EXPD · 10-Q · 2026Q2 · Full report

Trade Policy and Tariffs

EXPEDITORS INTERNATIONAL OF WASHINGTON INC · 2026-08-05 · Importance 41 · Surprise 60 · In source text

Beginning in the first quarter of 2025, the U.S. Government imposed substantially higher import tariffs, followed by additional sector- and country-specific measures and retaliatory actions involving countries including China and Canada. On February 20, 2026, the U.S. Supreme Court invalidated U.S. tariffs imposed under the International Emergency Economic Powers Act, while preserving sectoral tariffs covering metals, auto parts, timber, lumber, and derivative products. U.S. Customs and Border Protection implemented importer and broker procedures in April 2026 for potential tariff refunds, and new U.S. tariffs were broadly imposed across countries in July 2026. Expeditors stated that continuing trade actions and increasingly complex customs declaration requirements are creating uncertainty in global trade flows and increasing regulatory compliance challenges.

Key facts

• New U.S. tariffs have been broadly imposed across a variety of countries in July 2026. source
• Starting in late February 2026 operations of offices in Qatar, Bahrain, Kuwait, Lebanon, Oman, Saudi Arabia and United Arab Emirates were disrupted by the conflict with Iran and the closure of the Strait of Hormuz. source
• The impact on capacity and oil prices resulted in air and ocean carriers implementing surcharges and fuel related increases starting in March 2026. source

Impact estimates