Tariffs and Mitigating Actions: Focus on the Business Law Section Report with Participation of the International Section and Real Property Law Section

The Business Law Section presents this Task Force report on tariff policy developments since February 2025. IEEPA-based tariffs were imposed rates of 10% to 50% on nearly all trading partners in 2025. Importers challenged the asserted authority for these tariffs and the U.S. Supreme Court ruled against the Administration. While the IEEPA tariffs were removed on February 24, 2026, the Administration immediately imposed “Section 122” “balance of payments” tariffs of 10% on imports from all countries. These tariffs recently also were ruled unlawful by the U.S. Court of International Trade and the Administration has appealed that decision. In addition, 76 new Section 301 unfair trade cases were announced against most key U.S. trading partners. Many of those cases will result in additional tariffs on imports. In short, tariffs are not going away.

New York State faced significant impacts from the IEEPA tariffs: 71,200-150,000 potential job losses in New York City, $4.3-10 billion in reduced tax revenues, and a 14.2% decline in foreign direct investment. Those issues remain.

This Task Force Report serves practitioners, in-house counsel, and businesses navigating the current tariff landscape. It provides comprehensive legal analysis of the constitutional and statutory framework governing tariffs, assessment of economic implications for New York State and businesses, and actionable recommendations to businesses for risk mitigation and strategic adaptation.

This program will present recent case studies from practitioners and possible practical solutions. They will be analyzed and discussed by all participants.