Fashion Law Update

In the first part of 2025, New York joined other states, such as Colorado, Connecticut, New Jersey, and Texas, seeking to regulate artificial intelligence at the state level. 

On 2 April 2025, President Trump announced a series of “reciprocal” tariffs on US imports from all countries.  The tariffs apply at different rates by country, starting at a baseline of 10% and reaching as high as 50%.  

Starting on 30 June 2024, with the application of the first of two introduction phases of the Regulation on Markets in Crypto-assets across all member states of the European Union, the EU has introduced for the first time a harmonized regulatory framework as well as accompanying passporting rights for service providers of the crypto-asset market, affecting both traditional institutions of the financial sector and new players emerging in the crypto-ecosystem.

The Hon. Jim Chalmers MP, Federal Treasurer and the Hon. Clare O'Neil MP, Minister for Housing, Minister for Homelessness issued a joint media release on 16 February 2025 titled "Albanese Government clamping down on foreign purchase of established homes and land banking".