Tariff Talk Thursday is Back!
Visit our Events page for details or register here.
Tariff Talk Thursday is Back!
Visit our Events page for details or register here.
JUNE 5, 2025
International trade—particularly when importing into the U.S.—has long been complex, requiring expertise and constant vigilance to remain compliant. Regulations in this industry have always been more fluid than in most other sectors. However, the past few months have been especially challenging. We are witnessing an unprecedented level of change, reversals, and uncertainty—unlike anything we’ve seen in our lifetimes.
This turbulence is expected to continue, with new tariffs being introduced or modified with little warning and often accompanied by vague or unclear guidance. As a result, ocean and airfreight rates remain volatile, with spot rates now approaching the highs seen during the COVID-19 pandemic—just as we head into the traditional peak shipping season.
Commerce Secretary Howard Lutnick told Congress this week that “new export controls are protecting cutting-edge technologies and finally protecting critical industries and American innovation,” following the blacklisting of 12 additional parties for ties to the Chinese military. The department has also slowed license approvals to China over concerns about intellectual property transfer.
Meanwhile, China has been steadily tightening its own export controls, particularly on rare earth minerals. U.S. importers are reporting delays as new licenses are reviewed for materials such as gadolinium, lutetium, scandium, and yttrium—key components in electric vehicles, magnets, and consumer electronics. The EU is urging China to ease these restrictions as the impact is already being felt across global supply chains.
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