeals for the Federal Circuit (CAFC).
By: Victoria Holmes, Braumiller Law Group
A quiet but significant power shift has been unfolding across Latin America. While the United States has long been the dominant economic and political influence in the region, its recent inward turn under the “America First” doctrine has created openings that China is eager to fill.
By: James R. Holbein, Of Counsel
The first quarter of 2025 has reshaped the U.S. trade landscape with a flurry of executive actions by the Trump administration, introducing a new wave of tariffs on imports from almost all U.S. trading partners. The Trump Administration has also levied broad duties on imports from Canada, Mexico, and China, on the basis of emergency powers of the Executive Branch, citing national security, border control, and illicit drug interdiction.
By Bob Brewer, Braumiller Law Group
As a broad stroke of tariffs are now levied against various countries to close the trade deficit gap, without truly examining the reason(s) for the imbalance, there will most likely be automatic retaliatory tariffs in a lose-lose situation. The White House stated that currently 50 countries are on the phone with the President, but that is hard to confirm. US consumers will ultimately pay the price, as well as SME’s.
By: Brenda Cordova, Mexico Attorney, Braumiller Law Group
On April 3, 2025, during the presidential daily morning briefing, Mexico’s President Claudia Sheinbaum responded to the import tariffs announced the day before by President Trump, which targeted several countries. She emphasized that, of all the nations affected by these new duties, Mexico was the least impacted. She attributed this to the strong bilateral relationship between Mexico and the United States. She also reiterated that, since Mexico does not impose tariffs on U.S. goods, it is unfair for the U.S. to impose tariffs on Mexican products.
By Bruce Leeds, Senior Counsel, Braumiller Law Group
As is well known the US has imposed duties of 25% on imports from Canada and Mexico. This means that those imports will take the regular duty plus 25%. For example, a switchgear assembly classified under 8537.10.91 made in Canada or Mexico will take a duty of 2.7% plus the special tariff of 25% for a total rate of 27.7% of the value.
By Mike Smiszek, Senior Trade Advisor, Braumiller Consulting Group
The various tariffs that President Trump has imposed since retaking office are based on delegated authority found in several existing statutes. But a century ago, tariffs were primarily the purview of Congress. One of the most controversial manifestations of U.S. tariff legislation (and of American legislation in general) was the Smoot–Hawley Tariff Act of 1930, signed into law by President Hoover shortly after the United States—and the world—fell into the black hole of the Great Depression.
By Mike Smiszek, Senior Trade Advisor, Braumiller Consulting Group
Several fundamental conditions are widely presumed necessary for a country to enjoy the benefits of global trade. One condition is that import activity ought not exceed export activity. Put more simply, we must sell more than we buy. On its face this seem reasonable. It seems logical that a trade deficit (that is, selling less than we buy) is a drain on our economy. Indeed, every month the news media feed us the bad news about the negative “balance of trade” data reported by the Commerce Department.
By: James R. Holbein, Of Counsel
On March 3, 2025, the Office of the United States Trade Representative (USTR) released the 2025 Trade Policy Agenda and 2024 Annual Report on the Trade Agreements Program. The report outlines the rationale of the Trump Administration for its trade policy goals and actions. It complements and expands on the America First Trade Policy Executive Order and also encompasses the massive imposition of tariffs by the President on April 2 in his so-called “Liberation Day” Executive Order and Fact Sheet.
By: Victoria Holmes, Braumiller Law Group
Donald Trump’s first term in office pursued an aggressive foreign policy toward China, imposing tariffs, restricting technology transfers, and accusing Beijing of unfair trade practices. However, one unintended consequence of this hardline approach has been China’s accelerated expansion into Latin America—a region traditionally within the U.S. sphere of influence.
By: Victoria Holmes, Braumiller Law Group
Liberation Day passed with the promised reciprocal tariffs touted by the Trump administration. The president, surrounded by workers in the Rose Garden on April 2, executed a number of tariffs promising to Make America Wealthy Again. How did they calculate these tariffs? Well, there’s speculation.
By: James R. Holbein, Of Counsel and Justin Holbein
On March 7, 2025, the White House hosted a Digital Assets Summit to celebrate the creation of a Bitcoin Strategic Reserve and a Digital Assets Stockpile by an Executive Order titled, “Establishment of the Strategic Bitcoin Reserve and United States Digital Asset Stockpile“. The Executive Order recognizes that “The Bitcoin protocol permanently caps the total supply of bitcoin (BTC) at 21 million coins, which is critical to its value proposition as a scarce asset.
By Bob Brewer, Braumiller Law Group
Chaebols are large, family-owned business conglomerates that play a significant role in South Korea’s economy. These conglomerates have a significant influence on the South Korean economy and are often involved in various government decisions. This rather close relationship has resulted in not just mutual support, but the government providing subsidies, loans, and tax incentives.
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