Alerts

On July 3, 2025, Congress passed the One Big Beautiful Bill Act (“OBBBA”). This legislation was officially signed into law on July 4, 2025, and makes permanent a number of provisions first introduced in the 2017 Tax Cuts and Jobs Act. OBBBA represents a significant reshaping of the federal tax system, presenting new opportunities and challenges in estate and income taxing planning.

In a significant development for U.S. trade policy, on February 20, 2026, the Supreme Court ruled that the Trump administration’s use of the International Emergency Economic Powers Act (“IEEPA”) to impose (1) overly broad worldwide reciprocal tariffs and (2) fentanyl/penalty/ immigration-related tariffs on China, Mexico, and Canada was unconstitutional.

Many experts in the commercial transportation industry are bracing themselves for continued increase in cargo theft in 2026. A recent federal case highlights the increasing sophistication of cargo thieves and high stakes. Although Congress is pushing a bipartisan bill forward in response, shippers, carriers, and brokers face immediate exposure and should take proactive steps to strengthen safeguards.

Over the past year, escalating protective tariffs have prompted many domestic and foreign medical device manufacturers to reach out for assistance with duty-free entry of their products into the U.S. In many cases, relief is available under the little-known international agreement, the Nairobi Protocol, formally known as the Protocol to the Agreement on the Importation of Educational, Scientific and Cultural Materials.