Good Morning

A note from our CEO, Richard Roman Jr

As we move past the holiday rush and head toward year-end, we’re seeing two very different stories in global trade.

On one side, there’s real progress: the U.S.–South Korea deal brings clarity and tariff relief where there was a lot of uncertainty just a few months ago. On the other, the IEEPA Supreme Court case and related lawsuits keep a large portion of the tariff landscape in limbo — with real implications for how and when importers might recover duties.

Operationally, the post-peak “quiet period” has begun. Carriers are adjusting sailings, demand has eased, and now is the window to plan ahead for Chinese New Year, when factories shut down and capacity tightens again.

At JR Global, our focus is helping you read both the policy and operational signals early so you can act, not react.

The Roundup

What moved the world this week

Customs & Trade Policy Update

U.S.–South Korea Tariff Reduction (15% Cap + Retroactivity)

The U.S.–South Korea Strategic Trade & Investment Deal is now in effect, creating asimplified and capped tariff structure for many Korean imports:

15% total duty cap when the standard rate is below 15%
No additional duty when the underlying duty is already 15% or higher
Autos and auto parts reduced from 25% to 15% total, retroactive to Nov 1, 2025
Additional product categories (wood products, some aircraft parts, pharmaceuticals) also fall under the simplified 15% framework

This agreement brings consistency and reduces tariff uncertainty, with retroactive refund opportunities for applicable entries.

Takeaway: If you import Korean goods, especially autos, parts, timber, or industrial goods, duty exposure may now be lower and capped. Review entries since November for possible refunds.

IEEPA Litigation & Refund Protection Strategy

The Supreme Court is still reviewing whether IEEPA provided legal authority for the emergency tariffs. Costco and other major importers have filed lawsuits seeking refund protection and challenging the legality of duties already paid.

Because the Court’s ruling may limit refunds to entries not yet liquidated or to importers who filed protective claims, timing is critical.

JR Global can support your strategy by helping identify impacted entries and filing PSCs or protests under attorney guidance.

Takeaway: If you have exposure to IEEPA tariffs, speak with your customs attorney now. Refund eligibility may depend on whether your entries remain unliquidated or formally challenged before a Court ruling.

Supply Chain & Logistics News

Post-Holiday Quiet Period

The holiday freight window has closed and carriers have entered the usual post-peak adjustment phase, with blank sailings, reduced rotations, and week-to-week schedule shifts.

Takeaway: Expect fewer departures and variable transit times. Use this window to rebalance inventory and secure space before the January pre-CNY surge.

Chinese New Year (CNY) Booking Window Opens

CNY factory closures begin 1–2 weeks before the holiday, creating the annualJanuary booking surge followed by February slowdowns.

Takeaway: If you need goods for February/March arrival, book now. Production and space constraints will tighten materially in early January.

The Forecast

Trends, goals, and what’s on the radar at JR Global

From where my team and I sit, this week feels like a pivot point between two cycles.

On the policy side, the South Korea deal is a good example of where things are headed: more structured, capped tariffs and clearer rules for certain partners. At the same time, the IEEPA litigation shows the exact opposite — uncertainty, contested authority, and the possibility of retroactive changes. We expect this split to continue: some lanes will gain predictability while others remain legally unsettled.

Operationally, we see this post-holiday period as a short but valuable planning window. Capacity is available, carriers are adjusting networks, and there is still time to position inventory and book early for Chinese New Year. Our advice as a leadership team is simple: use this quieter moment to get ahead of CNY and to review your tariff exposure, rather than waiting for the next crunch.

The Shortcut

Smart tips for smart shippers — key takeaways from this week’s newsletter

South Korea Tariffs: U.S. caps many Korean tariffs at 15%, including autos and key industrial products, with retroactive effect — review for refund opportunities.
IEEPA Litigation: The Supreme Court case and related lawsuits keep refund eligibility uncertain; discuss strategies with your customs attorney and use JR Global for PSC/protest support.
Post-Peak Market: Volume has eased, but blank sailings and schedule changes are common — check routings carefully.
Northern Europe: Conditions are better but still fragile; plan buffer time or alternates.
Chinese New Year: Factory closures and capacity crunch are coming — now is the time to plan Q1 shipments.

The Playlist

What the JR team is listening to this week in the office

Spotify Playlist

Sources

Newsletter [Dec 7 - Dec 13]