Author: Editorial Desk

U.S. Trade Representative Jamieson Greer has defended the Trump administration’s recent imposition of international tariffs, stating they are legally and politically justified, even when motivated by non-economic concerns. Speaking on CBS’ Face the Nation, Greer said the White House acted within its legal authority under the 1977 International Emergency Economic Powers Act (IEEPA) in levying a 50% tariff on Brazilian imports last week. The move, largely attributed to Brazil’s social media restrictions and the ongoing criminal trial of former President Jair Bolsonaro, has drawn international criticism. Bolsonaro, an ally of Donald Trump, is accused of conspiring to overturn Brazil’s 2022…

India’s gem and jewellery sector is bracing for a major setback as a new 25% U.S. tariff on imported Indian jewellery is set to take effect from August 7. This development comes amid already elevated domestic import duties on gold and rising raw material costs, further squeezing profit margins and challenging the industry’s global competitiveness. The United States remains India’s largest export destination for gems and jewellery, accounting for over 25% of the sector’s overseas earnings. The new tariff, part of Washington’s broader trade policy recalibration, is expected to make Indian products substantially more expensive in the U.S. market, dampening…

Thailand’s rice exporters have expressed limited concern over the newly imposed 19% U.S. tariff on Thai imports, which took effect on August 1, 2025, under an executive order signed by U.S. President Donald Trump. Industry leaders say broader market trends, such as global oversupply and shifting trade dynamics, pose a greater challenge than the tariff itself. Charoen Laothamatas, President of the Thai Rice Exporters Association, stated that the tariff, reduced from a previously proposed 36%, does not significantly disadvantage Thailand compared to Vietnam, which faces a 20% duty. He noted that Thai jasmine rice, which dominates the U.S. market, is…

Slovenia has become the first European Union member state to ban the import, export, and transit of weapons and military equipment to and from Israel. The Slovenian government announced the arms trade ban on Thursday, citing the severe humanitarian crisis in Gaza and the European Union’s lack of unified action regarding Israel’s ongoing war. Prime Minister Robert Golob described the measure as a demonstration of Slovenia’s commitment to international law and human rights. “Responsible states must act, even if it means stepping ahead of others,” he said, framing the move as a moral imperative in response to the situation in…

Vietnamese and Chinese enterprises have signed a strategic agreement to launch a new maritime trade corridor, titled ‘Two Ports, One Route,’ which will directly connect Weifang Port in China’s Shandong province with Long An International Port in Tay Ninh province, Vietnam. The move is designed to increase two-way cargo flow and deepen bilateral trade ties. The cooperation agreement involves three key partners: Long An International Port from Vietnam, SPG Bohaiwan Port, and Bohwa Shipping from China. The initiative will focus on strengthening port operations, maritime transport, and integrated logistics services. Key components of the plan include the expansion of container…

Tajikistan has unveiled a comprehensive initiative to boost its export capabilities, with a strong focus on empowering small producers and farmers. Backed by the World Bank, the export support program aims to equip over 200,000 small-scale farms across the country with the knowledge, infrastructure, and support necessary to access international markets. Khurshed Zuhurzoda, First Deputy Director of the Export Agency, announced that export support centers and export schools will be established in key regions. These institutions will provide hands-on training in international trade, consulting on certifications and customs procedures, assistance in identifying foreign partners, and strategic guidance for entering new…

The upcoming Afreximbank Africa Trade Center in Bridgetown, Barbados, is being positioned as a vital engine for advancing economic cooperation between Africa and the Caribbean. During the opening session of the AfriCaribbean Trade and Investment Forum (ACTIF) in Grenada on Monday, regional leaders emphasized the center’s strategic importance to fostering deeper trade, investment, and innovation ties across both regions. Professor Benedict Oramah, the outgoing President of the African Export-Import Bank (Afreximbank), described the Bridgetown facility as a flagship initiative aimed at transforming Africa–Caribbean business collaboration. “With three towers, this center will host innovation labs, digital trade platforms, SME incubation, a…

The Korea Trade Insurance Corporation (K-SURE) has signed a $200 million financing agreement with global commodities firm Trafigura to support the export expansion of South Korea’s shipping industry. The move introduces a pioneering financial model using time charter agreements to extend mid- to long-term credit, marking the first such initiative by an Export Credit Agency (ECA). Under the agreement, K-SURE will provide financial backing to cover time charter fees Trafigura pays to Korean shipping firms, aiming to bolster their participation in global freight operations. Trafigura, which charters vessels worldwide, plans to deepen its engagement with Korean shipping companies as part…

The recent Free Trade Agreement (FTA) between India and the United Kingdom has been hailed as a major boost for India’s pharmaceutical industry. Signed in the presence of Prime Minister Narendra Modi and UK Prime Minister Keir Starmer, the deal, officially termed the Comprehensive Economic and Trade Agreement, aims to more than double bilateral trade from $56 billion to $120 billion by 2030. Pharma industry stakeholders, including the Pharmaceuticals Export Promotion Council of India (Pharmexcil), have welcomed the FTA’s provisions that favour drug manufacturers, especially in the areas of cost efficiency and global expansion. Pharmexcil Chairman Namit Joshi highlighted the…

The European Union’s automotive sector welcomed a new trade agreement with the United States as a step toward de-escalation, though it warned of ongoing challenges due to sustained U.S. tariffs on EU vehicles. German automakers in particular were hit hard on Monday, with shares of Porsche, Volkswagen, BMW, and Mercedes-Benz all falling by over 3% in trading. While the agreement eased recent tensions in transatlantic trade, the 15% U.S. import tariff on EU cars remains a major burden. The European Automobile Manufacturers’ Association (ACEA) acknowledged the deal as a positive shift that reduces uncertainty, but stressed that the tariffs “will…