This is Queen Street Analytics' weekly digest of regulatory developments, legislative discussions, political announcements and other government-related news coverings foreign affairs and international relations. Once a week, we break down the most important updates in this space in under five minutes.

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Dates: 2026-03-29 to 2026-04-04

📋 In This Week's Newsletter

• 🇺🇸 Federal Government News
• 📜 Legislative Updates
• 🗺️ State Government News
• 📚 What We're Reading This Week

Federal Government News

White House Imposes Tariffs on Patented Pharmaceuticals and Ingredients

On April 2, President Donald J. Trump issued orders imposing tariffs of up to 100% on imported patented pharmaceuticals and active pharmaceutical ingredients (APIs) under Section 232 of the Trade Expansion Act of 1962. Tariffs will be reduced for companies engaging in onshoring or Most Favored Nation agreements, and will not apply to generic drugs, orphan drugs, or certain specialty pharmaceuticals. These measures respond to findings by the Commerce Department that 53% of patented pharmaceuticals and 85% of patented APIs are imported, creating vulnerabilities in supply chains. The policies require ongoing negotiations with key trading partners, monitoring, and enforcement, with tariffs coming into effect for large companies in 120 days and smaller companies in 180 days.

Sources: www.whitehouse.gov, www.whitehouse.gov

White House Strengthens Tariffs on Steel, Aluminum, and Copper Imports

President Trump signed a proclamation on April 2 adjusting tariffs on imported steel, aluminum, and copper under Section 232. The tariffs apply to the full customs value of products and derivatives, setting rates at 50% for most steel and aluminum, and 25% for copper, with exclusions and reduced rates for the UK and items using U.S.-origin metals. Derivative articles are now directly included, ending previous administrative processes. The changes aim to improve rules, strengthen domestic industries, and address national security concerns. The proclamation also provides mechanisms for future tariff adjustments and updates monitoring protocols.

Sources: www.whitehouse.gov, www.whitehouse.gov

White House Announces Decisive Progress in Operation Epic Fury Against Iran

President Trump delivered a primetime address updating on Operation Epic Fury, a U.S. military campaign targeting Iran's navy, air force, and nuclear facilities. The operation, launched to prevent Iran from acquiring nuclear capabilities, has resulted in significant destruction of Iran's military infrastructure and the elimination of key terrorist figures. Objectives include dismantling Iran's defense industrial base and neutralizing further threats. The campaign is nearing completion of its military goals, with ongoing efforts to prevent Iranian aggression and nuclear proliferation. Thirteen American soldiers lost their lives in the campaign.

Sources: www.whitehouse.gov, www.whitehouse.gov

Commerce Department Opens Administrative Reviews of Antidumping and Countervailing Duty Orders

The International Trade Administration (ITA) of the Department of Commerce announced the window for interested parties to request administrative reviews of antidumping and countervailing duty orders for April 2026. Requests and comments must be submitted by the end of April, with CBP data released under administrative protective order for respondent selection. The announcement lists specific orders by country and product, and provides processes for review withdrawals, market situation allegations, and annual inquiry service list updates. If no review is requested, duties are assessed at the cash deposit rate. Further information is available on the ACCESS website.

Sources: www.federalregister.gov

International Trade Commission Receives Complaint on Semiconductor Device Imports

The U.S. International Trade Commission received a complaint from GlobalFoundries U.S. Inc. alleging violations of Section 337 in the importation and sale of certain semiconductor devices and products. Respondents include companies based in Israel, Japan, Italy, and the U.S. The Commission is soliciting comments on potential impacts to public health, competition, and consumer markets, particularly concerning remedial orders sought by the complainant. Comments should address potential replacement capacity, public welfare, and economic implications. Written submissions must be filed electronically within eight calendar days of publication.

Sources: www.federalregister.gov

Legislative Updates

Bill 8177 Focuses on the Security of Taiwan’s Undersea Infrastructure

Bill 8177 aims to bolster the security, resilience, and defense of Taiwan’s critical undersea infrastructure, specifically targeting threats posed by gray zone tactics of the People’s Republic of China. The bill was referred to the Committee on Foreign Affairs and the Committee on the Judiciary.

Sources: www.congress.gov

Bill 8170 Introduces Export Restrictions on Semiconductor Manufacturing Equipment

Bill 8170 proposes new export restrictions for semiconductor manufacturing equipment and related components. The bill is currently before the House Committee on Foreign Affairs.

Sources: www.congress.gov

Bill 8169 Calls for Expedited Changes to the Entity List

Bill 8169 would amend the Export Control Reform Act of 2018 to allow for expedited proposals to modify the Entity List, affecting additions, removals, or other changes. The measure was referred to the House Committee on Foreign Affairs.

Sources: www.congress.gov

Bill 8176 Mandates Strategic Dialogue with Moldova

Bill 8176 requires the Secretary of State to facilitate strategic dialogue with Moldova and submit a report on U.S. support for Moldova. The bill was referred to two committees, Foreign Affairs and Judiciary, for further consideration.

Sources: www.congress.gov

Bill 8182 Seeks Visa Restrictions for Religious Freedom Violations

Bill 8182 amends the Immigration and Nationality Act to restrict visa issuance to individuals involved in violations of religious freedom. The bill was referred to the House Committee on the Judiciary.

Sources: www.congress.gov

State Government News

Illinois Governor Presses Congress on E15 Policy Amid Tariffs and Global Instability

Governor JB Pritzker urged U.S. Congressional leaders to enact legislation permanently allowing year-round sale of E15 gasoline. The letter cites the negative effects of Trump Administration tariffs and global instability from the war in Iran, which have increased costs and reduced export markets for Illinois farmers. Pritzker called for congressional passage of the Tariff Refund Act of 2026 and highlighted collaborations with other governors to secure E10 and E15 waivers.

Sources: gov-pritzker-newsroom.prezly.com

What We're Reading This Week

• ‘Like relying on a drug dealer:’ the world’s dependence on oil and gas has exposed a dangerous vulnerability: Global reliance on oil and gas increases vulnerability to supply disruptions in the Strait of Hormuz.
• Zelenskiy offers Ukraine's maritime expertise with Strait of Hormuz: Ukraine proposes sharing maritime expertise to help secure oil transit through Hormuz amid renewed global tensions.
• From international outcast to mediator in Iran war, Pakistan's remarkable makeover: Pakistan positions itself as a mediator in the Iran conflict, shifting its foreign policy status.
• How Pakistan Wooed Trump and Styled Itself as a Peace Broker in Iran Conflict: Pakistan seeks to broker peace during Iran's conflict by winning support from the Trump administration.
• Opinion | The World Needs a Stronger U.N.: Editorial discusses the need for U.N. reform to address global crises and maintain effective multilateral diplomacy.

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