For the first time in history, Costa Rica exported more coffee to Europe than to the United States in 2024, according to data from the country’s Foreign Trade Promoter (PROCOMER). European countries imported 27,494 tons of Costa Rican coffee, accounting for 42.6% of total shipments, while the US received 25,759 tons, representing 40% of exports. Although Costa Rica’s total coffee export volumes have declined slightly over the past four years, farmers are shifting their focus to higher-quality beans, responding to growing demand for premium and specialty coffee in Europe and Asia. Belgium, Switzerland, and Germany emerged as the leading European…

President Donald Trump’s increased tariffs on all US steel and aluminum imports came into effect on Wednesday, marking a significant milestone in his administration’s effort to reshape global trade norms in favour of the United States. The decision restores a 25% tariff on all steel and aluminum imports and extends duties to hundreds of downstream products made from these metals, including nuts, bolts, bulldozer blades, and soda cans. International Response The European Commission swiftly announced countermeasures, stating that it would impose retaliatory tariffs on €26 billion ($28 billion) worth of US goods from next month. Close allies such as Canada,…

Atradius DSB is set to introduce a new financial product aimed at strengthening critical mineral imports into the Netherlands, aligning with other export credit agencies (ECAs) in addressing long-term supply concerns. The Dutch ECA has initiated a pilot phase for a loan guarantee facility supporting foreign raw material projects, particularly benefiting industries such as photovoltaic solar and wind power manufacturing. The product is expected to be formally launched later this year. Supporting Renewable Energy and Industrial Needs According to Stephan Naber, head of SMEs at Atradius DSB, the initiative primarily focuses on securing essential materials and biofuels for the Netherlands…

The Federation of Indian Export Organisations (FIEO) has launched the SheTrades India Hub, an initiative aimed at empowering women entrepreneurs and strengthening India’s export ecosystem, with the goal of achieving $1 trillion in exports by 2030. The initiative, introduced in collaboration with the International Trade Centre (ITC) and supported by the UK Government’s SheTrades Commonwealth Program, positions FIEO as the host institution for the 20th SheTrades Hub globally. Empowering Women Entrepreneurs The SheTrades India Hub serves as a comprehensive resource platform designed to support women entrepreneurs through capacity-building workshops, tailored training on international trade practices, mentorship programs, and business matchmaking…

Ontario Premier Doug Ford has announced a 25% increase in electricity tariffs for 1.5 million American consumers in Minnesota, New York, and Michigan in response to U.S. President Donald Trump’s escalating tariff measures against Canada. “I will not hesitate to increase this charge. If the United States escalates, I will not hesitate to shut the electricity off completely,” Ford said at a news conference in Toronto. “Believe me when I say I do not want to do this. I feel terrible for the American people who didn’t start this trade war. It’s one person who is responsible, it’s President Trump.”…

Pakistan has decided to halt the domestic rice fumigation with methyl bromide, shifting the responsibility to importing countries in line with global trade standards. The move aims to reduce export disruptions, particularly in European markets, and enhance the competitiveness of Pakistani rice. The decision was taken during a high-level meeting chaired by Federal Secretary Waseem Ajmal Chaudhry. Authorities expect that eliminating in-country fumigation will lower export costs and improve market access. Additionally, the government plans to introduce stricter scientific monitoring of import conditions within two weeks to prevent further trade barriers. The Ministry of National Food Security & Research has…

US President Donald Trump has refrained from confirming whether the US economy is heading toward a recession or experiencing inflation, following recent adjustments in tariff policies targeting some of its key trading partners. When questioned about the possibility of a recession this year, Trump characterized the economic landscape as undergoing a ‘period of transition.’ Meanwhile, Commerce Secretary Howard Lutnick assured that the US economy would not contract, though he acknowledged that the prices of some goods might increase. The remarks come after a turbulent week for US financial markets, with investors reacting to the administration’s shifts in trade policy. The…

NATO countries in Europe more than doubled their arms imports over the past five years, with over 60% of these acquisitions coming from the United States, according to a report released on Monday by the Stockholm International Peace Research Institute (SIPRI). The report’s findings coincide with European Union states’ recent commitment to strengthening the continent’s defence capabilities amid a shift in U.S. foreign policy under President Donald Trump. Surge in European Arms Imports Between 2020 and 2024, European NATO members increased their arms imports by 105% compared to the previous five-year period. This sharp rise reflects “the rearmament taking place…

Negotiations for a Free Trade Agreement (FTA) between India and the European Union (EU) face significant challenges due to the EU’s stringent environmental regulations, digital trade restrictions, and demands for broader market access. As the tenth round of talks begins in Brussels, India is pushing for exemptions to mitigate the impact of EU policies, while European negotiators seek binding commitments in multiple areas. The Global Trade Research Initiative (GTRI) highlighted that the EU’s carbon tax under the Carbon Border Adjustment Mechanism (CBAM) could impose tariffs of 20-35% on Indian exports of steel, aluminum, and cement, even if an FTA is…

The Trade Remedies Authority of Vietnam has advised wood enterprises against using imported peeled veneer from China in the production of plywood cores, aiming to prevent misrepresentation of Vietnamese origin in plywood exports to the United States. The authority also urged businesses to remain vigilant in monitoring and inspecting trade activities to mitigate risks of illegal transshipment. Vietnamese exporters face potential anti-dumping or countervailing duty investigations from the US, following scrutiny over the origin of plywood materials. In June 2020, the US Department of Commerce (DOC) initiated a probe into trade remedy evasion concerning all plywood products imported from Vietnam.…