IMF Report on US Recommends Tax and Duty Changes
On 25 February 2026 the IMF issued a report following consultations with the US under Article IV of the IMF’s articles of agreement. The IMF notes that the US economy performed well in 2025 and economic growth reached 2.2% by the end of 2025.
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Brazil welcomes zero tariffs on aircraft exports to US
Brazil's government celebrated the US decision on 24 February 2026 to eliminate tariffs on Brazilian aircraft imports, reducing duties from 10% to zero amid broader US trade policy shifts. The tariff removal significantly benefits Brazil's
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US: IRS revises Section 987 income, foreign currency rules
The US Internal Revenue Service (IRS) has released Notice 2026-17, addressing revisions to the rules for calculating taxable income or loss and foreign currency gain or loss related to a qualified business unit under Section 987. Notice 2026-17:
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US: USTR signals 15% tariffs for select nations
US Trade Representative (USTR) Jamieson Greer announced, on 25 February 2026, that tariff rates will increase to 15% or higher for certain countries, up from the current 10% rate that took effect on 24 February 2026. However, he did not specify
See MoreUS releases interim guidance on special depreciation for eligible production property
The US Department of the Treasury and the Internal Revenue Service (IRS) announced on 20 February 2026 that it has provided interim guidance for taxpayers regarding the special depreciation allowance for qualified production property enacted under
See MoreUS: Trump Administration implements 10% global tariffs after Supreme Court setback
The US began collecting a new 10% global import tariff on 25 February 2026, following a Supreme Court ruling that struck down President Trump's previous emergency tariffs, which had ranged from 10% to 50%. On 20 February 2026, the US Supreme
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US: Department of Commerce to rule on solar import duties from India, Indonesia, Laos
The US Department of Commerce is expected to announce a preliminary ruling on 23 February 2026 on whether it will impose anti-subsidy duties on solar cells and panels from India, Laos, and Indonesia. This follows after a coalition of US solar
See MoreUS: Trump threatens with higher tariffs on any country reconsidering negotiated trade agreements
President Donald Trump warned, on Monday, 23 February 2026, that countries reconsidering recently negotiated US trade agreements would face significantly higher tariffs under alternative trade laws, following the Supreme Court's decision to
See MoreUS: USTR plans broad Section 301 trade investigations after Supreme Court ruling
US Trade Representative (USTR) Jamieson Greer announced, on 20 February 2026, plans to launch multiple investigations under Section 301 trade provisions targeting most major trading partners, following the Supreme Court's decision to strike down
See MoreUS: Supreme Court invalidates emergency tariffs, Trump raises global tariffs to 15% following ruling
The US Supreme Court ruled 6-3 on 20 February 2026 in Learning Resources v. Trump that President Donald Trump exceeded his authority by imposing sweeping global tariffs under the International Emergency Economic Powers Act of 1977 (IEEPA). Chief
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Indonesia secures 19% tariff deal with US
Indonesia and the US have finalised a trade agreement on 19 February 2026 that reduces US tariffs on Indonesian goods from 32% to 19%, with key exemptions secured for Indonesia's major exports. The deal was signed in Washington by Indonesia's
See MoreUS: FinCEN exempts financial institutions from repeatedly verifying beneficial owners
The US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an order granting exceptive relief to covered financial institutions from certain requirements under FinCEN’s Customer Due Diligence Requirements for
See MoreUS releases further interim guidance on corporate alternative minimum tax implementation
The Internal Revenue Service (IRS) released Notice 2026-7 on 18 February 2026, setting out further interim guidance on the application of the Corporate Alternative Minimum Tax. The notice is scheduled for publication in the Internal Revenue Bulletin
See MoreUS, North Macedonia reach framework for reciprocal trade deal
The Trump Administration released a Joint Statement on 12 February 2026 outlining a framework for a US-North Macedonia trade agreement that establishes a 15% tariff rate on North Macedonian goods, with the possibility of zero tariffs on select
See MoreUS, Taiwan sign reciprocal trade agreement
The Office of the US Trade Representative (USTR) announced, on 12 February 2026, that the Trump administration finalised a reciprocal trade agreement with Taiwan. The Trump Administration also released a fact sheet on the agreement. The
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WTO: Meeting of Ministers to Discuss Reform
On 11 February 2026 the director-general of the World Trade Organization (WTO) indicated that the WTO ministerial meeting in Cameroon in March 2026 will aim to make progress in reforming the organisation. The director-general has emphasised that the
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J5 warns OTC crypto desks and processors enable tax evasion, money laundering
The Joint Chiefs of Global Tax Enforcement (J5) published two law enforcement advisories on 11 February 2026 that detail how over-the-counter (OTC) cryptocurrency trading desks and cryptocurrency payment processors may be used to obfuscate and move
See MoreUS issues new tax rules to limit Chinese clean energy components
The US Treasury Department released interim guidelines on 12 February 2026 addressing how companies can qualify for clean energy tax credits while restricting reliance on Chinese-made equipment under President Donald Trump's tax legislation. The
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