Series
Commercial Implications of Tariffs, Trade Policy, and Changes in Law
The Trump Administration has embarked on an ambitious agenda that is reshaping global trade and many domestic policies. Existing contracts may be impacted, particularly where the cost of performance has increased or become more difficult due to tariffs, supply chain disruptions, material or equipment shortages, or changes that impact a project’s funding or financing. Companies are exploring their contractual rights, as many face substantially different circumstances today than when their contracts were signed. Force majeure, change in law, and material adverse change clauses are among the principal clauses that may be applicable to these issues. Each situation presents its own unique set of facts, which must be considered in the context of the contract language and governing law. We are dedicated to keeping our clients informed about commercial issues flowing from executive actions. Visit this page frequently for timely insights and subscribe to our mailing list to receive updates direct to your inbox.
Thought Leadership
This edition of The Essentials coincides with the close of California’s 2025 legislative session and summarizes the most significant employment-related bills enacted this year. We have highlighted key provisions of the new laws taking effect in 2026 and one related to the use of artificial intelligence that took effect in October 2025.
Congress created a new framework around payment stablecoins but has done more than regulate a digital asset class—it has quietly set in motion a potential transformation of the regulation of core payment systems.
The One Big Beautiful Bill Act makes major changes to the Internal Revenue Code’s clean energy tax provisions, particularly to the provisions that were extended, expanded, and established as part of the 2022 Inflation Reduction Act.
Senators Chuck Grassley (R-IA) and Dick Durbin (D-IL) introduced on 29 September 2025, the H–1B and L–1 Visa Reform Act of 2025, a bipartisan proposal to overhaul two of the most widely used employment-based visa programs in the United States.