How Recent U.S. Tariffs Impact Your Cross-Border Contracts: Key Clauses to Review February 3, 2025 On Saturday, February 1, 2025, President Trump imposed significant tariffs on Canada, Mexico, and China, which go into effect on February 4, 2025, at 12:01 AM. In response there has been concern from a number of clients, partners and colleagues about the practical effects of the tariffs on the economy between the U.S.’s largest trading partners and the related business relationships with companies doing business with these countries. Pursuant to the International Emergency Economic Powers Act (50 U.S.C. 1701, et...