REGULATORY RUNDOWN | July 21 - Aug. 04

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The Regulatory Rundown: July 21-August 4

Trump modifies reciprocal tariff rates, suspends de minimis. On July 31, President Trump signed an executive order (EO) modifying reciprocal tariff rates for certain countries. The EO comes months after Trump announced an additional 10% tariff on all countries “with which the United States has large trade deficits” and subsequently announced higher additional tariffs that went into effect in April.

One day prior to signing the EO, Trump suspended duty-free de minimis treatment for low-value shipments. The suspension of de minimis will take effect August 29, at which time imported goods sent through means other than the international postal network that are valued at or under $800 and that would otherwise qualify for de minimis treatment will be subject to “all applicable duties.”

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Trump announces trade deals with EU, Japan, Indonesia. On July 28, President Trump announced a trade deal with the European Union (EU) whereby the EU will purchase $750 billion in U.S. energy and make new investments of $600 billion in the U.S., “all by 2028.” The EU will also pay the U.S. a tariff rate of 15%, including on autos and auto parts, pharmaceuticals, and semiconductors.

The EU deal comes less than a week after Trump announced agreements with Japan and Indonesia, under which Japan will invest $550 billion directed by the U.S. “to rebuild and expand core American industries” and Indonesia will pay the U.S. a reciprocal tariff rate of 19%.

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Briggs sworn in as Dep. Admin. of SBA. On July 23, William Briggs was sworn in as the Deputy Administrator of the Small Business Administration (SBA) following his Senate confirmation. Briggs served as Acting Associate Administrator for SBA’s Office of Capital Access during the first Trump administration.

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DOL solicits input on ways to improve small employer retirement plans. On July 28, the Department of Labor (DOL) “announced that its Employee Benefits Security Administration [EBSA] is soliciting public input on how to help smaller employers that want to offer retirement benefits choose a high-quality, low-cost option known as a pooled employer plan [PEP].”

The request for information “provides interpretive guidance about an employer’s responsibilities when joining a PEP and offers advice on selecting a plan.” More information is available here.

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DOL launches self-audit programs. On July 24, DOL announced several programs to help employers voluntarily assess and improve their compliance with federal labor laws. Agencies offering self-audit programs include EBSA, the Occupational Safety and Health Administration (OSHA), and the Wage and Hour Division (WHD). More information is available here.

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