Executive Briefing: Latest Updates on the Trump Administration

As Trump administration directives emerge, it’s crucial for businesses and other stakeholders to stay informed and adapt their strategies accordingly. We will provide ongoing coverage of these developments and their potential implications.

Read on for our latest analysis.

Overview and Legal ImplicationsAI | Antitrust | CFTCCryptocurrencyDEIDOJEnergy and the Environment | Intellectual PropertyLife Sciences and Health CareNational Security | Political Law | Tax | Trade Policy

Overview and Legal Implications

  • February 3, 2025: The Trump administration’s executive actions present unique business and legal questions for the private sector. With the administration showing no signs of slowing down, the number and size of potential legal challenges are likely to grow.

Antitrust

  • February 10, 2025: Recent executive orders did not impact new HSR rules from taking effect, but hiring freezes could affect antitrust resources, the FTC has taken steps to eliminate DEI initiatives and there are potential implications for AI-related antitrust policy.

Artificial Intelligence

  • January 30, 2025: President Trump rescinded his predecessor’s omnibus 2023 executive order laying out detailed mandates for government departments regarding AI. The White House has set a 180-day deadline for departments to develop new AI action plans.

CFTC

  • February 6, 2025: Acting CFTC Chairman Pham announced that the agency is condensing and simplifying its nine Division of Enforcement task forces into two, in support of her stated goal to end “regulation by enforcement.”

Cryptocurrency

  • February 7, 2025: The new administration has promised to provide clear regulatory guidance regarding cryptoassets to promote innovation, support open blockchain networks and dollar-based stablecoins, and study a strategic cryptocurrency reserve.

DEI

  • February 7, 2025: A new attorney general memo mandates the investigation of any DEI and DEIA programs and policies within federally funded private sector institutions for potential violations of civil and criminal civil rights laws.
  • January 30, 2025: Two executive orders require federal agencies to terminate DEI programs and mandates, and rescind long-standing affirmative action requirements for federal contractors. Increased scrutiny of DEI efforts is expected even in the private sector.

DOJ

  • February 12, 2025: The executive order pausing FCPA enforcement is designed to prioritize American economic interests, but anti-bribery and corruption risks remain.
  • February 11, 2025: A new executive order directs the attorney general to pause new FCPA enforcement actions. How the order impacts those currently under DOJ investigation or previously subject to FCPA enforcement actions remains to be seen.
  • February 7, 2025: The Office of the Attorney General has issued a new policy to all DOJ employees highlighting the boundaries of prosecutorial discretion with respect to charging, plea bargaining and sentencing, and announcing enforcement priorities, including limits to FARA charges.

Energy and the Environment

  • January 31, 2025: The new administration is undertaking a significant shift in energy and environmental policy, and has put a hold on loans and grants disbursed under Biden-era clean energy investment and infrastructure laws.

Intellectual Property

  • January 31, 2025: Few specifics have emerged so far, but appointments as well as proposed patent legislation could alter the shape of IP law. New AI policies, when they are revealed, will also likely affect IP.

Life Sciences and Health Care

  • February 13, 2025: RFK Jr.’s tenure as the newly confirmed secretary of the Department of Health and Human Services may lead to significant changes in U.S. health policy, including at FDA.

  • January 30, 2025: Biden-era executive orders that established drug-pricing experiments and made it easier to enroll in ACA have been withdrawn. Federal health agencies have been ordered to temporarily suspend all external communications and grant reviews.

National Security

  • January 30, 2025: The new administration’s trade policy could impact national security, especially as it relates to investments in and imports from China, and technology export controls more generally. Foreign subsidies will also come under scrutiny.

Political Law

  • February 6, 2025: Attorney General Pam Bondi announced sweeping changes to certain DOJ enforcement priorities, including deprioritizing enforcement of the Foreign Agents Registration Act and other foreign influence laws.

Tax

  • January 30, 2025 (updated February 10, 2025): President Trump has withdrawn the U.S. from the OECD’s global tax agreement, halted funding for green energy initiatives and implemented a federal hiring freeze across executive departments and agencies, among other moves.

Trade Policy

  • February 11, 2025: Parties confronted by the prospect of new tariffs should review all relevant contracts to determine how the tariffs will impact their rights and obligations, and whether any actions need to be taken to address the new tariff regime.
  • February 6, 2025: President Trump’s unprecedented actions imposing tariffs on Canada, Mexico and China have led to international trade tensions and retaliatory measures. While tariffs on Canada and Mexico have been delayed, those on China are in effect.
  • January 30, 2025 (updated February 1, 2025): President Trump has imposed tariffs on Canada, Mexico and China, though subsequent deals put the Canada and Mexico tariffs on hold. More detailed trade policy proposals are expected following agency reports that are due April 1.

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