Autos

President Trump Issues Universal Reciprocal Tariff and Higher Individualized Rates for Certain Countries

On April 2, 2025, President Trump issued an Executive Order (“EO”) imposing a 10% universal tariff on imports from all countries (with certain exceptions) pursuant to the International Emergency Economic Powers Act of 1977 (“IEEPA”).  These tariffs will take effect at 12:01…

On April 2, 2025, President Trump published the Annex of automobiles and automobile parts subject to tariffs pursuant to Section 232 of the Trade Expansion Act of 1962.  This follows the President’s March 26, 2025 Proclamation announcing the forthcoming 25% tariffs on certain vehicles and related parts, which we previously reviewed here.  This Annex…