On July 20, 2026, President Donald Trump issued three Proclamations pursuant to Section 338 of the Tariff Act of 1930 imposing 50% tariffs on imports of certain Canadian goods. The Proclamations, “Imposing Additional Duties to Offset Canadian Discrimination Against
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CIT Orders CBP to Process IEEPA Tariff Refunds for Phase 3 “Finally Liquidated” Entries
On July 17, 2026, U.S. Court of International Trade (CIT) Senior Judge Richard Eaton, issued an order, which was made available today, directing U.S. Customs and Border Protection (CBP) to “reliquidate, without regard to IEEPA [the International Emergency Economic
What is Reasonable? Lessons in Pension Plan Actuarial Equivalence from Three Recent Cases
In less than three months, two federal courts of appeals have held that ERISA’s actuarial-equivalence requirement mandates reasonable actuarial assumptions, rather than assumptions that simply produce mathematically equivalent optional forms of benefits to the default form of payment. In Reichert
USTR Imposes 25% Section 301 Tariff on Certain Imports from Brazil
On July 15, 2026, the Office of the U.S. Trade Representative (USTR) announced that, pursuant to Section 301 of the Trade Act of 1974, it was imposing a 25% tariff on certain imports of Brazilian goods. The announcement came at
USTR Directs ITC to Launch Section 201 Investigation into Lamb Meat Imports
The Office of the U.S. Trade Representative (“USTR”) asked the U.S. International Trade Commission (“ITC”) on July 13, 2026, to launch a Section 201 global safeguard investigation into lamb meat imports after domestic sheep producers filed a petition last year
President Trump Announces Negotiations Based on Section 232 Commercial Aircraft and Engine Findings
On July 9, 2026, President Trump issued a Presidential Proclamation, pursuant to Section 232 of the Trade Expansion Act of 1962, ordering the Secretary of Commerce and U.S. Trade Representative to continue negotiating agreements with trading partners to address
President Trump Announces Initiation of Recission of Syria’s Designation as a State Sponsor of Terrorism
On July 8, 2026, on the sidelines of the NATO summit, President Donald Trump announced his intention to remove Syria from the State Sponsor of Terrorism list, a significant move that would assist Syria’s efforts to re-engage in the global
OFAC Reinstates U.S. Sanctions Related to Sales of Iranian Oil
On July 7, 2026, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) revoked Iran-related General License X and issued Iran-related General License X1, for the “Revocation and Wind Down of June 21, 2026 Authorization for the
The 401(k) Investment Revolution: What the DOL’s Proposed Alternative Assets Rule Means for Fiduciaries
Alternative assets are nothing new for retirement plans. Defined benefit plans have held private equity, real estate, and commodities for decades, and ERISA itself imposes no restriction on the types of assets a plan may hold. What is new is
CIT Issues Order Addressing China Section 301 Cases in Light of Supreme Court Denial of Certiorari
On July 6, 2026, the U.S. Court of International Trade (CIT) issued an Order announcing resolution of all pending but stayed China Section 301 cases because of the June 15, 2026 U.S. Supreme Court decision denying the petition for a