Trade, Tariffs & Sanctions

On November 6, 2026, the U.S. Treasury issued a readout stating Secretary Scott Bessent urged China to "fully and immediately" implement commitments from the Busan trade agreement. Reuters reporting the same day specifies U.S. concern focused on delivery of rare earths, other critical minerals and agricultural purchases.

Global Affairs Canada announced that Canada and China agreed to a two-year extension of the Preliminary Joint Arrangement, extending the favourable market access for Canadian canola meal, peas, lobsters and crab until the end of 2028. The government release names the four product groups and states the extension runs through 2028.

The U.S. Trade Representative has notified Congress and the governments of Rwanda and South Africa that the United States intends to terminate both countries from the African Growth and Opportunity Act, with the termination to take effect on January 1, 2027. The action removes AGOA duty-free access for qualifying exports when the termination is implemented and was announced in an official USTR statement and reported by wire services.

U.S. Impact: Low

The ITC published a Federal Register notice on 2026-11-02 instituting preliminary antidumping and countervailing duty investigations, designated Investigation Nos. 701-TA-811 and 731-TA-1813. The Commission must reach preliminary determinations in 45 days, by December 14, 2026, and transmit its views to Commerce by December 21, 2026.

U.S. Impact: Low

The Office of the United States Trade Representative published a Federal Register notice with a public comment deadline of October 30, 2026 at 5:00 p.m. Trade reporting states the notice proposes extending the suspension of maritime Section 301 port fees and cargo-equipment duties through January 9, 2027. Stakeholders may submit comments by the stated deadline; a final decision has not been published.

Late-October 2026 reports say U.S. and Canadian negotiators are discussing possible relief from Section 232 tariffs, with reporting citing 'up to 50% tariff on Canadian steel and a 25% tariff on autos.' A follow-up report quoted a Canadian government official saying there had been 'limited progress' in the talks. No official agreement had been announced in the cited coverage.

U.S. Customs and Border Protection's final rule "Automated Commercial Environment (ACE) Electronic Export Manifest for Rail Cargo" is effective October 26, 2026 and applies to "any train departing the United States." Stakeholders should consult the Federal Register final rule text for precise filing timing, who must submit manifests into ACE, and CBP's enforcement approach.

The White House issued a proclamation modifying which Canadian products are subject to the 50 percent Section 338 additional ad valorem duty. The fact sheet states, "The product additions and removals will take effect on October 30, 2026." The proclamation text references "the additional ad valorem duty of 50 percent."

U.S. Impact: Low

On Oct 21, 2026 the U.S. Department of the Treasury announced 'Operation Economic Outcast,' saying it sanctioned Panama- and Greece-based law firm Karnakis and Karnakis, Singapore- and UAE-based shipping agents, and a fleet of cargo vessels that it says helped conceal and transport Iranian commodities. The Treasury described the actions as targeting legal and maritime facilitators of Iran’s sanctions-evasion networks.

On Oct. 20, 2026, Gellert Global Group filed suit in the U.S. Court of International Trade seeking to block the administration’s 50% tariffs on Canadian goods and moved for a preliminary injunction to halt collection while the case proceeds. The filing is posted by the Liberty Justice Center and was reported by AP and MarketScreener.

On Oct 20, 2026 Gellert Global Group filed a complaint in the U.S. Court of International Trade challenging the administration’s use of Section 338 to impose 50% tariffs on about $20 billion of Canadian imports. The complaint was filed by the Liberty Justice Center and wire services (AP, Reuters) reported the filing on Oct 20, 2026. The plaintiff seeks to block the tariffs as unlawful; court outcomes and timing are uncertain.

U.S. Impact: Low

Gellert Global Group, a New Jersey-based food importer, filed a lawsuit in the U.S. Court of International Trade challenging the administration’s 50 percent tariffs on Canadian goods. The company, which imports Canadian cheese, filed the suit in New York, according to wire reporting.

U.S. Impact: Current Low · Potential Elevated

On Oct 19, 2026 OFAC issued two Protecting American Intellectual Property Act (PAIPA) general licenses: General License 1 and General License 2. The OFAC notice describes GL1 as authorizing transactions "Pursuant to the Cyber-Related Sanctions Regulations" and GL2 as "Authorizing the Wind Down of Transactions Involving Certain Entities Blocked on October 19, 2026." The retrieved OFAC excerpt does not list any designated entities or show a State Department announcement.

