Breaking Trade News: New 25% Tariff on Chips, Sanctions Against Iran, U.S. Trade Deficit Plummets

Here is a recap of the latest customs and international trade news:  

Administration 

  • President Trump issued a proclamation and fact sheet announcing a 25% tariff on certain semiconductors, semiconductor manufacturing equipment, and their derivatives. 
  • President Trump said in a Truth Social post that he will immediately impose a 25% tariff on any Country doing business with Iran. The White House has not yet issued an executive order or proclamation imposing the tariffs. 

Supreme Court 

  • The Supreme Court scheduled an opinion release date on January 14, but did not release its ruling on the highly anticipated IEEPA tariffs case. The Court has not yet announced when the next opinion release date will be. 
  • The Respondent merit briefs were filed in Montgomery v. Caribe Transport II, LLC, a case before the Supreme Court that will determine whether freight brokers may be held liable under varying state laws for accidents involving federally licensed motor carriers. Oral arguments will be held on March 4, 2026. 

Customs and Border Protection (CBP) 

  • CBP modified the Withhold Release Order on FGV Holdings Berhad in Malaysia. As of Jan. 15, 2026, the U.S. will no longer […]