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Structured register of government actions in the geoeconomic space — export controls, tariffs, sanctions, FDI screening, subsidies, industrial-policy laws — cross-referenced into the country, minerals, and ETF surface. Charter: docs/IPTM_CHARTER.md.
Severity 1-5 is the qualitative impact rating (1=minor, 5=structural). The bilateral-trade-grounded quant scorer is the next IPTM milestone. RBI (Register Breadth Index) is a complementary structural-breadth indicator from scripts/py/iptm/breadth.py; divergence between RBI and severity is itself informative (high-sev / low-RBI = strategic chokepoint; low-sev / high-RBI = broad but shallow). Every action has at least one primary source URL. Verify-or-don't-file. See also themes, timeline, graph, sankey, map, country exposure, sector exposure, material exposure (+ graph), weekly briefs, portfolio scan, escalation monitor, trans-shipment hubs. Internal triage tools (RSS-poller candidate feed, source-feed health) live under /admin/candidates + /admin/sources. Subscribe via Atom feed (accepts ?country=CN, ?material=lithium, ?issuer=BIS, ?type=export_control, ?etf=SOXX, ?company=NVDA, ?minSeverity=4, ?year=2026, ?q=…) or pull /api/iptm/actions.
Cumhurbaşkanı Kararı No. 10790 (Resmi Gazete 31 December 2025, issue 33124 3rd reprint), in force 1 January 2026, restructures Türkiye's annual import-tariff architecture across 4,344 product lines from non-EU origins. The decree (i) introduces or expands additional customs duty (Ek Mali Yükümlülük / İlave Gümrük Vergisi) of 5%–48% on non-EU imports of iron and non-alloy steel, copper, aluminium, and base-metal household goods; (ii) introduces forward-looking import-surveillance measures across 172 products under 36 notifications, with reference-price floors that cap effective duty relief on under-valued shipments; (iii) updates duties on 324 Customs Tariff Statistical Positions across 21 chapters (219 HS lines raised by 2.4–15 percentage points; 8 lines under HS 7225/7228/8528/8529 raised by 3–14 points; 2 lines reduced by 6 points); (iv) opens duty-free tariff quotas for 35 industrial-product categories — including 27 battery / lithium-cell HS codes through 1 February 2027, 8m m² of plastic-treated textiles through 31 December 2026, and 40,725 tons of organic chemicals and aluminium sheets (16 February–31 December 2026); and (v) imposes a permit regime (6-month validity) on used and refurbished goods. EU and EU-Customs-Union origins remain exempt under A.TR preferential rules; the structural asymmetry vs non-EU partners is the core mechanism. Stated rationale (Ministry of Trade): support domestic production, prevent unfair competition, increase employment, reduce the current-account deficit.
Decree reforming various tariff fractions of the General Import and Export Duties Tariff (TIGIE), published in the Diario Oficial de la Federación on 29 December 2025 and in force 1 January 2026. The reform, approved by Congress as a statutory amendment to the LIGIE (Chamber of Deputies and Senate, Dec 2025) and signed by President Claudia Sheinbaum, raises MFN import duties to between 5% and 50% ad valorem on 1,463 tariff lines covering more than 20 chapters of the TIGIE, spanning automotive, auto parts, textiles, apparel, footwear, steel, aluminum, plastics, paper, leather, furniture, glass, toys, appliances and cosmetics. The increases apply only to goods originating in countries without a free trade agreement with Mexico — principally China, South Korea, India, Vietnam, Thailand, Brazil, Indonesia, Chinese Taipei, the UAE, and South Africa. The decree formalises at statutory level the September 2024 Sheinbaum executive order placing a 50% duty on finished passenger vehicles from non-FTA states and is framed by the Secretaría de Economía and SHCP as the operational tariff instrument of Plan México (2025-01-21).
On 26 November 2025 Prime Minister Mark Carney announced a package of measures to protect Canada's steel and softwood lumber industries, effective 26 December 2025. For steel, Canada tightened the tariff-rate quota (TRQ) available to countries without a Canada free trade agreement from 50% to 20% of 2024 import levels, and cut the TRQ for FTA partners outside CUSMA (i.e. not the US/Mexico) from 100% to 75% of 2024 levels; imports above quota face a 50% surtax. A new 25% tariff on the full value of listed steel-derivative products (doors, windows, fasteners, structural components and related goods) applies to all countries, covering an estimated CAD 10 billion+ of derivative imports. For softwood lumber, Canada added CAD 500 million to the BDC Softwood Lumber Guarantee Program (bringing it to CAD 1.2 billion) and earmarked a further CAD 500 million under the Large Enterprise Tariff Loan facility for lumber-sector liquidity support.
