U.S. President Donald Trump has claimed that Prime Minister Narendra Modi personally assured him India would phase out Russian oil imports completely by the end of this year. This follows Trump’s earlier assertion last week that India had agreed to halt its purchases of Russian crude. Speaking at the White House alongside NATO Secretary-General Mark Rutte, Trump said the move would be gradual but decisive. “India, as you know, told me that they would stop. It is a process; you can’t just stop it. But by the end of the year, they will be down to almost nothing. That’s a…

India’s Commerce and Industry Minister Piyush Goyal has urged nations of the Global South to unite and present a collective voice to address rising uncertainty, inequality, and distrust in the global trading system. Speaking at the 16th Session of the United Nations Conference on Trade and Development (UNCTAD) in Geneva on Wednesday, Goyal warned that the rules-based multilateral order was being undermined by unilateral measures, protectionist barriers, and non-market practices. Goyal said the world was facing “an era of profound trust deficit” that extended across multilateral institutions, international organizations, and sovereign states. He cautioned that tariff and non-tariff barriers, as…

U.S. President Donald Trump said on Tuesday that he expects to reach a “good” trade agreement with Chinese President Xi Jinping during their planned meeting at the Asia-Pacific Economic Cooperation (APEC) summit in South Korea next week. However, he cautioned that the encounter could still be called off. Speaking at a lunch with Republican senators at the White House, Trump said, “So now we’re going to have a fair deal, and I think we’re going to have a very successful meeting. Certainly, there are a lot of people who are waiting for it.” He added, however, “Maybe it won’t happen.…

India is preparing for potential increases in fertilizer prices ahead of the crucial rabi (winter) crop season following China’s suspension of urea and specialty fertilizer exports from October 15, 2025, a senior industry official confirmed on Tuesday. China, which had resumed exports between May 15 and October 15 with heightened inspections, has now halted shipments indefinitely. The suspension affects global markets and covers key specialty fertilizers such as Technical Monoammonium Phosphate (TMAP) and urea-solution products like AdBlue, along with conventional fertilizers like DAP and urea. “China has closed the export window from October 15, not only for India but the…

Digital tools are reshaping international trade, enabling Nigerian businesses to compete globally. As Nigeria diversifies away from oil reliance, non-oil exports, including agricultural products, textiles, and finished goods, are emerging as key growth sectors. For small and medium enterprises (SMEs), which form a large part of Nigeria’s economy, digital tools are increasingly essential for navigating the complexities of international trade. Historically, Nigerian SMEs faced challenges such as high transaction costs, limited market access, weak infrastructure, and regulatory hurdles, which restricted their participation in export trade. Today, digital solutions are changing that. Businesses in Lagos, for example, can reach customers in…

Global trade grew at its fastest pace in more than a decade during the first half of 2025, driven largely by the Asia Pacific region, according to DHL’s latest Global Connectedness Tracker. Developed in partnership with New York University’s Stern School of Business, the report offers an early and detailed assessment of how trade and investment are adjusting to changing U.S. policies and global market conditions. The Tracker found that six of the ten fastest-growing trade routes originated from Asian economies, underscoring the region’s growing influence in global supply chains. Among the world’s 50 largest trading nations, Hong Kong SAR,…

U.S. President Donald Trump and Australian Prime Minister Anthony Albanese have signed a major critical minerals pact to strengthen cooperation. This deal marks Washington’s efforts to reduce reliance on China’s near-monopoly over global supply chains. The agreement was finalized on Monday during Albanese’s visit to the White House after months of negotiation. Under the agreement, the United States and Australia will jointly invest more than $3 billion over the next six months in critical mineral projects. It includes the construction of an advanced gallium refinery in Western Australia capable of producing 100 metric tons per year. The recoverable resources from…

A Dutch semiconductor manufacturer, Nexperia, has become the unexpected flashpoint in an escalating trade dispute between the United States and China, raising alarms across the global automotive sector. The conflict threatens to stall vehicle production worldwide and drive car prices even higher. Nexperia, a key supplier of transistors, diodes, and other automotive semiconductors, produces chips essential for functions ranging from fuel injection and braking systems to power seats and lighting. Without these components, vehicle assembly lines could come to a halt. The company ships more than 110 billion products annually and employs about 12,500 people across Europe, Asia, and the…

A massive fire at the cargo complex of Dhaka’s Hazrat Shahjalal International Airport has caused severe damage to Bangladesh’s garment export sector during the peak shipping season. The blaze, which broke out on Saturday afternoon in the cargo import area, destroyed large quantities of raw materials, finished apparel, and product samples awaiting shipment. Faisal Samad, director of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), described the aftermath as “devastating,” estimating total losses could reach $1 billion. “The entire import section has been reduced to ashes,” he said after inspecting the site. Smoke continued to billow from the ruins on…

Tanzania has reinforced its global agricultural reputation by becoming the world’s second-largest pigeon pea producer. The output is expected to exceed 400,000 tons during the 2024/2025 farming season, according to the Cereals and Other Produce Regulatory Authority (COPRA). This achievement places the East African nation just behind India in global production, highlighting its growing importance in the international pulse market. In the previous season, Tanzania exported around 350,000 tons of pigeon peas to India, its largest overseas market, demonstrating resilience despite subdued global prices. Tanzanian farmers continue to benefit from strong export volumes, driven by sustained demand from India’s food…