A summary of the top weekly tax developments in the Americas

     This week's tax news from the Americas

• US President issues Executive Order strengthening customs enforcement
  On 3 June 2026, United States (US) President Trump issued an Executive Order titled "Strengthening Customs Enforcement." The order builds upon the administration's policy concerns regarding customs enforcement, particularly in areas related to customs valuation, misclassification, and duty evasion. It directs the Department of Homeland Security and US Customs and Border Protection to implement reforms that improve transparency, enhance compliance and ensure full collection of duties.

• US issues proclamation further adjusting Section 232 tariff regimes for aluminum, steel, and copper; expanded reduced rates and revised thresholds announced
  In a 1 June 2026 proclamation titled "Further Adjusting the Tariff Regimes for Imports of Aluminum, Steel, and Copper into the United States," the US President amended the tariff regimes under Section 232 of the Trade Expansion Act of 1962 (Section 301) on imports of aluminum, steel and copper and their derivative products. The amended regime expands the scope of derivative products subject to the temporarily reduced 15% ad valorem duty, adds new products to the derivative tariff regime to prevent circumvention, and lowers the threshold for products to qualify as made "entirely" from US-origin metal inputs from 95% to 85% by weight, among other things.

• Colombia's highest tax court reinstates higher self-withholding tax rates as of 1 July 2026
  On 2 June 2026, Colombia's highest tax court, the Council of State, revoked its 7 May 2026 decision provisionally suspending Articles 2 through 8 of Decree 572 of 2025, which modified certain withholding and self-withholding tax rates. As a result of the 2 June decision, the rates established in Decree 572 of 2025 will full apply once again. These rates are generally higher than those under the prior rules.

• USTR proposes additional duties following Section 301 forced-labor investigations across 60 economies
  On 2 June 2026, the US Trade Representative (USTR) announced that 60 economies investigated under Section 301 failed either to impose or effectively enforce prohibitions on importing goods produced wholly or partially with forced labor, and that these acts, policies and practices unreasonably burden or restrict US commerce. As a result, the USTR has proposed imposing additional duties on imports from these economies, with differentiated tariff rates based on the extent of each economy's forced-labor import prohibition framework and related commitments.

• United States | Proposed IRC Section 892 regulations would modify applicability dates of 2025 proposed regulations and provide transition period
  Newly proposed regulations under IRC Section 892 (CC-00349656-26) would revise the applicability dates of proposed IRC Section 892 regulations issued on December 15, 2025. The new applicability dates provide important relief to foreign governments and sovereign wealth funds by reassuring them that current investment structures and those entered during an applicable transition period would continue to be subject to existing IRC Section 892 guidance, and not forthcoming final IRC Section 892 regulations on effective control and debt acquisition as a commercial activity.

• Canada | Alberta revises industrial carbon prices
  On 15 May 2026, Canada and Alberta released an implementation agreement establishing revised industrial carbon pricing, credit mechanisms and sector-specific obligations under Alberta's Technology Innovation and Emissions Reduction (TIER) regime, including a slower escalation of carbon prices and enhanced coordination of industrial carbon market policies. Industrial carbon pricing will increase more gradually than previously scheduled, with rates set at CA$95 per ton in 2026, rising to CA$115 by 2030 and reaching a capped rate of CA$140 by 2040, replacing the earlier trajectory that would have reached CA$170 by 2030.

• USTR proposed tariffs following Section 301 determination on Brazil and initiated Section 301 IP investigation into Vietnam
  The USTR has taken significant action under Section 301 involving Brazil and Vietnam, reflecting increased scrutiny of both tariff and non-tariff trade barriers in the two countries. Following the conclusion of its 15 July 2025 investigation into Brazil, the USTR determined a wide range of acts, policies and practices are actionable under Section 301. The issues addressed include digital trade, preferential tariffs, anti-corruption enforcement, intellectual property (IP) protection, ethanol market access and illegal deforestation. The USTR proposed imposing 25% tariffs on all goods from Brazil, subject to certain exemptions and invited public comments on the proposed action. For Vietnam, the USTR initiated a Section 301 investigation into IP protection and enforcement following its identification as a priority foreign country. The investigation will evaluate whether Vietnam's practices are unreasonable or discriminatory and burden or restrict US commerce, with potential for future trade actions.

    This week's newsletters

• Report on recent US international tax developments - 8 June 2026
  Our weekly report with brief summaries of all the week's US international tax developments and related activity.

• Tradelines - 5 June 2026
  Our trade newsletter for global business leaders delivers timely insights into the issues shaping global commerce—from tariff shifts and supply chain disruptions to legislative developments and compliance trends.

• Tax Matters @ EY - 4 June 2026
  Our monthly Canadian summary to help you get up to date on recent tax news, case developments, publications and more.

   Upcoming EY webcasts

• 10 June: Navigating tax and fiscal policy in Americas critical minerals supply chains
• 11 June: What you need to know for Q2 2026 financial reporting (Offering - 1 of 2)
• 11 June: How building trust can help global mobility thrive at speed of change
• 12 June: EY Center for Tax Policy monthly update - June 2026
• 16 June: How e-invoicing is redefining compliance, from obligation to strategic value
• 16 June: AI at Scale: From AI vision to enterprise reality
• 16 June: What you need to know for Q2 2026 financial reporting (Offering - 2 of 2)

A calendar of all upcoming EY webcasts is available.

   Recent EY podcasts

• EY Podcast | Weekly US international cross-border taxation news for week ending 5 June 2026

All episodes of the EY Cross-Border Taxation Spotlight and
EY Talks Tax are available through Apple podcasts.

   This week's EY Global Tax Alerts

    European Union

• Gulf Cooperation Council concludes key free trade agreement with UK
• Luxembourg publishes list of jurisdictions for automatic exchange of GloBE Information Return

Additional resources

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About Americas Tax Roundup

Published by NTD's Tax Technical Knowledge Services Group, Washington, D.C.
Jennifer Mannetta, writer and editor

Distributed weekly to all Americas Tax personnel.