Author: Editorial Desk

President Trump’s recent moves on trade and digital currencies have stirred global markets and raised economic tensions. On Friday, Trump ended all trade talks with Canada and warned of new tariffs on Canadian goods. Meanwhile, the EU is reviewing his wider tariff plans, including a proposed 10% tax on EU imports. The EU must decide whether to go along with an unfair trade deal or fight back, which could make the trade fight worse. Officials are reportedly exploring options like lowering tariffs on U.S. products or applying a tariff-rate quota system to stabilize relations and avoid severe consequences, including Washington’s…

Facing strong opposition from Japan, the European Union has formally submitted a proposal to impose global export restrictions on all eel species under the Washington Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES). The proposal, if adopted at the upcoming Conference of the Parties to the Convention on International Trade in CITES in Uzbekistan later this year, would take effect in June 2027. It mandates that exporting countries provide proof of legal capture and obtain an export permit for species, including the Japanese eel. Japanese Minister of Agriculture, Forestry and Fisheries, Shinjiro Koizumi, criticized the…

The Vietnam Chamber of Commerce and Industry (VCCI) has urged the State Bank of Vietnam (SBV) to eliminate the requirement for gold import-export licences under a draft decree currently under review. An official dispatch sent to the SBV by VCCI provided feedback on the draft decree amending and supplementing several articles of Decree 24/2012, which governs gold trading activities. The chamber argued that the licensing requirement for importing and exporting gold is redundant, as such licences are granted exclusively to gold production enterprises that are already under strict oversight by the SBV. VCCI emphasized that maintaining a separate licensing process…

Nike has signalled that it will raise consumer prices as it grapples with ongoing U.S. tariffs on Chinese imports, adding to cost pressures already challenging the athletic apparel giant. CEO Elliott Hill’s renewed focus on sports-led innovation and marketing is beginning to pay off, with Nike’s running category returning to growth in the fourth quarter after a period of decline. To reclaim lost market share in the fast-expanding running segment, Nike has ramped up investment in performance shoes such as the Pegasus and Vomero lines, while scaling back production of legacy sneakers like the Air Force 1. According to Citi…

European Commission President Ursula von der Leyen has called on EU leaders to spearhead a new trade cooperation framework with Asian countries, presenting it as a step toward reforming or even redesigning the World Trade Organization (WTO), which has long been strained by gridlock. Speaking at the EU summit in Brussels on Thursday, von der Leyen outlined options for deeper trade ties, notably with members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)—a regional trade pact that includes 11 Pacific Rim countries and the UK. She framed this potential cooperation as a response to the WTO’s prolonged dysfunction.…

Georgia-grown peaches are being exported to Mexico for the first time in nearly three decades. The achievement comes from a partnership between Genuine Georgia and Atlanta-based food safety technology firm Reveam, which made it possible to meet Mexico’s strict import rules. Since 1994, peaches from the southeastern U.S. have been banned from entering Mexico due to pest concerns. The restriction has now been overcome using Reveam’s proprietary Electronic Cold-Pasteurization (ECP) technology, approved by the U.S. Department of Agriculture (USDA). This advanced, chemical-free treatment uses electron beam technology to eliminate pests and pathogens while preserving the fruit’s quality and freshness. Through…

The Malaysian government plans to collaborate with Vietnam by sharing its well-established halal infrastructure, including certification systems and halal raw materials. This support aims to help Vietnam build capacity and expand its access to the international halal market. The proposal was discussed during the recent seminar titled ‘Accessing the Global Halal Market — Opportunities for Vietnamese Enterprises’ held in Hanoi. Malaysia’s Ambassador to Vietnam, Datuk Tan Yang Thai, underscored the importance of understanding halal standards and consumer expectations. He recommended a long-term, practical collaboration to help Vietnamese firms integrate into the global halal supply chain. “Malaysia encourages Vietnamese companies to…

Chinese Premier Li Qiang has warned that global trade tensions are deepening, citing a rise in protectionist measures and economic friction worldwide. Speaking at the opening of the World Economic Forum’s ‘Summer Davos’ in Tianjin on Wednesday, Li underscored the risks posed by increasing global economic fragmentation, in what was widely interpreted as a reference to trade policies initiated under U.S. President Donald Trump. “Protectionist measures are significantly increasing, and global economic and trade frictions are intensifying,” Li stated, while stressing that no country can thrive in isolation given the deeply interconnected nature of the global economy. Li advocated for…

South Africa’s export-driven economy is facing growing international pressure due to its heavy reliance on carbon-intensive industries, as global climate policies and carbon pricing mechanisms tighten. A new report from Net Zero Tracker warns that these developments could threaten trade, employment, and economic stability if the country does not align its energy and industrial policies with its net-zero commitment. The report highlights a critical disconnect between South Africa’s official 2050 net-zero target and its short-term policy choices, which continue to favor fossil fuel expansion and delay the coal phase-out. Researchers caution that this inconsistency is eroding global confidence in the…

Thousands of illegal wildlife products were seized across the European Union in 2023, highlighting the region’s ongoing role in global trafficking, according to a new report by TRAFFIC, a wildlife trade monitoring network. The seized items largely included critically endangered European eels, timber, and medicinal plants, indicating the EU’s ongoing position as a key transit and destination region in the illicit wildlife trade. Valued at approximately $23 billion annually, illegal wildlife trade is a major driver of biodiversity loss and organized transnational crime, according to the United Nations. TRAFFIC’s report calls for urgent enforcement measures, stronger public awareness, and international…