On 13 November 2025, the United States and the Republic of Korea released a Joint Fact Sheet reaffirming the July 2025 announcement of the Korea Strategic Trade and Investment Deal — the first standalone US-Korea trade-and-investment agreement since the 2012 KORUS FTA. USTR issued the implementing Federal Register notice (90 FR 55964, Notice 2025-21940) on 3 December 2025, effective 4 December 2025, with retroactive HTSUS application to 1 November 2025 for autos and auto parts and to 14 November 2025 for reciprocal-tariff goods, timber, lumber, derivatives, and certain aircraft and aircraft parts. On the US tariff side: (i) the country-specific IEEPA reciprocal tariff on Korean originating goods is set at the higher of the KORUS FTA / MFN rate or 15% (parallel to the Japan and EU framework deals); (ii) the Section 232 tariffs on autos, auto parts, timber, lumber and wood derivatives are reduced to 15% (no incremental duty when the pre-existing KORUS/MFN rate already meets or exceeds 15%); (iii) Korean exports of qualifying goods on the Potential Tariff Adjustments for Aligned Partners (PTAAP) list are exempt from reciprocal tariffs (covering generic pharmaceuticals and unavailable natural resources); (iv) Section 232 pharmaceuticals capped at 15%; semiconductors granted MFN-style "no less favourable" treatment in any future sectoral deal. On the investment side, Korea commits to a USD 350bn package: USD 150bn into US shipbuilding ("Approved Investments") plus USD 200bn into US strategic industries via a separate Strategic Investments MOU, with annual currency-funding cap of USD 20bn. Non-tariff commitments include streamlined US biotech approvals on the Korean side, US meat and cheese market access, fair treatment for US digital services, removal of Korea's 50,000-unit cap on US vehicles meeting FMVSS, and joint WTO support for the moratorium on customs duties on electronic transmissions.
On 5 February 2026, USTR Ambassador Jamieson Greer and Argentine Foreign Minister Pablo Quirno signed in Washington the United States-Argentina Agreement on Reciprocal Trade and Investment (ARTI), formalising the framework jointly announced on 13 November 2025. The agreement is the first standalone bilateral trade-and-investment instrument concluded by the second Trump administration and the first FTA-style agreement signed under the post-IEEPA reciprocal-tariff architecture (Executive Order 14257, "Liberation Day"). On the US side, the ARTI sets out three tariff schedules: (i) Schedule 2A suspends additional reciprocal tariffs under EO 14257 for specified Argentine-origin goods (covering "unavailable natural resources" and non-patented pharmaceutical inputs); (ii) Schedule 2B grants a zero additional reciprocal tariff for designated Argentine agricultural products under EO 14360; and (iii) caps additional ad-valorem duties on other goods at 10% above MFN rates, inclusive of IEEPA reciprocal tariffs. On the Argentine side, illustrative tariff-rate quotas include duty-free access for 80,000 MT of US beef in calendar year 2026, 1,000 MT for cheese, 870 MT for almonds, 40 MT in-shell + 40 MT shelled for pistachios, 80,000 litres for wine (<2 L bottles), and preferential treatment for 10,000 motor vehicles meeting defined technical parameters. Argentina additionally commits to broader preferential market access on medicines, chemicals, machinery, information-technology products, medical devices, and a wide range of agricultural goods, alongside IP-enforcement upgrades (counterfeit/pirated-goods enforcement, patentability criteria, patent-backlog reduction, geographical indications) and investment-facilitation commitments that align Argentina's regime with US-preferred standards on regulatory cooperation, labour and environment.
On 10 November 2025 the Mexican government published a decree in the Diario Oficial de la Federación (DOF) modifying the Tarifa de la Ley de los Impuestos Generales de Importación y de Exportación (LIGIE) to raise most-favoured-nation import tariffs on sugar and sugar-derivative products (raw, refined, liquid and invert sugar, and related high-sugar-content goods across roughly eight six-digit tariff subheadings) to between 156% and 210.44% ad valorem, replacing the prior specific-duty regime of USD 0.33–0.39 per kilogram. The decree entered into force 11 November 2025, the day after publication, and applies to imports from WTO members that lack a preferential trade agreement with Mexico. The Secretaría de Economía framed the increase as protection for the domestic sugarcane agro-industry against a national oversupply and falling international reference prices.
