Weeks after the U.S. and Iran signed a fragile Memorandum of Understanding (MOU), the Strait of Hormuz, a vital chokepoint for shipping, remains in flux. Bloomberg reported Saturday that some attempting to leave the Persian Gulf along the Omani coast turned back between Friday and Saturday. But then, on Sunday, some ships were able make…
The tariffs came fast, the court orders came faster, and now the question for most importers who paid IEEPA duties is not whether they are entitled to a refund for a large number of entries, the legal question has been resolved, but whether they have done what is required to actually collect one. That is…
There is a version of this story where the headline writes itself: CPSC requires electronic filing of product certificates starting July 8, 2026. That is accurate, and for some importers it is all they need to know to start making calls. But the rule has enough moving parts: two certificate types, two filing methods, seven…
Right now, a proposed peace deal between the U.S. and Iran remains in flux, as key issues, like the Strait of Hormuz and Iran’s nuclear program, remain sticking points. The Strait of Hormuz remains one of the region’s most vital chokepoints, with about 20% of the world’s petroleum and liquified natural gas passing through. These…
Here is the basic shape of Section 122 as of June 1. The administration invoked it on February 20, the same day the Supreme Court struck down IEEPA, as a backup plan to keep a 10% across-the-board surcharge on most imports while a more permanent replacement was built. It took effect on February 24. It…
Here is the basic shape of the IEEPA refund situation as of early June. The Supreme Court invalidated the tariffs in February. The government had collected roughly $166 billion under them. Customs and Border Protection has now refunded approximately $20.6 billion, with another $85 billion accepted for processing through the new CAPE portal that opened…
In just a few weeks, the US and Mexico will begin the first bilateral negotiating round to discuss the future of the US-Mexico-Canada Agreement. The initial high-stakes joint review of the trade agreement will take place in July. This performance review, so to speak, is mandated in the initial deal, and if the terms are…
Yesterday, U.S. Central Command announced that two American-flagged merchant vessels successfully transited the Strait of Hormuz, escorted by guided-missile destroyers that had entered the Persian Gulf as part of what the White House is calling Project Freedom. “American forces are actively assisting efforts to restore transit for commercial shipping,” CENTCOM posted on X. The market’s…
U.S. Customs and Border Protection (CBP) has confirmed that the CAPE (Consolidated Administration and Processing of Entries) refund process for IEEPA duties will go live on Monday, April 20, 2026. This development establishes the official pathway for submitting IEEPA refund claims through the ACE Portal (see our full list of resources here). While the system…
A geopolitical dispute over the Panama Canal has spilled into the shipping lanes, and the ripple effects are being felt across global supply chains. Over the past several weeks, China has dramatically increased its detention of Panama-flagged vessels at Chinese ports. U.S. officials are calling it economic retaliation dressed up as maritime enforcement. How…