Brooks Pierce partner Charles Baldwin authored an article for Global Trade Magazine, “The Changing Tariffs Landscape: What We Know, What We Think We Know, What We Don’t Know,” breaking down the fast-moving world of U.S. tariff policy.
The article discusses the Trump Administration’s sweeping tariffs, otherwise known as the “fentanyl tariffs,” that targeted China, Mexico, Canada, and the “reciprocal tariffs” applicable to other countries worldwide. These tariffs drove the average tariff rate on U.S. imports from 2.6% to 13% in 2025. American businesses and consumers ended up footing nearly 90% of that bill. The U.S. Supreme Court struck down the global tariffs imposed under the International Emergency Economic Powers Act (IEEPA), though the Administration quickly pivoted by issuing a new 10% worldwide surcharge under a different legal authority, set to expire July 24 unless Congress acts. It remains unclear how IEEPA tariff refunds will actually flow to the parties who bore the economic burden, and what ripple effects that will have. Businesses, importers and other parties engaged in international trade should monitor developments and stay close to their legal counsel, as the landscape continues to shift.
Baldwin uses his broad experience in cross-border transactions to advise businesses on international law, venture capital and transactional matters.
Click here to read the full article.