At the APEC Busan summit on 30 October 2025, Presidents Trump and Xi reached the "Economic and Trade Arrangement Between the United States and the People's Republic of China," subsequently implemented on the US side by the executive order "Modifying Reciprocal Tariff Rates Consistent with the Economic and Trade Arrangement" (issued 4 November 2025; effective 12:01 am EST on 10 November 2025; published in the Federal Register on 7 November 2025 as 90 FR 50729 / 2025-19826) and on the Chinese side by a series of MOFCOM and State Council Tariff Commission announcements (notably MOFCOM 2025 No. 90 of 8–9 November 2025). The arrangement is structurally parallel to the already-filed US-Japan, US-Korea and US-Taiwan framework deals but uniquely material because it freezes the highest-stakes bilateral tariff and export-control confrontation of the post-2024 reset. Core US commitments: (i) reciprocal-tariff "additional ad valorem rate of duty" on PRC-origin goods reduced from a prior 20% IEEPA-fentanyl + 10% IEEPA-reciprocal stack to a 10% rate (i.e., the prior 24% / 34% scheduled escalation is suspended), extended through 10 November 2026; (ii) US BIS suspends the so-called "affiliates rule" expanding entity-list controls to majority-owned subsidiaries of listed Chinese firms; (iii) USTR pauses Section 301 maritime / shipbuilding / logistics countermeasures against Chinese vessels for one year. Core PRC commitments: (i) MOFCOM suspends for one year (until 10 November 2026) the 9 October 2025 extraterritorial rare-earth export-control package — including controls on REE processing equipment, lithium-battery manufacturing equipment, and superhard materials; (ii) PRC suspends retaliatory tariffs on a broad swath of US agricultural products through 31 December 2026; (iii) commitment to purchase ≥25 million metric tonnes of US soybeans annually in 2026-2028 and to resume sorghum and log imports; (iv) suspension of MOFCOM antitrust and "unreliable-entity" probes against named US semiconductor and chip-equipment companies; (v) cooperation on fentanyl precursor enforcement. The arrangement does not repeal underlying authorities (IEEPA tariffs, MOFCOM export-control list, Entity List) — it is a calibrated mutual freeze with a one-year sunset and quarterly review checkpoints.
President Trump signed Proclamation 10984 "Adjusting Imports of Medium- and Heavy-Duty Vehicles, Medium- and Heavy-Duty Vehicle Parts, and Buses Into the United States" on 17 October 2025, invoking Section 232 of the Trade Expansion Act of 1962 to impose a 25% ad valorem tariff on imports of Class 3 to Class 8 medium- and heavy-duty trucks (large pick-up trucks, moving trucks, cargo trucks, dump trucks, tractors) and on key MHDV parts, and a 10% ad valorem tariff on buses and other vehicles classified in HTSUS heading 8702. Duties take effect at 12:01 a.m. EDT on 1 November 2025 (Federal Register doc 2025-19639, 90 FR 48451, published 22 October 2025). USMCA-qualifying MHDVs are tariffed only on the value of non-U.S. content; the proclamation also establishes an offset programme for MHDV parts equal to 3.75% of the aggregate value of all MHDVs assembled in the United States from 2025 through 2030, mirroring the Proclamation 10925 light-vehicle offset architecture.
On 26 June 2026 the Canadian International Trade Tribunal (CITT) issued a final injury finding in Inquiry NQ-2025-008, determining that dumped and subsidized imports of thermoformed molded fibre tableware from China have caused material injury to the Canadian domestic industry. Final anti-dumping duties ranging from 81.7% to 332.4% of export price, plus countervailing (subsidy) duties ranging from 0.5% to 18.9%, are now collected by the Canada Border Services Agency (CBSA) on goods released on or after 26 June 2026. The case originated from a complaint by CKF Inc. (Hantsport, Nova Scotia).
