Cross Border Trade Updates
June 23, 2025
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- Domestic Legal Actions Against President Trump’s Tariffs
- On Tuesday, 17 June, the Court of International Trade paused two ongoing legal challenges to President Trump’s IEEPA tariffs. The pause will remain in effect until a final, unappealable decision is reached in the main appeal now before the U.S. Court of Appeals for the Federal Circuit, which may eventually be reviewed by the Supreme Court.
- On Friday, 20 June, the Supreme Court declined to hear the expedited argument of IEEPA tariffs.
- Actions at the World Trade Organization (WTO)
- On Monday, 23 June, the WTO agreed to China’s request for a panel regarding Canadian Tariffs on Chinese products.
- U.S. Tariff Negotiations
- Please see below for the latest as reported by the press on trade negotiations between the United States and countries seeking to reduce or avoid higher reciprocal tariffs on their goods.
- Canada: On Thursday, 19 June, Canadian Prime Minister Mark Carney announced that Canada will revise its countermeasures on U.S. steel and aluminum tariffs next month. The adjustments will align with the progress made in ongoing trade negotiations with Washington.
- EU: On Thursday, 19 June, reports indicate that European officials are increasingly resigned to a 10% rate on "reciprocal" tariffs being the baseline in any trade deal between the United States and the European Union. Additionally, it is reported that the U.S. and EU are close to finalizing a draft agreement on several nontariff trade issues. The draft agreement does not address proposed tariffs, including U.S. reciprocal tariffs set for 9 July or EU retaliatory tariffs set for 14 July.
- Korea: On Monday, 23 June, the Ministry of Trade, Industry and Energy said Trade Minister Yeo Han-koo will meet U.S. Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick “for discussions on U.S. tariff measures and mutually beneficial solutions”.
- Malaysia: On Sunday, 22 June, Malaysia’s Ministry of Investment, Trade and Industry said Malaysia and the US have agreed to finalize trade negotiations before the tariff reprieve expires.
- UK: On Monday, 16 June, the White House issued an executive order on “Implementing the general terms of the United States of America-United Kingdom Economic Prosperity Deal.”
- Japan: On Friday, 20 June, Japan's top trade negotiator, Ryosei Akazawa, said Japan won't fixate on the July 9 deadline for reciprocal tariffs to return to higher levels.
- Thailand: On Wednesday, 18 June, Thailand held trade talks with the United States and said the country plans to submit a proposal on Friday, 20 June.
- Vietnam: On Thursday night, 19 June, Vietnam and the United States held an online round of negotiations on a new trade deal. Topics discussed included U.S. reciprocal tariffs and the development of “practical and harmonious rules of origin”.
