US President Donald Trump said on Monday that starting April 2, a 25% tariff will be imposed on all imports from any country that purchases oil or gas from Venezuela — a move aimed at punishing nations engaging economically with a government Trump described as “very hostile” to the United States. The measure, which comes despite the US itself continuing to import Venezuelan oil, is expected to deeply affect countries such as China, India, Spain, Russia, Singapore, and Vietnam — all recipients of Venezuelan crude. According to a 2024 report from the US Energy Information Administration, China alone accounted for…

India is set to uphold its one-million-ton sugar export quota for the current season, easing global concerns about potential export restrictions that recently drove up international prices. Despite a decline in production, the world’s second-largest sugar producer will retain sufficient stockpiles through the season-ending 30 September, the source noted, requesting anonymity due to the confidential nature of the information. Domestic supplies are reportedly adequate to meet demand for over two months until the next crushing season begins. India’s sugar exports for MY 2024/25 are projected at 3.7 MMT, as the government is expected to uphold export restrictions to prioritize domestic…

Brazilian President Luiz Inácio Lula da Silva began a four-day state visit to Japan on Monday, accompanied by a delegation of around 100 business leaders. The visit comes as both countries seek to deepen trade ties amid rising U.S. protectionism, particularly following recent tariff hikes imposed by President Donald Trump on steel and other imports. During his trip, Lula is expected to meet Japanese Prime Minister Shigeru Ishiba to explore opportunities for cooperation, including the joint development of biofuels ahead of the COP30 UN climate summit, which Brazil will host in the Amazon region this November. High on the agenda…

The European Commission has dismissed allegations of tax fraud in Moroccan tomato exports to the European Union, affirming that the imports comply with existing trade agreements. The clarification came after European Commissioner for Agriculture Christophe Hansen responded to a written inquiry by Spanish Member of the European Parliament Carmen Crespo. Crespo had raised concerns about Morocco allegedly exceeding its duty-free tomato export quota under the EU-Morocco Association Agreement. “These imports comply with the terms of the 2012 Association Agreement,” Hansen stated. He explained that Moroccan tomatoes entering the EU above the agreed quota are permitted as long as the applicable…

India’s growing ambition to establish itself as a global manufacturing hub in electronics, semiconductors, and automobiles is paving the way for expanded Japanese investment, according to a new industry report released on Sunday. Titled India’s Growth Story: Unlocking New Opportunities for Japanese SMEs, the report—jointly prepared by Shardul Amarchand Mangaldas & Co and the Federation of Indian Chambers of Commerce and Industry (FICCI)—highlights strategic areas where Indian and Japanese businesses can deepen cooperation. These include warehousing, packaging materials, cold chain infrastructure, dairy, defense, and aerospace. The report emphasizes the potential of technological synergy between Japanese enterprises and India’s expanding information…

Despite being one of the world’s top soybean producers, Canada currently imports all of its soy protein isolate — a key ingredient in numerous food products including protein bars, infant formula, and plant-based meat alternatives. That may soon change, as Ontario-based New Protein International sets out to build the country’s first large-scale facility capable of processing soybeans into soy protein domestically. The company, co-founded by farmer Martin Vanderloo and headquartered in Ontario, plans to establish the plant in Sarnia. Once operational, it will process 70,000 tonnes of soybeans annually and produce over 17,000 tonnes of soy protein and food-grade byproducts.…

Brazil’s Finance Minister Fernando Haddad has confirmed that the country is preparing for a wide-ranging negotiation on tariffs with the United States, with sugar and ethanol trade expected to be key points of discussion. Speaking to Reuters, Haddad acknowledged the complexity of the talks, given the broader trade frictions involving the U.S. The planned negotiations follow growing concerns over potential U.S. tariffs on Brazilian ethanol. Brazil’s Energy and Mining Minister Alexandre Silveira has described such tariffs as unreasonable, citing the long-standing history of sugar and ethanol trade between the two countries. Brazil, one of the world’s top sugar producers, primarily…

The United Arab Emirates (UAE) has solidified its position as a major force in the global vehicle trade, witnessing unprecedented growth in both imports and exports over the past five years. Central to this expansion is Dubai, propelled by the strategic capabilities of Jebel Ali Port and the Jebel Ali Free Zone (Jafza), which have enabled the UAE to emerge as a vital automotive hub. Between 2018 and 2023, the UAE recorded a substantial rise in vehicle imports, led by China, whose exports to the UAE surged by $3.31 billion. This growth far outpaced that of the United States, which…

The Association of Indian Medical Device Industry (AIMED) has urged the central government to reconsider discussions on reducing import duties on medical devices from the United States, citing concerns over potential harm to the domestic industry. The manufacturers’ association stressed the need for a balanced approach that safeguards local production while fostering fair trade. The appeal follows a recommendation by the Global Trade Research Initiative (GTRI) for India to negotiate reciprocal trade terms in ongoing Free Trade Agreement (FTA) discussions with the European Union. AIMED underscored the importance of securing better market access for Indian medical devices in global markets.…

The Philippines is actively pursuing India as a new nickel trade partner, a move that analysts interpreted as an effort to reduce dependence on China and strengthen Manila’s position as a key supplier for New Delhi’s expanding manufacturing industry. During his visit to India on Monday, Philippines’ Foreign Affairs Secretary Enrique Manalo highlighted his country’s interest in integrating India into its nickel sector. He emphasized that this partnership would not only diversify exports but also support the development of a value chain in processing and manufacturing. As the world’s largest exporter of nickel ore, a crucial component in lithium-ion batteries,…