Author: News Desk

South Africa’s Agricultural Business Chamber (Agbiz) has voiced optimism regarding China’s plans to boost its imports of agricultural products from South Africa. The development stems from remarks by Wu Peng, the current Chinese Ambassador to South Africa, who affirmed that the Chinese government supports greater access for South African agricultural and industrial products to enter China’s market. “South Africa must also be part of this conversation. China’s interest in South African agricultural products — is a starting point for a deeper trade conversation.” Ambassador Wu Peng wrote on social media. China is a key leader in global agricultural imports. In…

Saudi Arabia and Azerbaijan finalized MoUs on Tuesday to foster economic ties by promoting the growth of small and medium-sized enterprises. The initiative emphasizes the two nation’s dedication to advancing trade and investment relations. During the 8th session of the Saudi-Azerbaijani Joint Committee in Riyadh, Saudi Arabia’s Small and Medium Enterprises General Authority, Monsha’at, and Azerbaijan’s Small and Medium Business Development Agency, KOBIA, finalized the memorandum of understanding to strengthen collaboration. The meeting was jointly chaired by Samir Sharifov, Azerbaijan’s Deputy Prime Minister, and Khalid bin Abdulaziz Al-Falih, Saudi Arabia’s Minister of Investment. As reported by News(dot)Az, citing KOBIA, the…

The growth of Australia’s wine exports to China is declining due to a drop in global wine consumption and reduced demand from Chinese consumers. Australia’s wine exports to China, which saw a sharp increase following renewed diplomatic relations, are now facing a downturn. This slowdown, coupled with a global drop in wine consumption, raises uncertainties about the future of the Australian wine market. After Beijing lifted tariffs on wine imports on March 29, 2024, Australia exported slightly over A$1 billion ($640 million) worth of wine to China during the year ending in March 2025, approaching the record A$1.15 billion achieved…

President Donald Trump’s administration is reportedly planning to ease the burden of automotive tariffs by reducing duties on foreign parts used in domestically produced vehicles and preventing additional tariffs on imported cars from overlapping. Trump has decided to relax specific tariffs on automakers, signaling a departure from his earlier hardline approach intended to promote U.S. manufacturing jobs and augment government revenue. The official declaration is scheduled for Tuesday, coinciding with a Michigan rally celebrating Trump’s 100 days in office. Commerce Secretary Howard Lutnick emphasized that President Trump is fostering a strong partnership with domestic automakers and American workers. He described…

Jobst Von Kirchmann, the European Union Ambassador to Zimbabwe, declared that Zimbabwean companies are now eligible to export products to the EU entirely duty-free. Speaking at the Zimbabwe International Trade Fair (ZITF) in Bulawayo last week, Ambassador Von Kirchmann emphasized the opportunities for local businesses amid global trade concerns. He noted that these challenges have intensified following the imposition of tariffs by U.S. President Donald Trump. Although certain duties may still apply to EU imports into Zimbabwe, the ambassador highlighted that Zimbabwean exporters will now benefit from unprecedented access to the European market. The development is expected to create new…

The US Department of Agriculture (USDA) has reportedly issued a warning to Mexico, stating that all live animal imports will be suspended unless stricter measures are enforced to prevent the northward spread of a flesh-eating parasite. As reported by Fox News, Agriculture Secretary Brooke Rollins sent a stern letter to her Mexican counterpart on Saturday, threatening to block live imports of cattle, bison, and horses if action against New World screwworm isn’t taken by April 30. The New World screwworm, a flesh-eating parasite, is rapidly spreading from Central America into southern Mexico. To combat this threat, USDA officials have long…

In an effort to address trade tensions with the U.S., the Japanese government is considering the possibility of increasing imports of soybeans and corn from the United States, as reported by Kyodo News. The consideration is part of discussions aimed at resolving issues related to the tariffs imposed by U.S. President Donald Trump on a range of goods, including automobiles, steel, and aluminum, a government source said on Friday. Japan seeks to address the surplus of U.S. soybeans and corn caused by reduced exports to China amid escalating trade tensions between Washington and Beijing. By increasing its imports of these…

Donald Trump’s plan to impose a 25% tariff on pharmaceutical imports could raise U.S. drug costs by nearly $51 billion. An industry-backed study indicates that a 25% tariff on imported medicines could increase U.S. drug costs by up to $51 billion annually, reflecting a potential 12% rise. The report, authored by Ernst & Young and reviewed by Reuters for a major U.S. pharmaceutical trade organization, emphasizes the significant reliance of American healthcare on foreign-produced drugs and ingredients. The analysis revealed that in 2023, the United States imported pharmaceutical products worth $203 billion, with 73% originating from Europe, particularly Ireland, Germany,…

The Plantation and Commodities Ministry declared on Friday that Malaysia has implemented an immediate rule mandating all rubber glove exporters licensed under the Malaysian Rubber Board (MRB) to only export gloves manufactured by local producers. The ministry stated today that the decision aims to uphold product quality, support the sustainability of Malaysia’s rubber glove industry, and prevent the country from being used as a dumping ground for foreign products. “This is in view of global developments that reflect increasing uncertainty in the international trade landscape, including changes in policies among major world markets that directly impact the rubber supply chain…

European Commission President Ursula von der Leyen declared on Thursday during the IEA summit on energy security that the EU Commission plans to unveil measures next month to phase out fossil fuel imports from Russia. Von der Leyen stated that in two weeks, the Commission will unveil a ‘roadmap’ detailing specific steps to eliminate all imports of Russian fossil fuels, ensuring that Europe no longer depends on a hostile power for energy. The proposal, initially planned for release in March, was postponed due to increasing concerns about tariffs introduced by U.S. President Trump. The EU’s ‘REPowerEU’ initiative has accelerated the…