TradeLane

Following the inauguration of the new administration on January 20th, 2025, there has been significant movement in both statements and confirmed actions that have an impact on trade.

In response to the United States’ decision to impose tariffs on all Canadian goods, on February 1, 2025, Prime Minister Justin Trudeau announced that Canada would implement a 25% retaliatory tariff on a range of U.S. imports. 

UPDATE: However, as of February 3rd, 2025, these governments have reached an agreement that will pause the implementation of tariffs for at least 30 days.  You can find the Customs Notice here:  https://www.cbsa-asfc.gc.ca/publications/cn-ad/cn25-04-eng.html"

Canadian Free Trade Agreements (FTAs) are more than just formal arrangements; they serve as keys to unlocking new opportunities for your business. By understanding the details of these agreements and utilizing their advantages, companies can optimize their supply chains, reduce costs, and strengthen their competitiveness in the global marketplace. Continue reading to explore the intricacies of FTAs and learn about the benefits of leveraging these agreements for your business.

In 2020, HMTX Industries, LLC, along with over 3,600 other importers and associations, filed a lawsuit claiming that President Trump exceeded the authority delegated by Congress under Section 301 of the Trade Act when implementing the List 3 and 4a tariffs during a "trade war" with China. The lawsuit alleges violations related to trade secrets and intellectual property rights (IPR) theft.

As businesses brace for 2025, the European Union will introduce significant updates to the Harmonized System (HS) of tariff classification, effective 1 January 2025. These changes, encapsulated in the Combined Nomenclature (CN), are vital for companies engaged in international trade to ensure accurate classification and compliance. The upcoming revisions reflect advancements in statistical requirements, commercial policies, and technological developments.