JD Supra Trade Law

Supreme Court Rules IEEPA Tariffs Invalid; Importers May Seek Refunds

The Supreme Court ruled that tariffs imposed under IEEPA are invalid, as the President lacks the authority to impose taxes. Importers who paid these tariffs may now seek refunds through various legal avenues, including actions in the Court of International Trade.

Trump Tariff Tracker: Section 122 Tariffs and Section 301 Investigations

This update tracks the Reclaim Trade Powers Act, challenges to Section 122 tariffs, and new Section 301 investigations by the USTR into excess manufacturing capacity and forced labor. Public comments are invited for these investigations.

EU Commission Proposes Industrial Accelerator Act

The EU Commission has proposed the Industrial Accelerator Act (IAA) to strengthen the EU's manufacturing industry. The act aims to increase manufacturing's share of EU GDP to 20% by 2035 by introducing 'Made in EU' criteria in public procurement and public support schemes, and establishing scrutiny for large foreign investments in strategic sectors.

USTR Probes 17 Countries for Excess Manufacturing Capacity

The Office of the U.S. Trade Representative (USTR) has initiated Section 301 investigations into 17 countries for structural excess manufacturing capacity and production. The probe aims to address potential unfair trade practices and could lead to the imposition of tariffs.

Supreme Court Ruling on IEEPA Tariffs Impacts Duty Refund Process

The Supreme Court has ruled against the use of the International Emergency Economic Powers Act (IEEPA) for enacting tariffs. While the ruling entitles importers to refunds, a specific process is still being developed by U.S. Customs and Border Protection (CBP) and the Court of International Trade (CIT). CBP is working on an ACE functionality to streamline refunds, with a target deployment in 45 days.

Third-Party Arbitration Funding: Turmoil and Growth in 2025

A March 2026 article discusses the turbulent year for third-party arbitration funding in 2025, noting industry consolidation and a significant fraud suit. Despite challenges, the sector saw continued international arbitration claims, with 7% of new ICSID cases in 2025 involving funders.

EU Proposes Industrial Accelerator Act with "Made in EU" Requirements

The European Commission has proposed the Industrial Accelerator Act (IAA) to bolster the EU's industrial base and boost demand for EU-manufactured products. The act introduces "Made in EU" requirements across strategic sectors, aiming to reduce dependencies and increase manufacturing's share of EU GDP.

Yukos Enforcement: ICSID vs. New York Convention Award Approaches in England

The English Commercial Court, in Hulley Enterprises Ltd & Ors v. The Russian Federation, granted enforcement of ICSID awards but declined to enforce costs and interest-on-costs components of New York Convention awards related to the Yukos arbitrations. This decision highlights differing judicial gatekeeping approaches for ICSID and New York Convention awards in England.

Podcast: UK vs. U.S. Investment Screening Regimes

Wiley Rein LLP published a podcast discussing the differences between the UK's investment screening regime under the National Security and Investment Act and the U.S. CFIUS program. The podcast features insights on evolving national security concerns and practical advice for businesses involved in cross-border investments.

EC Seeks Technical Advice on Taxonomy Regulation Disclosures

The European Commission has requested technical advice from the European Supervisory Authorities (ESAs) on key performance indicators (KPIs) for the Disclosures Delegated Act under the Taxonomy Regulation. The EC aims to review and simplify taxonomy reporting, with advice due by October and potential amendments targeted for Q1 2027.