European Commission President Ursula von der Leyen said on October 16 that Brussels will propose additional safeguards on Chinese imports beyond its existing hybrid-car agreement, citing a goods trade deficit exceeding €1 billion daily. Measures remain proposals, not enacted tariffs.

An October 16 White House executive order waives specified new sanctions, restrictions and import duties under the Graham Act on national-interest grounds. Existing restrictions imposed under other legal authorities are not automatically lifted.

China proposed revising its technology export catalogue to cover 40 technologies, including 23 AI-related categories. The proposals are not yet final; public consultation runs to November 15.

China's commerce and science ministries proposed adding 40 AI, biomedicine and solar technologies to its restricted/prohibited export catalog on October 16. A public consultation runs through November 15; separate temporary registration requirements for covered technology transfers take effect with the announcement. The proposed bans and restrictions are not yet final.

CBP announced October 14 that mandatory Entry Type 13 electronic filings for specified international mail shipments will begin January 20, 2027 instead of October 22, 2026.

U.S. Impact: Current Low · Potential Elevated

OFAC issued General Licenses 128D and 130B on October 15, extending specified Lukoil retail and Bulgarian refinery-related transactions from October 29, 2026 to April 24, 2027.

U.S. Impact: Low

OFAC added 16 individuals and nine Iran-related entities to its sanctions list October 15, including an Iraqi bank and Iranian exchange companies; a separate Cuban bank designation appeared in the same notice.

U.S. Impact: Elevated

On October 14 the U.S. Federal Maritime Commission proposed a $200,000 per-voyage fee on Spanish-flagged ships calling at U.S. ports and possible restrictions on categories of Spanish imports, after finding Spain's port-denial practices unfavorable to U.S. shipping. The measures are proposals, not current charges or import bans, and public comment and possible hearings precede any final rule.

U.S. Impact: Low

On October 14, OFAC removed Jorge Jesús Rodríguez Gómez, president of Venezuela's National Assembly, from its Specially Designated Nationals list. This is an implemented individual delisting, not a general lifting of Venezuela sanctions or a completed political agreement.

U.S. Impact: Low

China's Xinhua news agency announced October 14 that the New Yalu River Bridge between Dandong and Sinuiju will officially open to traffic October 15, after more than a decade of delay. The announcement signals a prospective new bilateral transport link, not proof that the crossing has already opened or that UN sanctions have changed.

Chinese customs figures released October 14 show September goods exports up 36.3% year on year in U.S.-dollar terms, beating the 25.5% Reuters-polled expectation, and imports up 31.0%. The nine-month surplus reached about $938.11 billion. Strong external demand contrasts with weak domestic consumer inflation; trade restrictions and currency effects remain important uncertainties.

U.S. Impact: Low

OFAC added four individuals and 11 entities tied to Cartel del Noreste to sanctions lists on October 13, targeting horse racing, construction, trucking and fuel operations in northern Mexico. Blocking rules now apply to U.S. persons; alleged illicit conduct and operational disruption must not be conflated with judicial findings.

U.S. Impact: Low

France's navy boarded and diverted tanker DF Peak on October 12 more than 450 nautical miles south of Réunion, citing suspected false flagging and illicit fuel transport. French authorities say the vessel was escorted for checks. Russia's embassy called the operation unlawful on October 13. The suspected sanctions links and legal dispute are not adjudicated findings.

U.S. Impact: Low

The EU Council adopted sanctions on three people and four entities on October 12, targeting North Korea's weapons programmes and prohibited Russia-DPRK cooperation involving missile technicians, workers and refined-oil shipments. EU asset freezes and funding prohibitions apply; no immediate interruption to weapons or oil flows has been verified.

On October 12 the EU and 33 non-EU countries publicly backed a pledge opposing unlawful tolls, discriminatory restrictions and prior authorization for passage through international straits. The declaration coordinates diplomatic positions but does not reopen shipping routes, remove existing charges or create a new enforcement mechanism.

U.S. Impact: Low

EU foreign ministers formally adopted nearly 1,600 Russia-related sanctions listings on October 12, according to EU foreign policy chief Kaja Kallas. More than half concern ballistic-missile production chains. This ratifies an October 7 preliminary agreement, not a separate sanctions package.

The U.S. Treasury's OFAC issued General License 135 on October 9, authorizing otherwise prohibited transactions involving the sale, delivery, offloading and importation of Russian-origin diesel through 12:01 a.m. EDT April 7, 2027. President Trump separately said Russia had agreed to supply more than 300,000 metric tons immediately, with further shipments planned. The legal authorization is verified; physical delivery volumes are not.