As global trade dynamics grow increasingly complex, staying attuned to key policy shifts is essential for companies managing cross-border risks and pursuing strategic opportunities.
Wiley’s International Trade Practice outlines the pivotal developments that are reshaping the global trade environment in 2025—affecting sectors from manufacturing and technology to energy and agriculture.
To learn more or discuss how these developments may impact your business, we invite you to connect directly with the featured partners on this page.
Tariff Tune-In Video Series
Tariffs in Transition: The Post-Shutdown Rundown
The government shutdown didn’t affect any U.S. tariffs.
In this episode of the Tariff Tune-In series, Derick G. Holt revisits the seven-bucket tariff framework with a comprehensive recap, covering new duties, rollbacks, and deadlines affecting tariffs on various products—some of which may impact your holiday dinner table. He also discusses the Supreme Court’s hearing on the IEEPA tariffs, and what to expect for the remainder of 2025.
Our International Trade Practice hosted a debrief on the Supreme Court hearing on the IEEPA tariffs. View it on-demand here.
Forests to Factories: New Targets in Section 232 Tariffs
In this episode, Derick G. Holt discusses the evolving role of Section 232 tariffs, including new tariffs on timber and wood products. He also breaks down new Section 232 investigations into medical and personal protective equipment as well as industrial machinery and robotics. Comments are due October 17, 2025 in those proceedings, which could significantly impact U.S. manufacturers and importers.
The Make It in America Coalition is available to help companies seeking to expand production in the United States, in navigating the shifting trade and tariff landscape. To learn more, reach out to Derick or Greta M. Peisch.
Current Tariff Overview: Part 3
In Part 3, Derick G. Holt completes the “Seven-Bucket Breakdown” of the current tariff landscape by covering the final three buckets: “IEEPA Tariffs on Canada, Mexico, and China to Address the Fentanyl and Border Crises”; “IEEPA Reciprocal Tariffs”; and “Secondary IEEPA Tariffs.”
Current Tariff Overview: Part 2
In Part 2, Derick G. Holt continues the “Seven-Bucket Breakdown” framework on the current tariff landscape by diving into the next two buckets, “Section 232 Tariffs on Steel and Aluminum” and “Section 232 Tariffs on Other Products.”
Current Tariff Overview: Part 1
In Part 1 of this premiere episode, Derick G. Holt sets the stage for the series by offering a quick, high-level update on the current tariff landscape and dives into the first two buckets of his “Seven-Bucket Breakdown” framework, “Antidumping/Countervailing Duty Tariffs” and “Section 301 Tariffs on China.”
2025 Key Trade Developments Series
Tariffs
Navigating Shifting U.S. Tariff & Trade Policy
With unprecedented tariff actions and trade measures—including Section 232 investigations and expanded International Emergency Economic Powers Act (IEEPA) authorities—that have defined the early months of the Trump Administration, companies face a rapidly changing regulatory environment. Timothy C. Brightbill unpacks the implications of these developments and what they signal for global commerce and supply chain strategy.
Transcript
The first few months of the Trump Administration have been dominated by international trade policy and by tariffs in particular. This Administration has taken a series of unprecedented trade actions, starting with the America First Trade Policy memo, and continuing with a series of sweeping Executive Orders and other actions on tariffs. For example, the Administration has used the International Emergency Economic Powers Act, or IEEPA, to impose country-wide tariffs on Canada, Mexico, and China, due to the issues of fentanyl trafficking and the immigration crisis at our border.
What sector-specific trade actions have been applied from the Trump Administration?
The Administration has also announced sector-specific investigations or actions under Section 232 of the trade laws, addressing threats to national security. This has resulted in increased tariffs on steel and aluminum, with other investigations underway on copper, as well as timber, lumber, and derivative products. New Section 232 investigations on pharmaceuticals, semiconductors, and critical minerals are also underway. More recently, on April 2, the Administration announced broad reciprocal tariffs on most of our trading partners, including a 10% general tariff increase and additional country-specific tariffs designed to offset trade barriers and non-reciprocal tariff rates abroad. These country-specific tariffs have been paused 90 days while negotiations occur. However, the situation with the U.S. and China is much different and is evolving quickly, with much higher tariffs, but also with exclusions for smartphones and other electronics.
What can businesses expect following the latest tariff developments?
Two things are clear. First, tariffs and trade policy are going to remain a centerpiece of this Administration’s economic agenda. And, second, companies and industries need assistance with understanding, implementing, and responding to these critically important tariff and trade policy announcements.
Our Wiley Rein International Trade, Customs, and Supply Chain practices are here to help. We are providing tariff tracking tools, client alerts on breaking news, and comprehensive, specific legal advice to all affected client companies and industries, and other assistance. We are in uncharted waters with these tariff and trade actions, and we are here to help you navigate them.
U.S.-Mexico-Canada Agreement (USMCA)
USMCA’s Role in Current Tariff Framework
With reciprocal tariffs reshaping trade dynamics around the world, the U.S.-Mexico-Canada Agreement (USMCA) has taken on increased importance for businesses and manufacturers navigating U.S. import rules. Greta M. Peisch explores how the upcoming 2026 review—and the Administration’s effort to realign supply chains—may shift the agreement’s scope and strategic value.
Transcript
There has been a lot of upheaval in the U.S. trading system after the imposition of broad-based reciprocal tariffs. The tariff environment will continue to evolve as the Administration pursues negotiations and sector-specific trade actions.
What trade agreement are you monitoring in this evolving scenario?
