The US raises Canadian tariffs by 10% and ends talks with Ottawa, Trump signs a flurry of trade agreements while visiting Asia, and the EU announces a ban on Russian LNG imports from 2027 – plus other major developments.
Lexology PRO explores some of the most useful articles published on Lexology and externally across key areas of trade and customs over the past several weeks to help businesses stay abreast of key issues.
This key update was produced with the assistance of generative AI.
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Shutterstock.com/Washburn HM
US
The US reached trade agreements with Cambodia and Malaysia on 26 October 2025. Cambodia committed to eliminating tariffs on 100% of US goods and Malaysia will eliminate or reduce tariffs on nearly all US exports. The US maintains a 19% reciprocal tariff on Cambodian and Malaysian goods entering the US. The US also agreed frameworks with Vietnam and Thailand for their respective trade agreements.
Following talks in Kuala Lumpa – host of the 47th summit of the Association of Southeast Asian Nations (ASEAN) – the US and China reached a framework for a new trade deal. Presidents Donald Trump and Xi Jinping will meet in Seoul on 30 October 2025, where a TikTok deal is also anticipated.
On 25 October 2025, Trump increased US tariffs on goods imported from Canada by 10% after the province of Ontario aired an anti-tariff advert featuring President Ronald Reagan. Prime Minister Mark Carney responded that Canada was ready “to continue to build on the progress we had been making” in trade talks. Two days prior, Trump terminated “all trade negotiations” with Canada. On 31 July 2025, Trump raised fentanyl-related tariffs on Canada from 25% to 35%.
The Office of the US Trade Representative (USTR) started a Section 301 investigation on 24 October 2025 into China's implementation of the 2020 Phase One Trade Agreement. Under the agreement, China agreed to make structural changes to correct distortive acts, policies, and practices affecting IP, technology transfer, agriculture, and financial services. The USTR seeks to establish whether China has fully implemented its commitments under the agreement, and if action should be taken in response.
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions and export controls on Russia’s two largest oil companies, Rosneft and Lukoil, on 22 October 2025. The announcement came a week after the UK sanctioned the same two companies.
The USTR announced on 20 October 2025 that Nicaragua’s policies and practices related to labour rights, human rights, and the rule of law are unreasonable and restrict US commerce. The USTR proposed a range of responsive measures and invites public comments on these actions by 19 November 2025.
Trump increased tariffs on medium and heavy-duty vehicles and their parts on 17 October 2025. Tariffs of 25% on most medium and heavy-duty vehicles and 10% on buses will be imposed starting 1 November 2025. Lexology PRO previously explored the potential implication of tariffs on this sector.
EU
On 24 October 2025, the EU and Uzbekistan finalised negotiations on market access for goods and services, marking a key step in Uzbekistan’s bid to join the World Trade Organization (WTO). Uzbekistan committed to tariff rates and service concessions, which will be incorporated into its WTO accession protocol. Additionally, the two countries signed the Enhanced Partnership and Cooperation Agreement, strengthening bilateral cooperation in trade and investment.
The EU adopted its 19th sanctions package against Russia on 23 October 2025. Key measures include a ban on Russian LNG imports from 2027, stricter controls on Russian banks, crypto, and dual-use technologies, and expanded measures affecting third countries. The crucial sanctions imposed against Russia by key jurisdictions so far in 2025, along with countersanctions, and analysis of the most recent updates is available here.
The European Commission (EC) introduced anti-dumping duties of 54.7% to 72.3% on Chinese imports of headless screws, following an investigation confirming unfair pricing practices. These measures aim to restore fair competition in the market, support domestic producers in countries like Belgium, Germany, and Italy, and protect industries such as automotive, energy, and construction.
The EC imposed a 62.5% anti-dumping duty on steel track shoes imported from China, after an investigation found Chinese exports were being sold at unfairly low prices and harming EU producers. Provisional duties have been in place since 22 April 2025.
Colombia
The WTO issued a compliance ruling on 23 October 2025 regarding Colombia’s anti-dumping duties on frozen fries form Belgium, Germany, and the Netherlands. The panel found aspects of Colombia’s measures inconsistent with WTO obligations, indicating a need for procedural adjustments. The report underscores the need for transparent, fair anti-dumping investigations to align with international trade regulations.
Hong Kong
Hong Kong’s Customs and Excise Department convicted a local fruit wholesaler and retailer on 22 October 2025 for selling grapes with false origin labels, violating the Trade Descriptions Ordinance 2012. The retailer was fined HK$36,000 (US$4,634) and 97 boxes of grapes were confiscated.
China
On 20 October 2025, Beijing claimed that Indian measures on imported Chinese batteries, auto parts and e-vehicles violate WTO agreements such as the Agreement on Subsidies and Countervailing Measures, the Agreement on Trade-Related Investment Measures, and the General Agreement on Tariffs and Trade 1994. If consultations fail within 60 days, the complainant can escalate the matter to a panel for adjudication.