With the Trump Administration’s unprecedented use of Section 232 of the Trade Expansion Act of 1962 and Section 301 of the Trade Act of 1974 to impose tariffs, and the renegotiation of the North American Free Trade Agreement—now the United States-Mexico-Canada Agreement—it has been a tumultuous year for trade in the United States and globally.
The imposition of Section 232 and 301 tariffs, the ongoing Section 232 investigation into auto imports, and the reopening of trade agreements, among other developments, have created an increasingly complex trade landscape for U.S. businesses to navigate. While the real economic impact of these tariffs and current trade tensions may not be felt yet, they have already disrupted global supply chains, and added to the cost of doing business.
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