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Council Agrees Position to Streamline Artificial Intelligence Rules

The Council of the EU has agreed its position on a proposal to streamline rules for artificial intelligence (AI) systems. Key amendments include a prohibition on AI generating non-consensual intimate content and revised timelines for high-risk AI systems, with new application dates set for late 2027 and mid-2028.

Humanitarian Assistance Exception Notification for Petroleum Products

The UK's Office of Financial Sanctions Implementation (OFSI) has released guidance and a notification form for 'relevant persons' to report the use of a humanitarian assistance exception related to petroleum products for Syria. This exception, under the Syria (Sanctions) (EU Exit) Regulations 2019, requires notification by the end of the calendar year in which activities take place.

US Drafts AI Chip Export Controls

The US is reportedly drafting new export control regulations for AI chips, which would implement a tiered licensing system based on computing power. These draft rules aim to position the US as a gatekeeper for the global AI industry and could impose significant pre-clearance requirements for high-volume exports.

USTR Launches Section 301 Investigations on Forced Labor Imports

The Office of the U.S. Trade Representative (USTR) has initiated Section 301 investigations into 60 major trading partners to determine if they are effectively banning imports of goods produced with forced labor. The USTR is seeking public comment and will hold hearings on the matter.

Canada Updates List of U.S. Products Subject to Counter Tariffs

The Government of Canada has updated its list of U.S. products subject to counter tariffs, effective September 1, 2025. Most counter tariffs have been removed, except for those on steel, aluminum, and autos, as negotiations with the U.S. continue.

Canada Launches Measures to Protect Strategic Industries

Prime Minister Mark Carney announced new measures to protect Canadian strategic industries impacted by U.S. trade disruptions. Key initiatives include a $5 billion Strategic Response Fund, a new Buy Canadian Policy, and support for workers and specific sectors like agriculture.

Prime Minister Statement on Canada-US Trade and US Policy

The Prime Minister of Canada announced that Canada will remove all of its tariffs on U.S. goods specifically covered under the Canada-United States-Mexico Agreement (CUSMA). This action is a response to evolving U.S. trade policies and aims to preserve Canada's trade advantage. The change will take effect on September 1, 2025.

Canada Amends and Repeals US Surtax Orders

The Governor General in Council of Canada has amended and repealed certain orders related to the United States Surtax under the Customs Tariff. These changes modify the application and scope of surtaxes on goods originating from the United States, impacting specific tariff items.

Delaware Proposes Cigarette and Vapor Tax Increases

Delaware's Governor has proposed significant increases to cigarette, vapor, and other tobacco product taxes. The cigarette tax would rise by over 70%, and vapor product taxes would double, aiming to generate an estimated $18.9 million in new state revenue.

New Mexico SB 151 Decouples from Full Expensing

New Mexico SB 151, passed by the legislature, decouples the state from federal full expensing provisions for machinery and equipment, and includes foreign earnings in the corporate tax base. This change is expected to negatively impact the state's corporate tax environment.