Alerts

On April 25, purchasers of Nike non-fungible tokens (NFTs) filed a class action complaint in the US District Court for the Eastern District of New York against the sportswear giant alleging that the December 2024 shutdown of RTFKT constituted a “brazen rug pull,” resulting in significant monetary losses for the plaintiffs.

For decades, businesses have focused on “doing more with less,” maximizing efficiency by optimizing resources and streamlining processes to achieve greater output with fewer inputs. This effort often involves leveraging technology, improving productivity, and reducing waste to maintain or enhance performance.

Since January, California officials have seized more than $316 million worth of illegal cannabis and $474,000 in cash through coordinated enforcement actions with state agency partners and local governments.

Employee Stock Ownership Plans (ESOPs) are unique employee benefit plans designed to invest primarily in the stock of the sponsoring employer.

As car buyers rush to get in front of tariffs — which are widely expected to boost sticker prices — the flood of demand has been pushing new vehicle prices ever higher, with the trend unlikely to stop any time soon, experts said.

On April 8, Maryland enacted House Bill 102, further postponing the implementation of the state’s Family and Medical Leave Insurance (FAMLI) program. This latest delay, recommended by the Maryland Department of Labor, is intended to provide employers and employees with additional time to prepare for the program’s requirements.

The US Department of Justice (DOJ) revised its Criminal Division Corporate Enforcement and Voluntary Disclosure Policy (CEP), outlining the benefits a company may earn by voluntarily self-disclosing misconduct, as well as the path to resolution in other cases. The DOJ aimed to simplify the document and clarify the outcomes that companies can expect.

On April 22, at the direction of US Department of Health and Human Services (HHS) Secretary Robert F. Kennedy, Jr., both the US Food and Drug Administration (FDA) and HHS published identical statements announcing the phase-out of so-called “petroleum-based” synthetic food dyes and their replacement with “natural alternatives.”

Headlines that Matter for Companies and Executives in Regulated Industries

This week, the US House Ways and Means Committee released tax legislation that includes several provisions relevant to tax-exempt organizations.

On May 12, Matthew R. Galeotti, the head of the US Department of Justice’s (DOJ) Criminal Division, announced a new white collar enforcement plan, outlined changes to the Corporate Enforcement and Voluntary Disclosure Policy, and added new priority areas to the Corporate Whistleblower Awards Pilot Program Policy. The DOJ also introduced a new corporate monitor selection policy.

Welcome to the May 2025 issue of “As the (Customs and Trade) World Turns,” our monthly newsletter where we compile essential updates from the customs and trade world over the past month. We bring you the most recent and significant insights in an accessible format, concluding with our main takeaways — aka “And the Fox Says…” — on what you need to know.

On May 14, the US House Ways and Means Committee advanced its initial markup version of The One, Big, Beautiful Bill, following 17 hours of a Committee meeting to markup the bill with no changes from the 389-page text that was released on May 12.

President Trump signed an Executive Order (EO) banning athletes assigned male at birth from competing in women’s sports. This applies to sports competitions within both educational institutions and athletic associations.

For decades, regulators have tried to quantify harm related to emissions, including the “social cost of carbon” (SCC), but that approach has now changed. The Trump Administration recently released a memorandum seeking to discontinue regulatory use of SCC except as required by law.

After a rollercoaster of activity related to the federal Corporate Transparency Act (CTA), the US Treasury Department (Treasury) announced on March 2 that it will not enforce any penalties or fines associated with beneficial ownership information reporting for US reporting companies.

On May 12, the United States and the People’s Republic of China announced a temporary 90-day agreement to roll back some of the reciprocal tariffs increases imposed in April.

A May 2 report from the US Treasury Inspector General for Tax Administration (TIGTA) found that as of March, the Internal Revenue Service (IRS) workforce had fallen by 11,443 employees, or 11%, due to probationary employee terminations and deferred resignations. This drastic reduction in the IRS workforce came amid cuts from the Trump Administration’s Department of Government Efficiency (DOGE).

President Trump recently announced a plan to impose a 100% tariff on films produced outside of the United States, leaving stakeholders in the entertainment industry concerned and confused.

Within the last month, the US District Court for the Northern District of California rejected efforts by United Behavioral Health (UBH) to dismiss and decertify two class actions seeking relief related to UBH’s processing of mental health claims.

The California Fourth District Court of Appeal’s decision in Reyes v. Hi-Grade Materials Co. continues the trend toward limiting plaintiffs’ abuse and improper weaponization of the California Private Attorneys General Act (PAGA).

Last year, the New York Retail Worker Safety Act was signed into law. The Act will take effect on June 2, after which New York-based retail employers will be faced with new internal policy and training requirements for employees.

The current Administration is enforcing a law initially enacted in 1940 which requires certain foreign nationals to register with the US government and always carry proof of their registration. There are penalties for violating these requirements, and there is a new form to use for such registration.

Headlines that Matter for Companies and Executives in Regulated Industries

Does the First Amendment protect associations’ communications with their members when petitioning government agencies?