Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 06 JULY 2026

Trump Tariff Tracker – July 2, 2026

Baker Botts L.L.P.
Baker Botts L.L.P.
Contributor
Baker Botts L.L.P.

Baker Botts L.L.P.

Baker Botts is a leading international law firm with 11 offices located in the US, Europe, and the...

View firm profile
Explore more from Baker Botts L.L.P.

The Trump Administration has declared it will not renew the United States-Mexico-Canada Agreement in its current form, signaling potential major changes to North American trade relations. This announcement raises critical questions about the future of trilateral commerce and the legal implications for businesses operating across these borders.

United StatesInternational Law
Matthew T. West
Matthew T. West

The Trump Administration has announced that it will not renew the USMCA in its current form. On Wednesday, following a virtual meeting with trade leaders from Mexico and Canada, United States Trade Representative Greer released a statement saying that the Trump Administration failed to reach an agreement with Canada and Mexico on the continuation of the USMCA. U.S. officials have indicated that the U.S. would continue bilateral talks with Canada and Mexico to resolve specific issues. The announcement by USTR Greer does not immediately end the USMCA, but rather it enters annual reviews for up to 10 years. If in that time no agreement to extend is reached, it will expire in July 2036. It is possible President Trump could formally withdraw from the USMCA, but doing so would likely require Congressional approval. Given the potential impact on the U.S. economy, formal withdrawal is seen as an unlikely option.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

See more popular content from

Article

The Lindsey Graham Sanctions Act: What Businesses Need To Know About The New Tariffs

President Trump signed the Lindsey O. Graham Sanctioning Russia and Iran Act into law on September 18, 2026, establishing mandatory tariffs of up to 500% on Russian goods and up to 100% on goods from countries that continue to buy Russian energy. The Act targets major importers like China, India, and Turkey, with limited relief mechanisms including natural gas exceptions, presidential waivers, and a 270-day winddown period for entities divesting from Russian operations.
GlobalInternational Law
Crowell & Moring LLP
Crowell & Moring LLP
Article

U.S.-China Trade Truce Extended Two Months: BIS Affiliates Rule Suspension Follows

The U.S.-China trade truce has been extended through January 10, 2027, pushing back the effective date of the Bureau of Industry and Security's Affiliates Rule. While the suspension delays immediate compliance obligations, the rule remains in place and companies should use this additional time to prepare their compliance programs before the suspension potentially expires.
GlobalInternational Law
Crowell & Moring LLP
Crowell & Moring LLP
Article

Updates On Export Controls Impacting AI & Advanced Computing

The U.S. Department of Commerce's Bureau of Industry and Security issued guidance on May 31, 2026, clarifying licensing requirements for advanced computing items and AI technologies. The guidance maintains export restrictions for entities in certain countries while providing limited relief for data center operators, though questions remain about future regulatory direction. Companies must now strengthen their compliance programs and supply-chain due diligence as BIS continues to prioritize national security
GlobalInternational Law
Finnegan, Henderson, Farabow, Garrett & Dunner LLP
Finnegan, Henderson, Farabow, Garrett & Dunner LLP
Article

Update On CAPE Phase 3 Duty Refunds From U.S. Customs And Border Protection

U.S. Customs and Border Protection has announced that importers with court orders for IEEPA duty refunds on finally liquidated entries can begin filing for those refunds starting October 6, 2026, through the CAPE Phase 3 system. This development follows the Supreme Court's February 2026 decision striking down IEEPA tariffs and represents a critical step for importers seeking refunds on entries liquidated for more than 80 days.
United StatesInternational Law
Buchanan Ingersoll & Rooney
Buchanan Ingersoll & Rooney
Article

Booking Holdings v. Commission: General Court Clears The Way For Reverse Leveraging

The General Court of the European Union has upheld the European Commission's prohibition of Booking Holdings' acquisition of eTraveli Group, endorsing for the first time a 'reverse leveraging' theory of harm in conglomerate mergers. This landmark judgment establishes that dominant companies can be blocked from acquiring complementary businesses even when the target operates in a market where the acquirer lacks dominance, fundamentally reshaping merger control enforcement in digital and ecosystem-driven mark
United StatesAntitrust/Competition Law
Baker Botts L.L.P.
Baker Botts L.L.P.