The European Commission has adopted the EU-Mercosur and EU-Mexico trade agreements, a move welcomed by the European wine sector through its representative body, the European Committee of Wine Companies (CEEV), in Brussels. The decision comes at a time when international trade faces mounting uncertainty due to geopolitical and economic challenges. The CEEV, which represents the interests of European wine producers, described the agreements as crucial for securing and diversifying the European Union’s trade relationships. Marzia Varvaglione, President of CEEV, stressed the importance of swift ratification by the European Parliament and the Council, arguing that the sector and consumers alike stand…

World Trade Organization (WTO) Director-General Ngozi Okonjo-Iweala has warned that the global trading system is facing its most serious disruption since World War II, as the share of global trade conducted under the organization’s Most Favored Nation (MFN) principle has dropped to 72% from around 80%. According to WTO data cited by Reuters, the decline follows U.S. President Donald Trump’s renewed push to impose higher tariffs on most trading partners. The MFN principle, a cornerstone of the WTO framework, requires member states to treat each other equally in terms of tariffs and access. Its weakening raises concerns about the 30-year-old…

Global trade is being reshaped not only by tariffs and geopolitical tensions but also by a deeper, structural challenge: systemic policy unpredictability, according to the latest Global Trade Update from the United Nations Conference on Trade and Development (UNCTAD). The report stresses that uncertainty is no longer a temporary disruption but a persistent feature of the global economy. This unpredictability is raising costs, unsettling financial markets, and placing a disproportionate burden on developing and least developed countries. UNCTAD’s data reveals that advanced economies have largely maintained stable import flows, while developing nations have faced sharper fluctuations. For the least developed…

The Federal Association of German Steel Recycling and Disposal Companies (BDSV) and the Association of German Metal Traders and Recyclers (VDM) have cautioned against proposals to restrict exports of recycled steel, arguing that such measures would harm both the European steel industry and global climate goals. The warning follows a new study commissioned by the two associations and conducted by the Ernst Abbe University of Applied Sciences in Jena, Germany. The study, released in response to discussions within the European Action Plan for Steel and Metals (SMAP), concludes that export bans or barriers would distort markets, provoke retaliatory measures, and…

The Indian tea industry has voiced concern over the United States’s higher tariffs on Indian products, warning that the move could significantly impact exports of the beverage to the American market. The Indian Tea Association (ITA), a leading industry body, highlighted that the U.S. is an important buyer of Indian tea. In 2024, India exported 17 million kilograms of tea to the United States, with shipments reaching 6.26 million kilograms up to May this year. The new measure, introduced by the administration of U.S. President Donald Trump, adds an additional 25% tariff on Indian goods in response to New Delhi’s…

Armenia and China have pledged to strengthen the trade turnover and mutual investments, according to a joint statement issued on the establishment of a strategic partnership. The announcement, released by the Armenian government’s press service, highlights both nations’ readiness to expand economic cooperation across multiple sectors. Key initiatives include promoting Armenian exports to China, enhancing their market penetration, and attracting Chinese investments into Armenia. Both sides expressed commitment to broadening collaboration in infrastructure, information technology, renewable energy, agriculture, and industry. The Intergovernmental Commission on Economic Cooperation was acknowledged as a central platform for advancing bilateral relations, with the parties agreeing…

Nepal conducted foreign trade with more than 164 countries in the fiscal year 2024/25, but the country struggled with large trade deficits against most of its partners. According to the Department of Customs, Nepal achieved a trade surplus with only 37 countries, while the overall trade imbalance reached Rs. 1,527.09 billion. Despite the gap, Nepal’s exports showed a sharp rise, climbing 81.80% compared with the previous year to Rs. 277.03 billion. This growth was overshadowed by imports, exposing structural weaknesses in domestic production and the lack of export diversification. The highest trade surplus was recorded with Afghanistan at Rs. 686…

India’s trade minister has said the country will not “bow down” to the United States following Washington’s decision to impose steep new tariffs on Indian exports, vowing instead to focus on new markets. Speaking at a construction industry event in New Delhi on Friday, Piyush Goyal said India remained open to trade deals but would not compromise its position. “We are always ready if anyone wants to have a free trade agreement with us. But India will neither bow down nor ever appear weak,” he declared. “We will continue to move together and capture new markets.” The comments came after…

Vietnam’s outlook for imports, exports, and cargo throughput via seaports is expected to remain favorable in the coming months, supported by competitive tariff advantages and expanding Vietnam logistics operations. The United States currently applies a reciprocal tariff rate of 20% on Vietnam, considerably lower than China’s 55% and India’s 25%, and aligned with Bangladesh. Vietnamese exporters are also capitalizing on the country’s extensive free trade agreement network, enabling more flexible and efficient operations. As the global economy recovers, demand for trade is projected to rise, further stimulating import-export activity and the wider logistics supply chain. Shinhan Securities forecasts that higher…

Tanzania’s pigeon pea market is under pressure from a sharp fall in prices, driven by a global surplus and India’s policy of extending duty-free imports. According to the Tanzania Mercantile Exchange (TMX), the combination of abundant supply from East Africa and Canada and New Delhi’s continued open import window has created downward pressure on prices. TMX Chief Executive Officer Godfrey Malekano said that despite the decline, India remains a crucial market for Tanzanian farmers. “Global supply has outpaced demand, and this has inevitably dragged prices down,” he explained. “For our farmers, the Indian market remains a lifeline, but the challenge…