Blogs

The incoming Trump Administration’s approach to the Inflation Reduction Act (IRA) and tax policies is generating significant interest within the electric vehicle (EV) sector.

As President-elect Trump continues to shape his economic plan with significant tariff policies, it’s crucial for businesses to stay informed about the potential risks and opportunities his announcements may bring.

As President-elect Trump prepares to take office for a second term, his presidency will undoubtedly reshape US international trade policy, impacting US and foreign manufacturing. We can expect that his administration will implement new and increased tariffs. Whether those tariffs come in the form of universal tariffs, tariffs targeted to a few countries, industries or products, or tariffs targeted to certain companies will likely be known once Trump assumes office. The solar industry, particularly solar products originating from China, is expected to be a focus point of potential future tariff measures.

Headlines that Matter for Companies and Executives in Regulated Industries

As President-elect Trump prepares to take office on January 20, the construction industry must anticipate shifts in trade policy, particularly concerning tariffs. These changes are expected to have significant implications for various sectors, including energy and clean technology.

As President-elect Donald Trump prepares to assume office on January 20, numerous tariff proposals have already been put forward that could significantly impact the electric vehicle (EV) and battery supply chain industry. Differentiating between the potential for immediate tariff actions and those requiring more time to implement is critical for companies that are in preparation of such actions.

Consumer protection wins again! The Federal Trade Commission (FTC) announced a final order settling its complaint against Rytr LLC, an artificial intelligence (AI) writing assistant tool that was capable of producing detailed and specific false product reviews using AI technology.

Educating employees about sexual harassment — what it is, that it is unlawful, that your organization won’t tolerate it, how to prevent it, how to respond to it, etc. — can contribute to safer and more productive workplace, plus reduce exposure to successful harassment claims. Recognizing that, on their own, many employers have implemented sexual harassment prevention training programs.

The US Department of Commerce’s Bureau of Industry and Security (BIS) introduced its long-anticipated (some would say dreaded) Framework for Artificial Intelligence Diffusion (the AI Diffusion Rule) on January 15. Highlights include the first-ever export controls on artificial intelligence (AI) models and worldwide license requirements for advanced chips.

Welcome to the January 2025 issue of “As the (Customs and Trade) World Turns,” our monthly newsletter where we compile essential updates from the customs and trade world over the past month. We bring you the most recent and significant insights in an accessible format, concluding with our main takeaways — aka “And the Fox Says…” — on what you need to know.

Last November, Nasdaq proposed a rule change that would lengthen the notification period for companies conducting reverse stock splits from five business days to 10 calendar days. The rule change became effective immediately and will become operative on January 30.

The Federal Trade Commission (FTC) will hold an informal hearing at 1:00pm EST on January 17, regarding the proposed amendment to its existing impersonation rule.

Now is the time for health care providers to consider participating in the recent Blue Cross Blue Shield (BCBS) antitrust class action settlement and the newly filed antitrust cases alleging widespread price fixing for out-of-network claims by MultiPlan and health insurers.

On December 23, 2024, Hudson’s Bay Company, the parent company of Saks Fifth Avenue, completed its acquisition of Neiman Marcus Group, the parent company of Neiman Marcus and Bergdorf Goodman, for $2.7 billion following years of on-and-off negotiations.

The US Securities and Exchange Commission (SEC) recently released its priorities for 2025. As in recent years, the SEC is focusing on fiduciary duties and the development of compliance programs as well as emerging risk areas such as cybersecurity and artificial intelligence (AI). This alert details the key areas of focus for investment advisers.

The ongoing Los Angeles, California, wildfires have caused widespread devastation, forcing residents to evacuate, and have destroyed homes and communities. President Joe Biden approved a Major Disaster Declaration in response to the wildfires in Los Angeles County on January 8.

Employers are paying close attention to pay transparency laws, which are the latest trend in employment legislation. Often expanding on existing pay equity laws, many state and local governments have enacted or proposed legislation with the stated goal of reducing pay inequity and combating wage discrimination.

The US government signals careful optimism with a new general license authorizing some previously prohibited transactions, including many (but not all) transactions with Syrian governing institutions, for the next six months.

On June 27, 2023, the Pregnant Workers Fairness Act (PWFA), a federal law enforced by the US Equal Employment Opportunity Commission (EEOC), went into effect. The PWFA mandates that employers with at least 15 employees, along with other covered entities, provide reasonable accommodations for employees with known limitations related to, affected by, or arising out of pregnancy, childbirth, or related medical conditions.

Headlines that Matter for Companies and Executives in Regulated Industries

With the US Department of Justice (DOJ) and Federal Trade Commission (FTC) withdrawing yet another set of antitrust compliance guidelines last month, companies that collaborate with their competitors — whether directly or through a trade association — are left without any official agency guidance regarding safe harbors, other than the murkier background of a century of antitrust cases. However, the forthcoming change in presidential administrations might provide increased clarity.

On January 3, the US Surgeon General issued an advisory on the association between alcohol and the risk of cancer. The alcohol beverage industry has swiftly responded highlighting conflicting studies and federal guidelines.

On December 30, 2024, the Massachusetts state legislature passed House Bill 4653 (the Act), which significantly enhances regulatory oversight in the Massachusetts health care market. As signed into law by Governor Maura Healy on January 8, the Act will have profound effects for private equity (PE) investors and real estate investment trusts (REITs) engaging with the Massachusetts health care market. Passage of the Act comes on the heels of prominent PE-backed hospital failures in Massachusetts.

Working toward a more circular economy will continue to be at the forefront in 2025. More and more, states are requiring producers to manage the end-of-life of an increasing number of consumer items, from packaging materials, paper products, and food service ware, to mattresses, carpets, and more. California is now the first state in the nation to establish an extended producer responsibility program expressly for textiles.

On January 6, the US Food and Drug Administration (FDA) published in the Federal Register a notice announcing its determination that 35 previously authorized Food Contact Notifications (FCNs) for food contact substances containing per- or polyfluoroalkyl substances (PFAS) are no longer effective.