President Trump signed "Adjusting Imports of Timber, Lumber, and their Derivative Products into the United States" on 29 September 2025 invoking Section 232 of the Trade Expansion Act of 1962 (19 U.S.C. § 1862), following a Section 232 investigation initiated 1 March 2025 and a Commerce report transmitted 1 July 2025 that found wood- product imports threaten US national security. The proclamation imposes a 10% ad valorem global tariff on imports of softwood timber and lumber, a 25% global tariff on upholstered wooden furniture, and a 25% global tariff on kitchen cabinets and bathroom vanities, effective 12:01 a.m. EDT 14 October 2025 (Federal Register doc 2025-19482, published 6 October 2025). The upholstered-furniture rate was scheduled to step up to 30% and the cabinet/vanity rate to 50% on 1 January 2026; both step-ups were postponed to 1 January 2027 by a 31 December 2025 amendment proclamation. EU and Japan rates are capped at 15% and UK rates at 10% under bilateral framework deals. This is the first wood/forest-products Section 232 instrument in US history.
Presidential Decree (Cumhurbaşkanı Kararı) No. 10436, published in the Resmi Gazete on 22 September 2025, amends Türkiye's Import Regime Decision and the Additional Customs Duty Decision to standardise additional customs duty on passenger-vehicle imports (HS 8703) from all countries other than the ~24 FTA/customs-union partners (EU member states, South Korea, UK, Qatar and others). Rates are set at 25% or a minimum of USD 6,000/unit for conventional and non-plug-in hybrid vehicles, 30% or a minimum of USD 7,000/unit for plug-in hybrids, and 30% or a minimum of USD 8,500/unit for battery-electric vehicles. The decree enters into force 60 days after publication (21 November 2025), with a 30-day transition window in which declarations registered under the prior (lower or absent) duty regime are grandfathered.
Turkish port authorities began requiring shipping agents to certify, from 21 August 2025, that vessels calling at Turkish ports have no Israeli ownership or agency ties and carry no military or hazardous cargo destined for Israel; Israeli-flagged or Israeli-linked ships were barred from Turkish ports outright, and Turkish-flagged vessels were barred from calling at Israeli ports. Foreign Minister Hakan Fidan confirmed and formalised the measures — alongside a parallel closure of Turkish airspace to Israeli government/military flights — in an extraordinary session of the Grand National Assembly (TBMM) on 29 August 2025, stating Türkiye had "completely cut off trade with Israel." The measure operationalises and tightens enforcement of Türkiye's broader Israel trade suspension (in place since May 2024) by closing the maritime transshipment channel that had allowed indirect trade to continue.
President Trump signed Executive Order 14323, "Addressing Threats to the United States by the Government of Brazil," on 30 July 2025 (published in the Federal Register on 5 August 2025 as FR doc 2025-14896). Invoking IEEPA and the National Emergencies Act, the order declared a country- specific national emergency citing "policies, practices, and actions" of the Lula government — including the criminal prosecution of former president Jair Bolsonaro, asserted infringement of the free-expression rights of US persons via DSA-style platform-content rules, and retaliatory measures targeting US digital firms — as constituting an "unusual and extraordinary threat" to US national security, foreign policy, and economy. The EO imposed a 40% additional ad valorem duty on Brazilian-origin goods effective for entries on or after 12:01 a.m. EDT on 6 August 2025; stacked on top of the 10% baseline reciprocal rate from EO 14257/14326, the cumulative rate reached 50% for non- exempt goods. Annex I exempted civil aircraft and parts, orange juice, certain machinery, certain metals, and energy/energy products. The EO was amended on 20 November 2025 (effective for entries on or after 13 November 2025) to exempt 238+ HTSUS codes for agricultural products (beef, tropical produce, nuts, coffee, cocoa, cassava derivatives, etc.) following initial Trump-Lula bilateral negotiations on 6 October 2025. The IEEPA-tariff component was terminated by EO of 20 February 2026 ("Ending Certain Tariff Actions") within hours of the SCOTUS 6-3 ruling in *Learning Resources, Inc. v. Trump* holding that IEEPA does not authorize the imposition of tariffs.
