Author: News Desk

A U.S. trade court judge has directed the federal government to begin refunding tariffs to businesses that the Supreme Court recently ruled unlawful. On Wednesday, the U.S. Court of International Trade ordered Customs and Border Protection (CBP) to refund tariffs imposed last year by President Donald Trump under the International Emergency Economic Powers Act (IEEPA). The ruling requires federal authorities to return the collected levies, marking a significant legal setback for the Trump administration’s trade policy. “All importers of record whose entries were subject to IEEPA duties are entitled to the benefit,” Judge Richard Eaton wrote. Any company that paid…

The Indian Rice Exporters’ Federation (IREF) has urged the government to issue an official advisory recognizing the ongoing logistics disruptions linked to the Iran crisis as a force majeure or exceptional circumstance. In its submission to the Agricultural and Processed Food Products Export Development Authority (APEDA), the Federation highlighted severe operational challenges, including the shortage of containers, suspension of vessel services to the Middle East, and rising freight costs. IREF stressed that immediate government intervention is needed to mitigate the adverse impact of these disruptions on India’s rice trade. Such a measure would help exporters manage contractual obligations and prevent…

The Pakistan government intends to import crude oil from Saudi Arabia and the United Arab Emirates through the Red Sea, while considering a shift to a weekly petroleum price review system, as the closure of the Strait of Hormuz disrupts shipping routes in the Gulf. Officials stated that these steps are designed to guarantee steady fuel supplies amid the ongoing Iran–U.S.–Israel tensions, which have disrupted oil shipments through the key waterway. Pakistan brings in about one million barrels of crude each month, with Saudi Arabia and the UAE serving as its primary suppliers. According to The Express Tribune, citing sources,…

U.S. President Donald Trump has warned that the United States may suspend all trade with Spain after Madrid blocked American access to its military bases for operations related to Iran. Trump criticized Spain as being ‘terrible’ and hinted that the U.S. might cut off all trade ties. “I could tomorrow—or today, even better—stop everything having to do with Spain, all business having to do with Spain,” Trump said on Tuesday. It remains uncertain whether his administration will act on the threat or how it would enforce trade restrictions against the EU member. His remarks further escalate tensions between the two…

Indonesia’s Coordinator Minister for Food Affairs, Zulkifi Hasan, revealed that the country intends to import specialty rice from the United States, noting that the imports will not be meant for daily consumption. Indonesia’s pledge to import rice is tied to the reciprocal trade agreement (ART) with Washington, which was signed on February 19. “The agreed 1,000 tons of rice is limited to specialty rice,” said Zulkifli Hasan on Monday. The chair of the National Mandate Party (PAN) said the imported rice would not be broadly distributed in the domestic market. “This is specialty rice, for instance, varieties for those with…

The Philippines and South Korea on Tuesday committed to fully leveraging their Free Trade Agreement (FTA) to strengthen trade and investment ties. The two nations signed 10 memorandums of understanding (MOUs) spanning defense, agriculture, law enforcement, tourism, education, and technology. Philippine President Ferdinand R. Marcos and South Korean President Lee Jae-myung witnessed the signing of the agreements during their meeting at Malacañan Palace. “We acknowledged the efforts of both sides to enhance bilateral trade and investment, and we look forward to realizing the full potential of the PH-ROK Free Trade Agreement for the benefit of both our peoples,” Marcos said…

Japan and South Korea on Monday voiced concerns that India’s regulatory measures were impacting their steel companies, even as both nations reaffirmed plans to expand investment. The remarks came during an interactive session hosted by India’s Ministry of Steel ahead of the upcoming Bharat Steel 2026 event. During the session, the country representatives stated that India’s quality control regulations, safeguard duties, and other import restrictions are limiting opportunities for their steel companies. Japan’s Deputy Chief of Mission, Takashi Ariyoshi, noted that while Japanese companies are very active in India, they are encountering some ‘real’ challenges. He pointed to the difficulties…

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has directed its members to suspend business dealings with four Indian firms after one buyer allegedly failed to settle payment for goods already shipped. In a notification issued on Saturday, the apparel body named the companies as Indian Garage, Styleverse Lifestyle, Aditya Birla Fashion and Retail, and Grasim Industries Limited. The advisory follows reports that Styleverse Lifestyle failed to clear export dues to Bangladeshi supplier Ducati Apparels, despite receiving garment shipments. “Styleverse Lifestyle Private Limited, a sister concern of the Aditya Birla Group, has failed to settle outstanding export payment amounting to…

The UK government has halted the export of advanced industrial machinery to an Armenian firm after an inquiry revealed links between the company and Russia’s defense sector. According to a report by The Guardian, the UK Department for Business and Trade is reconsidering its earlier ruling that no license was needed for the export of certain equipment, as the machinery might be used in the production of missile and drone parts. Cygnet Texkimp, a company based in Cheshire, had planned to deliver two machines capable of producing carbon fiber ‘prepreg,’ a material essential in both civilian aerospace and military applications…

U.S. President Donald Trump’s administration is seeking to postpone legal proceedings related to tariff refunds for importers after the Supreme Court struck down his global duties last week. According to the court filing on Friday, the administration is seeking a delay of up to four months before resuming litigation over tariff refunds in the U.S. Court of International Trade. The Supreme Court ruling last week dealt a significant blow to Trump’s signature economic policy and is expected to trigger a complex and legally challenging refund process, as importers file claims to recover the tariffs they paid. “In a case on…