Price: Expect new trade shocks as Trump's 'reciprocal' tariff negotiations continue

Written by Alan Price & John Allen Riggins

The Trump administration has commenced whirlwind negotiations with trading partners before its reciprocal tariffs resume in early July. Until then, putting aside Section 232 tariffs, all countries are subject to a universal 10% tariff.

There are some very important caveats to this general rule. China saw its reciprocal tariff rate increase. Meanwhile, Canada and Mexico remain generally subject to International Emergency Economic Powers Act (IEEPA) tariffs—with exceptions for products that are compliant with the United States-Mexico-Canada Agreement (USMCA).

Alan Price

Price has more than 30 years of experience representing clients in high-profile, complex international trade regulatory matters, including trade litigation involving public and government relations issues. In addition to being chair of the firm’s International Trade Practice, he heads the firm’s antidumping and countervailing duty practice. He also counsels clients on bilateral and multilateral agreements, trade legislation, customs regulation, Foreign Corrupt Practices Act (FCPA) compliance issues, escape clause investigations, and World Trade Organization (WTO) dispute resolution.

John Allen Riggins

Riggins advises in matters related to trade remedies, national security, supply chains, trade policy, and digital trade. He represents client interests in a variety of international trade remedy proceedings before the Department of Commerce (DOC) and International Trade Commission (ITC) and related litigation before the US Court of International Trade (CIT) and the US Court of Appeals for the Federal Circuit (CAFC). Riggins has represented domestic producers in a wide array of industries, including steel, aluminum, wood, wind energy, transportation, and photovoltaics products.