On April 2, 2025, President Trump signed two executive orders enacting sweeping reciprocal tariffs and eliminating the de minimis treatment for imports from China and Hong Kong. The accompanying Fact Sheet also continues to highlight sectors for which the Administration is seeking new investment in manufacturing. 

On February 4, 2025, President Donald Trump issued his second National Security Presidential Memorandum (NSM-2), enacting “maximum pressure on the Iranian regime.” While Iran is already subject to robust and comprehensive U.S. economic sanctions and embargos, NSM-2 focuses on denying Iran nuclear weapons and intercontinental ballistic missiles, countering Iran’s development of weapons, and disrupting those who act on behalf of Iran (including Iran’s “surrogates” and “terror proxy groups”).