On April 17, 2025, the U.S. Trade Representative imposed a series of fees on Chinese-owned and -operated vessels, Chinese-built vessels, and foreign-built car carriers starting in October 2025. The USTR also proposed additional duties on Chinese-manufactured ship-to-shore cranes and certain cargo handling equipment. The range of fees, the application of the fees to car carriers not connected with China, and the crane fees are all new and did not appear in the USTR’s February 2025 proposal.

Amid a recent resurgence in litigation targeting pension risk transfer (PRT) transactions, plan sponsors and fiduciaries should take extra care in selecting annuity providers to ensure compliance with fiduciary duties. Read on for a summary of recent developments and insights.