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Objective record of trade-policy shifts as they hit. For opinion and stakes, see Insights.

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Announced: 2026-04-20ProcedureImport scope: US · MX

Greer + Ebrard joint statement: sector-by-sector USMCA bilateral, first formal round in Mexico City week of May 25

On April 20, 2026, USTR Jamieson Greer and Mexican Secretary of Economy Marcelo Ebrard issued a joint statement directing teams to advance technical work on economic security, complementary trade actions, strengthened rules of origin for key industrial goods, and collaboration on critical minerals. President Sheinbaum publicly framed Mexico's objective: a specialized steel/aluminum/autos agreement before the trilateral review concludes. Ebrard described the negotiating posture as 'sector by sector,' targeting reduced extra-regional dependence — particularly the 85%+ Asian import share in semiconductors, pharmaceuticals and electronics. The first formal bilateral negotiating round is scheduled for the week of May 25, 2026 in Mexico City. USTR has signaled separately that existing US §232 / §301 / §122 tariffs on Mexico-origin goods stay in place during the negotiation window.

TariffsProcedures & reviews

Coverage: Export country All → Import country US · MX · HS 72 · 76 · 87 · 85 · 30

●Effective: 2026-05-25
Announced: 2026-04-10ProcedureImport scope: US

CBP launches CAPE Phase 1: consolidated IEEPA refund process for duties paid Apr 2025 – Feb 2026

CBP issued CSMS #68315804 on April 10 confirming that Phase 1 of the Consolidated Adjustment for Prior Entries (CAPE) refund process launched April 20, 2026. The mechanism mass-processes accepted entry summaries by recalculating duties as if IEEPA tariffs were never owed; interest is computed under 19 CFR 24.36. The refund channel exists because the Supreme Court struck down IEEPA tariffs in Learning Resources v. Trump (Feb 20, 2026, 6-3 ruling). CBP follow-up CSMS dated April 13 detailed the entry-summary recalculation logic. Importers do not have to file entry-by-entry; CAPE consolidates the refund.

TariffsProcedures & reviews

Coverage: Export country All → Import country US · HS All

●Effective: 2026-04-20
Announced: 2026-04-02NEWImport scope: US

§232 imposes 100% on patented pharma (15% Switzerland)

White House signs §232 proclamation on April 2. 100% ad valorem on patented drugs + APIs. Switzerland preferential tier at 15%. Generics and biosimilars fully exempt. Effective July 31 for 17 Annex III companies; September 29 for others.

Tariffs

Coverage: Export country All → Import country US · HS 30

●Effective: 2026-07-31Tier 2 effective: 2026-09-29
Announced: 2026-04-02MODIFIEDImport scope: US

§232 restructured: derivatives now pay full customs value (was metal-content)

April 2 proclamation raises Annex I-A primary metals to 50% ad valorem, Annex I-B derivatives to 25% on full customs value (no more metal-content split). UK origin qualifies for 25%/15% tiers with 95% melt-and-pour rule. Products with ≤15% metal content fully exempt. Quarterly inclusion process terminated.

Tariffs

Coverage: Export country All → Import country US · HS 72 · 73 · 74 · 76 · 84 · 85 · 87 · 94

●Effective: 2026-04-06
Announced: 2026-03-18ProcedureImport scope: US · MX

USTR Greer + Mexico's Ebrard formally launch bilateral USMCA pre-review track

On March 18, 2026, USTR Jamieson Greer met Mexico's Secretary of Economy Marcelo Ebrard in Washington to formally open bilateral USMCA review discussions, ahead of the July 1, 2026 first joint review. The published agenda: increasing US and Mexican production, limiting non-market inputs into North American supply chains, and identifying gaps in key supply chains. Canada was not included in this bilateral track — the meeting reads as a US-MX positioning channel rather than a trilateral preparatory.

Procedures & reviews

Coverage: Export country All → Import country US · MX · HS All

●Effective: 2026-03-18
Announced: 2026-03-11NEWImport scope: US

USTR launches §301 investigations of 16 economies on structural excess capacity

USTR initiates Section 301 investigations on March 11, 2026 covering 16 economies (China, EU, SG, CH, NO, ID, MY, KH, TH, KR, VN, TW, BD, MX, JP, IN) and 21 industrial sectors including steel, aluminum, autos, batteries, chemicals, electronics, semiconductors, ships, solar, robotics. Comment deadline April 15; hearings May 5, 2026.

TariffsProcedures & reviews

Coverage: Export country CN · EU · SG · CH · NO · ID · MY · KH · TH · KR · VN · TW · BD · MX · JP · IN → Import country US · HS 72 · 73 · 74 · 76 · 84 · 85 · 86 · 87 · 88 · 89 · 25 · 28 · 29 · 38 · 39 · 48 · 49 · 25

●Effective: 2026-05-05