The Export-Import Bank of the United States (U.S. Exim) is falling behind its international counterparts due to outdated content rules, a slow approval process, and insufficient staffing, according to the bank’s latest annual competitiveness report and feedback from exporters and lenders. Global export credit agencies (ECAs) provided a total of $115.4 billion in medium- to long-term (MLT) export credit in the past year, marking a 20% rise from 2023. China led the list with $23.5 billion in MLT support, followed by Germany ($18.6bn), Italy ($16.9bn), France ($12.1bn), and Korea ($9.2bn). U.S. Exim ranked seventh, issuing $5.9 billion, up from $4.7…

U.S. President Donald Trump announced plans on Tuesday to impose a 50% tariff on copper imports, though no timeline was given for implementation. The proposal, made during a cabinet meeting, was confirmed by Commerce Secretary Howard Lutnick, but no executive orders were signed at the time. The proposed copper tariff comes as part of a broader strategy to realign global trade, following Trump’s previous levies on steel, aluminum, and automobiles. The announcement caused copper prices to surge by 8.7% to $5.47 per pound and boosted shares in mining firm Freeport-McMoran by 4.6%. Canada, which exported $9.3 billion worth of copper…

A top United Nations trade official has cautioned that the United States’ decision to delay the expiration of a tariff suspension could deepen global trade uncertainty and disrupt long-term investment plans, particularly in developing economies. Pamela Coke-Hamilton, Executive Director of the International Trade Center (ITC), voiced concerns at a UN press briefing in Geneva, stating that the latest extension of the tariff suspension, now pushed to August 1, adds to growing instability in the international trade landscape. The suspension had originally been due to expire shortly but was granted a few extra weeks. While the initial 90-day pause on so-called…

Tanzanian businesses are being encouraged to forge strategic partnerships with companies from the Republic of Korea, as both nations seek to deepen economic trade ties and address trade imbalances. Speaking at the Republic of Korea Business Day during the 49th Dar es Salaam International Trade Fair (DITF), Minister of State for Planning and Investment Prof Kitila Mkumbo highlighted the transformative potential of leveraging Korean technology and expertise to modernize Tanzanian industries. “The Republic of Korea possesses advanced technologies that Tanzanian businesses can leverage to enhance operations and boost competitiveness,” Prof Mkumbo said. He emphasized that technology-driven joint ventures would not…

India’s electronics manufacturing sector is facing serious disruption following the government’s decision to restrict the import of gold compounds, further intensified by China’s earlier move to limit exports of rare earth magnets and capital goods. The Directorate General of Foreign Trade (DGFT), in a notification dated June 17, reclassified imports of colloidal precious metals and compounds from the ‘free’ category to ‘restricted,’ effectively curbing access to critical materials such as Potassium Gold Cyanide (PGC). This compound, along with other gold-based materials, plays an essential role in electronics manufacturing, particularly in motherboards, semiconductors, connectors, and printed circuit boards (PCBs). The India…

The United States nears the end of a 90-day pause on proposed tariffs, with President Donald Trump signaling duties could begin as early as August 1. The move, part of Trump’s ‘reciprocal’ tariff strategy, aims to reduce U.S. trade deficits and revive domestic industry. But it’s escalating global protectionism, which could lead to global economic disruption. According to Bloomberg, the tariffs could push average U.S. import duties to 20%, up from 3% when Trump took office. Though the administration claims the levies target foreign exporters, economists warn that U.S. importers, and ultimately consumers, bear the brunt of the cost. Critics…

Pakistan and the United States have concluded a crucial round of trade negotiations, which could potentially reshape the future of Pakistan’s key export sectors. The four-day talks, held in Washington, were led by Pakistan’s Commerce Secretary Jawad Paul. This move comes against the backdrop of a proposed 29% U.S. tariff on Pakistani exports and focuses on finalizing a long-term compensatory duty agreement aimed at safeguarding Pakistan’s textile and agricultural exports in the U.S. market. The temporarily suspended tariff was scheduled to be reinstated if no agreement was reached by July 9. With the deadline approaching, the negotiations were critical for…

As the Trump administration’s 90-day reciprocal tariff pause nears its July 8 deadline, Bangladesh is set to hold critical talks today and tomorrow with the United States Trade Representative (USTR) in Washington, aiming to secure reduced tariff rates and preserve its export competitiveness in the U.S. market. Commerce Adviser Sk Bashir Uddin has flown to Washington to attend the meeting, joining National Security Adviser Khalilur Rahman, who is already engaged in negotiations. The main agenda is to challenge the proposed 37% reciprocal tariff on Bangladeshi goods, an increase from the previously imposed 16%, raising the total potential duty to 53%.…

Wix and Alibaba have entered a strategic partnership designed to accelerate global growth opportunities for small and medium-sized enterprises (SMEs) across more than 200 countries. The collaboration is set to simplify international trade and expand digital commerce capabilities for merchants and suppliers through a suite of integrated solutions. Central to the partnership are three initiatives. First, the Alibaba Seller App will be integrated with the Wix Marketplace, enabling Wix merchants to become Global Gold Suppliers and access Alibaba’s global wholesale network. Second, a curated sourcing marketplace, powered by Alibaba, will allow Wix merchants to discover suppliers, explore new products, and…

Namibia has officially opened its market to fresh, frozen, and chilled poultry imports from the United States. The move, effective from July 1, allows U.S. exporters to access a market estimated at $15 million in value, giving a major boost to American poultry producers. U.S. Secretary of Agriculture Brooke L. Rollins welcomed the announcement, stating, “The announcement today is a win for farmers, a win for exporters, and a win for freedom-loving nations who want access to safe, high-quality U.S. food.” The agreement also includes the removal of restrictive export and transit permit requirements for processed poultry, restoring a trade…