Author: Editorial Desk

The World Trade Organization (WTO) has warned that global goods trade is expected to shrink this year, driven by sharp declines in imports and exports from North America following the United States’ recent tariff overhaul. The WTO had previously projected steady trade growth for 2025 and 2026. However, after the US introduced widespread tariffs and its trading partners responded with retaliatory measures, the organisation’s economists have issued a ‘substantial downgrade’ to earlier forecasts. Global goods trade volume is now projected to fall by 0.2% in 2025, after a 2.9% increase last year. The downturn is largely attributed to North America,…

Amid escalating tensions with China, U.S. President Donald Trump has directed a national security investigation into potential new tariffs on all imports of critical minerals. The move comes as China, the world’s dominant supplier of many such minerals, imposes new restrictions on rare earth exports, raising concerns in Washington over national security and supply chain vulnerability. China is currently the leading producer of 30 out of the 50 minerals classified as ‘critical’ by the U.S. Geological Survey. Recent export curbs by Beijing, particularly on rare earth elements, have amplified longstanding concerns among U.S. policymakers, industry leaders, and academics about America’s…

China has appointed Li Chenggang as its new chief international trade negotiator, replacing Wang Shouwen, who played a key role in negotiating the 2020 trade agreement with the United States. The leadership change comes amid rising tariff tensions between the world’s two largest economies. The US recently escalated its trade policy by imposing tariffs of up to 145% on Chinese exports, while granting a 90-day tariff reprieve to most other nations. In response, Beijing announced retaliatory duties of 125% on American exports. The developments mark another chapter in the ongoing trade friction, with both sides hardening their positions. Although China…

FedEx has officially launched its first direct cargo flight from Singapore to the United States on Wednesday, Apr 15, to strengthen trade connectivity between Southeast Asia and North America. The new route, which commenced operations on March 31, operates six times weekly using Boeing 777 freighters and eliminates the need for transits through Japan, cutting transit time by up to a full day. Kawal Preet, President of FedEx Asia-Pacific, described the initiative as a strategic investment that supports the company’s long-term growth plan in the region. “As the region remains an essential manufacturing and export hub, this new service gives…

President Cyril Ramaphosa has acknowledged that South Africa remains vulnerable to trade tariffs but stressed that the country is actively working to strengthen its import and export resilience by expanding trade partnerships and improving local industry regulations. South Africa, like many other countries, has been affected by a turbulent trade war initiated by U.S. President Donald Trump. On 5 April, the United States imposed a 10% global tariff on imports, with plans to introduce steeper tariffs—ranging from 11% to 50%—targeting countries with significant trade imbalances. South Africa faced a potential 31% tariff under this policy. However, just before the additional…

Vietnam and China, two neighbouring nations with longstanding historical and cultural ties, are marking the 75th anniversary of diplomatic relations in 2025. The occasion highlights a period of deepening political trust and rapid expansion in trade and economic collaboration. Over recent years, bilateral trade between the two countries has witnessed significant growth. Vietnam has solidified its position as China’s top trading partner within ASEAN and, by 2024, will have emerged as China’s fourth-largest trading partner globally. At the same time, China remains Vietnam’s largest trading partner, the top source of imports, and the second-largest export market. Vietnam’s exports to China…

President Donald Trump has announced a 90-day suspension of elevated tariffs for most countries while sharply increasing tariffs on Chinese imports to 125%. The announcement, made on April 9, comes amid growing global economic uncertainty and rising pressure from international partners, domestic lawmakers, and financial markets. The temporary pause halts the newly introduced ‘reciprocal tariffs,’ which had only taken effect the previous day. The decision aims to ease fears of economic disruption triggered by the sweeping trade measures. Despite the pause, a 10% baseline tariff will still apply to most imports, and the existing 25% duties on steel, aluminum, and…

During the current global trade disruptions and shifting geopolitical dynamics, France is calling for an acceleration of economic cooperation by trade ties with Philippines. French Minister Delegate for Foreign Trade, Laurent Saint-Martin, emphasised the importance of reinforcing bilateral trade as protectionist policies—especially those under the Trump administration—reshape the global market. Speaking during his official visit to Manila on April 10 and 11, Saint-Martin highlighted the urgency for like-minded nations to strengthen economic ties. “The current international context and situation should make us accelerate… We were below the potential. So what we have to do is to work,” he said, encouraging…

Vietnam and India are poised to deepen cooperation in the textile and garment sector as both countries prepare for potential challenges from the United States’ new reciprocal tariff policy, said Bùi Trung Thướng, Trade Counselor at the Vietnam Trade Office in India. Vietnam, the world’s third-largest textile and garment exporter, with exports valued at $44 billion in 2024, heavily relies on imported materials—65% of which come from China. India, by contrast, is a leading supplier of raw materials like cotton and cotton yarn and has a long-established textile industry supported by a wide array of natural and synthetic fibers. India’s…

Pattaya tourism sector is facing mounting challenges during Thailand’s traditional low season, intensified by global economic uncertainties and sharp fluctuations in the Thai baht. Despite steady international arrivals, local businesses — including hotels, tour operators, and retailers — are under pressure as the strengthening baht raises operational costs and dampens tourist spending. In April 2025, the baht fluctuated significantly, briefly dipping to 34.98 per US dollar before rebounding to 34.55. The shift was influenced by global investor sentiment moving toward safe-haven assets amid concerns of economic instability, including the potential for a US-led trade war. As a result, Thai bond…