President Trump signed Executive Order 14324, "Suspending Duty-Free De Minimis Treatment for All Countries," on 30 July 2025 (published in the Federal Register on 5 August 2025 as FR doc 2025-14897, 90 FR 37775). The order eliminated the Section 321(a)(2)(C) administrative exemption that had allowed shipments valued at $800 or less to enter the United States duty-free, applying the suspension to all countries of origin rather than the China/Hong Kong-only carve-out imposed earlier in 2025. DHS/CBP published a Notice of Implementation on 2 September 2025 (FR doc 2025-16802) modifying the Harmonized Tariff Schedule so that covered low-value goods must be entered via formal or informal ACE entry types and pay applicable duties; goods shipped through the international postal network were instead made subject to a new flat ad valorem or specific per-item duty rate set by HTSUS annex. The suspension took effect for entries on or after 12:01 a.m. EDT on 29 August 2025. A DHS/CBP rule published 24 June 2026 (FR doc 2026-12670) converted the non-postal suspension from time-limited to indefinite and closed the remaining international-postal-network exemption to formal/ informal entry procedures as well.
President Trump signed Proclamation 10962 on 30 July 2025, imposing a 50% Section 232 tariff on imports of semi-finished copper products (pipes, wires, rods, sheets, tubes, foils) and copper-intensive derivative products (cables, connectors, electrical components, pipe fittings) effective 12:01 a.m. ET on 1 August 2025. The proclamation also authorises the Commerce Secretary to impose a 25% domestic-sales requirement and export controls on high-quality copper scrap, and lays out a phased schedule for refined-copper tariffs (15% from 1 Jan 2027, 30% from 1 Jan 2028) contingent on a Commerce review report due 30 June 2026. Copper input materials (ores, concentrates, cathodes, anodes) and copper scrap itself are exempt from the 50% tariff. The original 90-day "inclusions" process for expanding the derivative list was terminated by a follow-on April 2026 proclamation that consolidated authority with Commerce + USTR.
Mexico's tax authority (SAT), acting under SHCP, published the Cuarta Resolución de Modificaciones a las Reglas Generales de Comercio Exterior para 2025 in the Diario Oficial de la Federación on 28 July 2025, raising the flat tax rate applied under the simplified customs regime for low-value courier and parcel shipments (goods valued at USD 2,500 or less) from 19% to 33.5%, effective 15 August 2025. The increase applies to shipments from countries without a free trade agreement with Mexico — in practice overwhelmingly China-origin goods — and is aimed at cross-border e-commerce platforms (Shein, Temu, AliExpress) as well as triangulated goods routed through courier channels by other importers including large retailers. The measure is framed by SHCP as combating under-invoicing and non-tariff-preference triangulation via the courier de minimis channel.
On 27 July 2025, President Trump and European Commission President Ursula von der Leyen reached political agreement at Turnberry, Scotland, on a Framework Agreement on Reciprocal, Fair and Balanced Trade. The framework was formalised in a Joint Statement published on 21 August 2025 by the White House and DG TRADE. The deal establishes a 15% all-inclusive (MFN + Section 232) US tariff ceiling on the vast majority of EU originating goods — including autos, pharmaceuticals, semiconductors, lumber, and chemicals — replacing the threatened 20-30% reciprocal tariff trajectory under EO 14257 (April 2025). Steel and aluminium are excluded from the 15% ceiling and remain at the 50% Section 232 rate pending negotiation of a quota solution. In return, the EU commits to: (i) eliminate tariffs on all US industrial goods, (ii) preferential market access for a wide range of US agricultural and seafood products, (iii) suspension of its rebalancing countermeasures under Reg 2025/778 (suspension effective 7 August 2025), (iv) expected energy offtake of $750bn (LNG, oil, nuclear) through 2028, (v) at least $40bn in US AI chip purchases, and (vi) facilitation of $600bn in additional EU corporate investment into the US through 2028. Effective from 1 September 2025, the US applies MFN-only treatment (no 15% top-up) to: aircraft and parts, generic pharmaceuticals and ingredients, chemical precursors, cork, and certain unavailable natural resources. The framework is not legally binding but anchors the bilateral architecture; it is the largest-economy ART-programme deal alongside US-UK, US-Japan, US-Korea, US-Taiwan, and US-Indonesia.
Commission Implementing Regulation (EU) 2025/1564 of 24 July 2025 is the EU's largest-ever trade countermeasure package: additional customs duties on approximately €93 billion of US-origin goods (Annexes I–XIII) plus an export prohibition on specified EU products to the United States (Annex XIV), adopted under Regulation (EU) No 654/2014 (the EU commercial-policy enforcement regulation) in response to the second Trump administration's Section 232 reinstatement and automobile tariffs. The regulation supersedes and repeals Commission Implementing Regulation (EU) 2025/778 and three earlier rebalancing CIRs. Application was suspended from 5 August 2025 following the EU-US trade framework agreement of 27 July 2025; the suspension was extended by a further six months from 4 February 2026. CIR 2025/1564 remains in force as a conditionally-reinstateable rebalancing framework while negotiations continue.
