Welcome to your month-end Update!

Posted 2/28/25

Here's an update on Staffing and Enforcement developments, coming fast and furious with Trump 2.0.

Our companion Washington Tariff & Trade Letter provides a weekly digest and analysis of Trade Security topics, as well as a deeper discussion of Tariffs, which are of growing interest to all practitioners.

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April 2025 Export Practitioner

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Recent stories

CFIUS and America First: Faulkender Speech

Deputy Secretary of the Treasury Michael Faulkender emphasized the Trump Administration’s commitment to balancing foreign investment with national security at the American Conference Institute’s CFIUS Conference Thursday April 24, , detailing the Administration’s initiatives under the newly issued “America First Investment Policy.”

IMF Slashes Growth Forecast

The International Monetary Fund (IMF) on Tuesday slashed its global growth forecast for 2025 to 2.8%, down from 3.3% in January, citing a sharp rise in tariffs and growing policy uncertainty. The United States faces one of the steepest revisions, with growth now projected at 1.8%, compared to a previous estimate of 2.7%.

Bessent says chill, re-center

U.S. Treasury Secretary Scott Bessent told investors at a closed-door JPMorgan Chase summit Tuesday that the ongoing trade conflict between the United States and China is “unsustainable,” and indicated that both sides would need to find ways to de-escalate. In a speech the next day Bessent called for a "recentering" of the missions of the IMF and World Bank.

IEEPA Tariff FAQs Published

US Customs & Border Protection has published an FAQ page on the International Emergency Economic Powers Act (IEEPA) as it relates to tariffs.

Modern Slavery Enforcement

April has seen enforcement actions on Chinese work gloves, South Korean Sea Salt, and most recently a petition based on evidence of modern slavery in the Brazilian coffee industry.

Legal Challenges to IEEPA Tariffs Stack Up

As of April 25, 2025, seven lawsuits have been filed challenging President Trump’s imposition of tariffs under the International Emergency Economic Powers Act (IEEPA), a 1977 statute traditionally used for targeted economic sanctions.

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