
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
On 25 July 2025, President Donald Trump signed Executive Order 14320, Promoting the Export of the American AI Technology Stack, outlining a national strategy to promote global adoption of US-developed artificial intelligence technologies and assert American leadership in global standards and supply chains.
On 15 August 2025 the IRS released Notice 2025-42 (the Notice), which restricts the methods that developers of wind and solar projects can use to determine whether they have begun construction for purposes of the section 45Y production credit and the section 48E investment credit on and after 2 September 2025.
On 4 July 2025, President Donald Trump signed the Republican budget reconciliation bill, known as the “One Big Beautiful Bill Act”, Pub. L. No. 119-21 into law.
Attorney General Pam Bondi issued a memorandum on 29 July 2025 titled “Guidance for Recipients of Federal Funding Regarding Unlawful Discrimination”.