On 6 February 2026 the Canadian International Trade Tribunal (CITT) found that dumped and subsidized imports of cast iron soil pipe from China have caused material injury to the Canadian domestic industry, triggering collection of definitive duties by the Canada Border Services Agency (CBSA). Final anti-dumping duties range from 155.5% to 444.2% of export price by exporter (444.2% for all other exporters), and a flat countervailing (subsidy) duty of 28.5% of export price (equivalent to CNY 1,550.44 per metric tonne) applies to all Chinese exporters. CBSA had initiated the dumping and subsidizing investigation on 11 July 2025 following a complaint from Canada Pipe Company ULC, d.b.a. Bibby-Ste-Croix (Sainte-Croix, Québec), and imposed provisional duties from 9 October 2025 pending the final determination and injury finding.
The European Commission adopted Commission Implementing Regulation (EU) 2025/1197 on 19 June 2025, published in the Official Journal on 20 June 2025 and applicable from 30 June 2025. It imposes the EU's first-ever International Procurement Instrument (IPI) measure, excluding tenders submitted by economic operators originating in China from EU public procurement contracts for medical devices (CPV codes 33100000-1 to 33199000-1) valued at EUR 5,000,000 or more net of VAT. Even where a non-Chinese bidder wins, no more than 50% of the contract's value may be sourced from China-origin medical devices (IPI Article 8(1)). Contracting authorities may waive the measure only where solely Chinese bidders meet requirements or for overriding public-interest reasons (IPI Article 9(1)).
Regulation (EU) 2025/1227, published 20 June 2025, imposes an additional 50% ad valorem customs duty on top of the standard Common Customs Tariff rate on roughly 101 tariff lines of agricultural products originating in or exported from Russia or Belarus, closing the remaining gap in the agri-tariff regime first opened in 2024. Fertilisers from the two countries face a separate, gradually escalating specific duty — starting around EUR 40-45 per tonne on top of the existing 6.5% ad valorem rate for the 2025-26 period, rising in annual steps to EUR 430 per tonne by 2028. The measure enters into force 1 July 2025 and is explicitly framed by the Council and Parliament as a further squeeze on Russian export revenue used to fund the war against Ukraine, extending the July 2024 agri-tariff regulation (EU) 2024/1392 to cover the products it left out.
The US Department of Commerce preliminarily determined that countervailable subsidies are being provided to producers and exporters of silicon metal from Laos, Australia, Norway, and Thailand, publishing four parallel preliminary affirmative CVD determinations on 2025-09-26 following an initiation on 2025-05-21 (petition by Ferroglobe USA, Inc. and Mississippi Silicon LLC). For Laos, Commerce set a preliminary countervailable-subsidy cash-deposit rate of 240.00% ad valorem for both the sole mandatory respondent, Lao Silicon Co., Ltd., and the all-others rate, based entirely on adverse facts available after finding the respondent did not cooperate. Companion CVD investigations against Australia, Norway, and Thailand were found affirmative the same day, each with its own preliminary subsidy-rate cash-deposit schedule. Commerce ordered CBP to suspend liquidation and require cash deposits at the indicated rates on covered entries from the Laos determination onward. Final CVD determinations are aligned with companion antidumping investigations on the same product.
The US Department of Commerce, following affirmative final less-than-fair-value determinations and an affirmative material-injury finding by the US International Trade Commission, issued antidumping duty orders on silicon metal from Angola and Laos, effective 2026-04-16. Commerce set a 68.45% ad valorem weighted-average dumping margin for Angola (both named respondents and the all-others rate) and a 94.44% margin for Laos, both based entirely on adverse facts available after the respondents did not cooperate with the investigation. The orders stem from an April 2025 petition by Ferroglobe USA, Inc. and companion less-than-fair-value investigations initiated 2025-05-21 that also covered Australia and Norway, where preliminary and final LTFV determinations followed on a later schedule.
