On February 20, 2026, the Supreme Court of the United States (SCOTUS) issued a landmark 6–3 decision sharply curtailing presidential authority to impose unilateral tariffs under the International Emergency Economic Powers Act (IEEPA).

Although Venezuela remains subject to sanctions targeting the Government of Venezuela (GoV) and entities in which it holds a 50% or greater ownership interest, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has issued a series of General Licenses (GLs) representing the broadest easing of Venezuela-related sanctions in years.

China’s State Administration for Market Regulation (SAMR) recently revised its Provisions on Prohibiting Monopoly Agreements (禁止垄断协议规定) to specify when vertical agreements will be presumed legal under the Chinese Anti-Monopoly Law’s safe harbor provision (the Safe Harbor). This revision, which will take effect on February 1, 2026, provides specific Safe Harbor criteria that distinguish between agreements to fix resale prices or set minimum resale price (i.e., RPM agreements) and all other vertical agreements.