Author: Editorial Desk

President Trump declared that he will officially impose a 25% tariff on steel and aluminum imports to U.S on Monday. The policy which notably includes imports from neighboring Canada and Mexico, will be followed by further import duty edicts later in the week. Trump made these remarks during a news conference aboard Air Force One, while en route to New Orleans. “Any steel coming into the United States is going to have a 25% tariff,” Trump stated. He also asserted that aluminum imports would face comparable trade penalties. The President further affirmed his plans to implement ‘reciprocal tariffs’, likely by…

China’s innovative green products, from electric vehicles to dual-fuel ships, are set to play a crucial role in driving the country’s foreign trade growth in 2025, according to exporters and market analysts. These green tech exports are expected to strengthen China’s position in global supply chains amid evolving trade dynamics. Despite external challenges, China’s foreign trade reached a record 43.85 trillion yuan ($5.98 trillion) in 2024, reflecting a 5 percent year-on-year increase. Exports rose by 7.1 percent to 25.45 trillion yuan, with mechanical and electrical product exports growing by 8.7 percent and accounting for 59.4 percent of total exports. Notably,…

Pakistan’s almond exports remain limited despite the high quality of produce from Balochistan, industry experts highlighted during a seminar organized by the Trade Development Authority of Pakistan (TDAP). The seminar, titled Global Trade Analysis of Almonds: Production and Reasons for Decline, shed light on the challenges facing Pakistan’s almond industry. Global almond production reached 1.45 million tonnes in 2023-24, with Balochistan contributing 93% of Pakistan’s output. However, the country’s total production was only 18,106 tonnes, forcing it to import 3,278 tonnes last year, reinforcing its position as a net importer rather than an exporter. TDAP focal person Zainul Abideen pointed…

The Vietnam-Korea Plus Joint Working Group convened its third online meeting on February 7, discussing strategies to bolster economic cooperation and achieve the shared goal of increasing bilateral trade to $150 billion by 2030. Held in Seoul, the meeting was attended by Kim Jong Cheol, Director-General for the International Trade Relations Bureau under South Korea’s Ministry of Trade, Industry, and Energy, and Do Quoc Hung, Director of the Asia-Africa Market Department at Vietnam’s Ministry of Industry and Trade, alongside other officials. Both sides reviewed the current trade and investment landscape, exchanged views on economic developments, and explored new areas of…

In an era of rapid economic shifts and digital transformation, The Times Group’s, ET NOW Global Business Summit 2025 is set to ignite powerful conversations on the future of business and policy. This landmark gathering will bring together visionary leaders, policymakers, and innovators to shape the next phase of global growth. As the architect of India’s economic and global resurgence, Prime Minister Modi will deliver a keynote that will provide critical insights into India’s expanding global footprint, sustainable economic progress, and the role of collaboration in an interconnected world. As the architect of India’s economic resurgence, his words will not…

The government of Bangladesh has officially declared handicrafts as the product of the year 2024, aiming to highlight the contribution of women in the sector, boost exports, and diversify the country’s export basket, which is largely dominated by the garments industry. The announcement was made through a notification issued by the commerce ministry yesterday. This initiative aligns with the Export Policy 2021-24, which designates an item each year as the ‘product of the year’ to enhance its visibility in the global market. A senior commerce ministry official stated that the recognition is part of a broader strategy to promote handicrafts…

Mexico has officially rescinded its proposed ban on biotech corn imports, resolving a trade dispute with the United States under the United States-Mexico-Canada Agreement (USMCA). The move follows a February 2023 presidential decree that faced a legal challenge from the United States Trade Representative (USTR) and has been welcomed by advocates of US corn exports. On February 5, Mexico formally declared ineffective two measures that had been successfully contested by the USTR through the USMCA. These included an immediate prohibition on genetically engineered (GE) corn in dough and tortillas and a directive for Mexican agencies to gradually phase out GE…

Vietnam’s rice exports reached a record 9.18 million tonnes in 2024. However, to maintain this growth amid declining prices and intensified competition, businesses are being urged to improve product quality and explore new export markets. Rising Supply Pressures The US Department of Agriculture (USDA) projects global rice production for the 2024-25 season to reach 533.8 million tonnes, an increase of 11.6 million tonnes from the previous season. Total global supply is expected to rise by 10.6 million tonnes to 713.1 million tonnes, with global rice trade forecasted to hit a record 57.2 million tonnes due to increased exports from multiple…

The Council for Leather Exports (CLE) has unveiled an ambitious plan to elevate India’s leather market, setting a target of $47 billion by 2030, with a specific focus on achieving $13.7 billion in exports. This initiative aligns with India’s broader strategy to enhance its global trade footprint and boost domestic manufacturing under the ‘Make in India’ and ‘Atmanirbhar Bharat’ programs. A significant step towards achieving this goal is the Delhi International Leather Expo (DILEX) 2025, scheduled for February 20-21 at Yashobhoomi, ICC Dwarka, New Delhi. Designed as a premier B2B platform, the event will facilitate interactions between manufacturers and international…

This industry, which enables the global movement of goods worth $10.6 trillion annually, is undergoing a major transformation, with 20 million logistics jobs expected to be automated by 2030. This article, Robotics and AI in Logistics, explores the nature and extent of these changes. As we know, the global logistics market was valued at $8.96 trillion in 2023; however, credible studies predict that this figure will rise to $21.91 trillion by 2033. This transformation is driven by evolving lifestyles, global population growth, and advancements in automation, artificial intelligence (AI), and next-generation supply chain strategies. 1. Key Changes Robotics & AI…