On 10–11 May 2025 in Geneva, US Treasury Secretary Scott Bessent and USTR Jamieson Greer met with PRC Vice Premier He Lifeng and on 12 May 2025 issued the "Joint Statement on US-China Economic and Trade Meeting in Geneva," producing the first bilateral de-escalation of the post-2 April 2025 reciprocal-tariff stand-off. The agreement was implemented on the US side via Executive Order 14298 of 12 May 2025 ("Modifying Reciprocal Tariff Rates To Reflect Discussions With the People's Republic of China," published in the Federal Register 21 May 2025 as 90 FR 21831 / 2025-09297) and on the Chinese side via State Council Tariff Commission Announcement No. 4 of 2025. Effective 12:01 a.m. EDT on 14 May 2025, both sides suspended for 90 days (through 12 August 2025) the 24 percentage points of additional ad valorem duty layered on top of the prior 10% reciprocal rate, while the 10% reciprocal rate itself was retained. On the US side this reduced the headline reciprocal-tariff burden on PRC-origin goods from a 125% scheduled rate (under EOs 14259 and 14266) to 10%; combined with the still-in-force 20% IEEPA-fentanyl tariff under Executive Order 14195 (separately filed: `2025-02-01-us-trump-fentanyl-tariffs-canada-mexico-china`), the effective additional rate on most Chinese imports came down to ~30%. China made a parallel 24pp suspension on US-origin goods (from a 125% retaliatory rate to 10%) and additionally suspended non-tariff countermeasures imposed since 2 April 2025 (export controls, unreliable-entity designations, MOFCOM probes). The truce is structurally a calibrated freeze of the reciprocal-tariff ladder under the April 2025 regime, not a repeal: the underlying EO 14257 / IEEPA framework remains intact and was scheduled to re-engage at the 24pp escalated rate on 12 August 2025 absent further extension. The Geneva agreement is the precursor to the August 2025 Stockholm extension and the October 2025 Busan Economic and Trade Arrangement (separately filed: `2025-10-30-us-china-busan-economic-trade-arrangement`).
On 11 April 2025, President Luiz Inácio Lula da Silva sanctioned without vetoes Lei nº 15.122/2025 ("Lei da Reciprocidade Econômica"), published in the Diário Oficial da União on 14 April 2025 and effective the next business day. The statute — Brazil's first standalone economic-retaliation framework — empowers the Executive to suspend (i) trade concessions on imports of goods and services, (ii) intellectual-property rights and obligations under Lei 12.270/2010, and (iii) concessions or commitments assumed under trade agreements, as countermeasures against unilateral measures by individual countries or economic blocs that negatively impact Brazilian international competitiveness, including environmental requirements stricter than Brazil's own. Decreto nº 12.551 of 14 July 2025 (DOU 15 July 2025) regulates the law, creating the Comitê Interministerial de Negociação e Contramedidas Econômicas e Comerciais (CINCEC), chaired by MDIC with seats for Casa Civil, Fazenda and Itamaraty (Relações Exteriores), and establishes both a fast-track provisional countermeasure procedure (CINCEC-only) and an ordinary track (≥5 months) routed through SE-CAMEX, GECEX, the CAMEX Strategic Council and a 30-day public consultation.
President Trump signed Executive Order 14257 on 2 April 2025 declaring a national emergency over US trade deficits and imposing a baseline 10% ad-valorem tariff on imports from nearly all trading partners effective 5 April, with higher country-specific "reciprocal" rates effective 9 April. The rate schedule was constructed from a formula tied to bilateral goods-trade deficits and ranged from 10% (UK, Singapore, Brazil, Australia, others) through 20% (EU), 24% (Japan), 25% (Korea), 32% (Taiwan, Indonesia, Switzerland), 34% (China, later raised to 84% then 125% during the April escalation), 46% (Vietnam), 49% (Cambodia). Multiple subsequent EOs paused the country-specific rates for 90 days for non-China destinations on 9 April while keeping the 10% baseline, pending bilateral negotiations.