A key place to watch is the U.S.-Mexico-Canada Agreement, or USMCA. Currently, imports of products that meet the rules for USMCA compliance are one of only a few categories of goods that continue to come into the United States without additional tariffs. As a result, the value of that agreement to manufacturers operating in Canada and Mexico has gone up substantially, and it has become critical to understand how it applies to products coming into the United States. In addition, the agreement is up for review next year, but the process of considering changes is starting right now.
Will the review of USMCA impact other trade renegotiations?
The backdrop of high tariffs on imports from the rest of the world, and also on products from Mexico and Canada that do not meet the USMCA rules, has shifted the parameters of the renegotiations that come out of the review. We expect the Trump Administration will use that leverage to seek changes in support of its objective of moving production to the United States.
At Wiley, we can help clients understand the shifting landscape, provide input into negotiations, and anticipate how it will impact their bottom line.
Trade Remedies
Trade Remedies Present New Considerations for U.S. Manufacturers
As global overcapacity disrupts U.S. supply chains, proposed changes to trade remedy laws under the Trump Administration could alter how manufacturers—particularly in downstream sectors—navigate foreign market pressures. Robert E. DeFrancesco, III offers insight into what these developments mean for companies evaluating their position in an evolving trade environment.
Transcript
How has the Trump Administration influenced recent developments in trade remedies?
There’s been several new developments. The Trump Administration has identified a whole host of different amendments they want to make to make the trade remedies laws work more effectively for domestic industries, and we’ve seen a growth in the clients and the domestic industries that we’re supporting as a result of that.
Which industries should monitor trade remedy actions?
All domestic manufacturers should be paying attention to the opportunities, to these adjustments to the trade remedy rules, especially those downstream manufacturers who maybe haven’t been using remedy rules as frequently.
What’s happened is, as the Chinese have expanded massive amounts of excess capacity in steel and aluminum and glass and all these other commodity products to support their own industries, initially that caused disruptions for U.S. producers of those types of products, and now what we’re seeing is those downstream consumers of those products are now experiencing their own trade disruptions from the Chinese and others. And so all U.S. manufacturers should be familiar with the trade remedies rules, and certainly the amendments the Trump Administration is looking at to make them more effective. It will support the entire value chain overall, but really where we’re seeing the most increase on our trade remedies and our business is in those downstream industries.
What should businesses consider as trade remedy rules evolve?
All U.S. manufacturers have different supply lines, and they need to consider those supply lines and how they may or may not be affected by the different tariff regimes that the Trump Administration has rolled out. Specifically, it relates to trade remedies, the amendments to those rules, and how they might be affected. There’s obviously both risks and opportunities for U.S. manufacturers, and they want to consider how best to use the trade remedies rules in a way that might be able to address any unfair trade they’ve been experiencing, and how best to use those rules to leverage their business in a way that would be most helpful.
CFIUS Review and Outbound Investments
Investment Scrutiny Rises Amid Security Priorities
As national security priorities increasingly shape U.S. investment policy, recent actions—including the Biden Administration’s outbound investment program and the “America First Investment Policy” memorandum—mark a notable expansion in regulatory scope. Nova J. Daly outlines what these developments mean for sectors at the nexus of capital flows and emerging technology.
Transcript
What are key highlights from the Outbound Investment program under the Trump Administration, and what industries are affected?
As you may know, Treasury’s Outbound Investment Security Program was initiated by the Biden Administration, and it started in January of this year. It seems to be chugging along, but that program, it’s centered on requiring notifications or stopping certain investments to China by U.S. persons for segments of the U.S. industry, including semiconductor, quantum computing, and artificial intelligence. However, the February memorandum contemplates including additional sanctions under IEEPA. It also considers restrictions that expand beyond AI, in terms of biotech, aerospace, hypersonics, also to encompass investments in the green field, corporate pension funds, university endowments, limited partnerships – so it’s really looking like it’s going to expand.
How is CFIUS affected by the America First Memo?
I would focus on what’s laid out in the America First Investment Policy memo. It’s a national security Presidential Memorandum of February 21. So the key issues that are there that hit CFIUS are the open investment, that it remains a goal and focus of this Administration. The memo also focuses on the threats from China and foreign adversaries. It says expressly the U.S. will use all necessary legal instruments, including CFIUS, to restrict PRC affiliated persons from investing in the United States technology, critical infrastructure, health care, agriculture, energy, raw materials, you name it. But then the memorandum goes on and says it wants to facilitate foreign investments from U.S. allies and partners, creating fast tracks for CFIUS review for those entities that are further away from China, and the easier it will be for them to get approvals, expedited reviews of environmental issues if the deal is over a billion. The other thing the memorandum wants to do is expand emerging and foundational technologies. That will mean more mandatory reviews by CFIUS. It also is going to look at real estate; that’s going to be a focus. It’s going to look at greenfield as well, and potential legislative considerations where that’s concerned. And then the last big one, it is going to narrow mitigation. If it’s too much to enforce, the deal is just going to just be upended.
How can Wiley help businesses navigate through the CFIUS and Outbound Investment processes?
We have a broad and deep bench of professionals here that have worked on CFIUS inside Administrations and out here for many, many years, also on the outbound. When you choose Wiley Rein in terms of these issues, you’re choosing a firm that has a great bench and experienced personnel that know how to figure these issues out and do them efficiently, quickly, and successfully.
Contact Us
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Alan H. Price |
Timothy C. Brightbill |
Hon. Nazak Nikakhtar |
To stay informed on all of the announcements from the Trump Administration, please visit our dedicated resources below.
