Author: News Desk

The UK is considering tariffs on Chinese electric vehicles amid concerns over growing competition and the potential impact on its automotive industry and access to the European Union market. Business Secretary Jonathan Reynolds is preparing a package of possible tariffs on Chinese vehicle imports, The Times reported, citing senior government sources. The move is being considered amid concerns that Chinese automakers are benefiting from state subsidies. According to reports, UK ministers are considering tariffs of up to 45%, broadly in line with the duties imposed by the European Union on Chinese electric vehicles. The UK government has not confirmed the…

China has launched an anti-dumping probe into chemical imports from Europe amid growing tensions over China’s large trade surplus with the European Union. Beijing’s Ministry of Commerce announced on Saturday that the investigation was initiated following a complaint from domestic industry groups. P-nitrotoluene is a chemical used in the production of dyes, pharmaceuticals, pesticides and pigments. The move is the latest in a series of reciprocal trade measures between Brussels and Beijing, following a renewed escalation in tensions in recent weeks. The EU launched three anti-dumping investigations into Chinese chemical imports last week. It has also started consultations on a…

The free trade agreement between Türkiye and Ukraine has entered into force, establishing a stable and predictable framework for bilateral economic cooperation while supporting efforts to increase trade between the two countries to $10 billion in the near term. The Turkish Trade Ministry announced that the Türkiye-Ukraine Free Trade Agreement officially entered into force on Thursday. The agreement is intended to strengthen bilateral commercial relations by establishing a more predictable and stable framework for trade between the two countries. Customs duty provisions governing trade in goods under the agreement will come into effect on January 1, 2027. The agreement is…

China’s refiners have suspended fuel exports indefinitely, according to Reuters, citing several sources familiar with the matter on Thursday. PetroChina, one of the country’s state-owned energy giants, has reportedly cancelled several gasoline and jet fuel shipments scheduled for October, the sources said. China curbed fuel exports during the spring and early summer to safeguard domestic supplies amid disruptions linked to the Strait of Hormuz crisis. Most of those restrictions were lifted by mid-July, enabling refiners to increase overseas shipments and help alleviate fuel shortages across Asia. Fuel exports rebounded in August following the policy change, with Chinese refiners shipping 6.01…

The Trump administration is removing Syria from the list of countries barred from purchasing or importing U.S.-made weapons, marking another step in the gradual easing of sanctions against the new government in Damascus and its leaders. In a notice published Wednesday in the Federal Register, the U.S. State Department announced amendments to the International Traffic in Arms Regulations (ITAR), eliminating Syria’s designation under the policy of denial that restricted licenses and approvals required for the export of U.S. defense equipment, weapons and munitions. The policy change, which took effect on Thursday, means requests from Syria to purchase U.S. defense equipment…

The United States and Canada are expected to come under further pressure after the U.S. on Tuesday imposed a ban covering nearly $1 billion in Canadian imports. The restrictions apply to products including Canadian dairy goods, motor vehicles and various alcoholic beverages. President Donald Trump cited what he described as Canadian ‘discrimination’ against comparable American products when signing the executive orders. Although the affected imports represent only a small share of the nearly $880 billion in annual trade between the two countries, the measure marks another escalation in Trump’s second-term trade dispute with the United States’ long-standing ally and trading…

The UAE plans to invest an additional $25 billion in India, as the two countries seek to expand cooperation in the energy sector amid ongoing tensions in West Asia. According to India’s Commerce and Industry Minister Piyush Goyal, discussions include strategic petroleum reserves, LPG and LNG supplies, as well as potential subsea gas pipeline projects. Speaking after the 14th India-UAE Investment Task Force meeting in Mumbai, Goyal said the UAE has already invested $25 billion in India and has signaled plans to commit a further $25 billion in the near term. The two nations ultimately aim to raise total UAE…

China and the United States agreed to establish a communication mechanism for addressing artificial intelligence-related incidents and to advance efforts on military crisis communication following a three-day summit between their leaders in Washington, according to statements issued by both sides on Saturday. The two countries also agreed to continue cooperation through a Board of Trade focused on selected bilateral trade matters. The White House said the board became operational this week. Chinese President Xi Jinping returned to Beijing on Saturday, state news agency Xinhua reported. According to a statement issued by China’s Foreign Ministry, the two countries agreed to sign…

Vietnam and Malaysia’s bilateral trade is projected to exceed $18 billion (RM73.34 billion) in 2026, bringing the two countries closer to the $20 billion (RM81.49 billion) mark as they seek to expand export opportunities, particularly in the halal sector. According to the Vietnam News Agency, two-way trade more than doubled from $7.4 billion (RM30.15 billion) in 2015 to $16.33 billion (RM66.53 billion) in 2025. Vietnamese Trade Counsellor Phùng Văn Thành said Malaysia remains one of Vietnam’s key trading partners both within ASEAN and globally. However, Vietnam’s exports to Malaysia have remained lower than its imports, resulting in a trade deficit…

The United States and China have agreed to extend their bilateral trade truce through January 10, U.S. Treasury Secretary Scott Bessent said Wednesday, keeping the agreement in place beyond its previously scheduled expiration in November. The announcement followed an unscheduled meeting in Washington between Bessent and Chinese Vice Premier He Lifeng. “We will extend what we call the ‘Busan Agreement,’ the economic détente between the two countries that was scheduled to end on November 10, that is going to be extended until January 10,” Bessent told Fox News. Bessent said the two countries could reach a broader economic agreement by…