President Trump signed Proclamation 10908 "Adjusting Imports of Automobiles and Automobile Parts Into the United States" on 26 March 2025, invoking Section 232 of the Trade Expansion Act of 1962 to impose a 25% ad valorem tariff on imports of finished passenger vehicles and light trucks effective 12:01 a.m. EDT on 3 April 2025, with the duty extended to key automobile parts (engines and engine parts, transmissions and powertrain components, electrical components) effective 12:01 a.m. EDT on 3 May 2025. USMCA-origin automobiles receive an interim deduction equal to the value of US-origin content; USMCA-origin parts that satisfy the agreement's rules of origin are temporarily exempt from the parts duty pending a Commerce-administered process. The proclamation is the first Section 232 instrument applied to finished automobiles in US history and the largest-by-trade-volume Section 232 measure of the second Trump administration, covering roughly USD 460 billion of annual auto and auto-parts imports.
Sri Lanka Customs published the National Imports Tariff Guide (NITG) 2025 with operative effect from 1 January 2025, releasing the consolidated preamble and chapter schedules during March 2025. The NITG is Sri Lanka's annual canonical import-regime instrument: it codifies the Customs Import Duty (CID) schedule together with the four principal para-tariffs — Ports and Airports Development Levy (PAL) under Act No. 18 of 2011, Export Development Board (EDB) Cess under Act No. 40 of 1979, Special Commodity Levy (SCL) under Act No. 48 of 2007, and Excise (Special Provisions) Duty — alongside Value Added Tax and the Social Security Contribution Levy (SSCL). For 2025 the NITG carries forward the para-tariff rationalisation programme initiated under the IMF Extended Fund Facility (March 2023 – 2027), with the preamble's exemption lists for PAL, CESS, SCL and VAT serving as the operational rulebook for trading partners and importers across the entire HS schedule.
President Trump signed two Presidential Proclamations on 11 February 2025 reinstating a universal 25% ad-valorem tariff on all steel-mill products and raising the aluminum tariff from 10% to 25% on all imports into the United States, effective 12 March 2025. The proclamations revoked every bilateral exclusion and quota arrangement negotiated by the Biden administration with the EU, UK, Japan, Korea, Australia, and others under the 2021-2022 "alternative measures" frameworks, returning all trading partners to the baseline Section 232 rate without product-level or country-level carve-outs.
President Trump signed three Executive Orders on 1 February 2025 (EO 14193, 14194, 14195) declaring national emergencies under IEEPA over the cross-border flow of fentanyl + illegal migration, and using that authority to impose new tariffs: 25% on imports from Canada (with a reduced 10% rate on Canadian energy products), 25% on imports from Mexico, and an additional 10% on imports from China (separate from pre-existing Section 301 + Section 232 tariffs). The tariffs took effect 4 February 2025. On 3 February 2025 the administration announced a 30-day pause for both Canada and Mexico following bilateral border-enforcement commitments; the China tariff was not paused. China responded 4 February with retaliatory tariffs of 15% on US LNG/coal/farm equipment and additional measures. The package set the precedent for the broader 2 April 2025 "Liberation Day" reciprocal-tariff regime (filed: 2025-04-02-us-trump-reciprocal-tariff-regime).
Decree 38/2025 reduces Argentina's agricultural export duties (retenciones) across all major grains and oilseeds effective January 27, 2025, through June 30, 2025. Soybean duties fall from 33% to 26%, soy products from 31% to 24.5%, wheat/maize/barley/sorghum from 12% to 9.5%, and sunflower seed from 7% to 5.5%; regional-economy commodities including sugar, cotton, and rice receive a permanent zero-duty rate. The measures are designed to accelerate foreign exchange liquidation by improving exporter margins under the Milei administration's macroeconomic stabilisation program, and represent the most market-significant single Argentine agricultural trade action of 2025-Q1.
China's Ministry of Commerce issued Announcement 2025 No. 3 on 9 January 2025, the Final Determination of its Trade and Investment Barrier (TIB) investigation into the European Commission's enforcement practices under the EU Foreign Subsidies Regulation (FSR). MOFCOM concluded that EC practices in FSR investigations targeting Chinese enterprises in rail transport, photovoltaics, wind energy, and security-equipment public procurement constitute trade and investment barriers under Article 3 of China's Rules on Trade and Investment Barrier Investigations (对外贸易壁垒调查规则). The determination documents €20.88 billion in estimated economic losses — including €10.18 billion from abandoned bids — and finds de-facto discrimination against Chinese SOEs relative to investors from other jurisdictions. MOFCOM committed to taking "necessary measures" including bilateral consultations, multilateral dispute settlement, or "other appropriate measures" to safeguard Chinese enterprises' legitimate rights and interests.