Author: News Desk

Vietnam and Uruguay have agreed to strengthen economic, trade, and investment ties, focusing on improved market access and diversifying imports and exports of garments, textiles, footwear, and raw materials during the fourth meeting of their Joint Committee in Hanoi on Tuesday. The two countries also agreed to intensify trade promotion efforts, enhance market access for businesses, and work towards a successful first round of negotiations on the Vietnam-MERCOSUR Preferential Trade Agreement (PTA), according to reports. Bilateral trade between Vietnam and Uruguay climbed 58.4% year on year to $268.42 million in 2025. Vietnam’s exports to Uruguay increased 64.8% to $179.92 million,…

The Canadian government is seeking to reach an agreement with the Trump administration to avert a new round of U.S. tariffs on a broad range of Canadian exports, which are scheduled to take effect on Wednesday. Despite several weeks of negotiations, the prospects of reaching an agreement remained uncertain as of Monday. Prime Minister Mark Carney described the discussions as ‘very delicate and intense’ and indicated his intention to speak directly with President Trump before the deadline. If enacted, the new tariffs would affect approximately $20 billion worth of Canadian goods exported to the United States, covering items such as…

South Korea’s Industry Minister Kim Jung-kwan has said Seoul and Washington must resolve remaining issues concerning a $200 billion investment plan agreed as part of their bilateral tariff negotiations. Kim made the remarks after arriving in Dallas, Texas, on Sunday, as South Korea continues to face tariff pressure from the United States amid several unresolved trade issues between the two countries. South Korea agreed to invest $350 billion in the United States last year as part of a trade agreement that reduced the U.S. tariff rate on Korean imports from 25% to 15%. Of the total investment, $150 billion was…

Uzbekistan and the Philippines held talks on strengthening cooperation in trade, investment, tourism, and transport, with discussions also covering the launch of direct air services between the two countries. According to the Uzbekistan Ministry of Foreign Affairs, the discussions took place during a Friday meeting between Uzbekistan’s Deputy Foreign Minister Mirvohid Azimov and Philippine Ambassador to Uzbekistan Roberto Manalo. The two sides assessed the current state of bilateral relations and explored prospects for further cooperation, with emphasis on strengthening political dialogue and expanding trade, economic, cultural, and humanitarian ties. The Philippine side reaffirmed its commitment to building mutually beneficial ties…

U.S. President Donald Trump on Thursday signed a proclamation imposing tariffs of up to 100% on imported drones and their components, citing national security and supply chain risks. According to the White House, drones classified as highly sensitive, such as those exceeding 25 kilograms in weight or equipped with thermal imaging technology, will face a 100% tariff, while drones with a maximum take-off weight of 25 kilograms will be subject to a 25% tariff. Most of the new tariffs will take effect 21 days after the proclamation, though duties on drone components not deemed highly sensitive will be delayed for…

The Philippines’ Department of Agriculture (DA) has lifted its temporary ban on poultry imports, allowing local producers to resume sourcing breeding stock and eggs from Japan. The move follows Japan’s official declaration that it is free of highly pathogenic avian influenza (HPAI). The move restores a vital supply channel for Philippine poultry producers while maintaining strict veterinary and quarantine safeguards. The earlier ban covered domestic and wild birds, including day-old chicks and hatching eggs, after Japan reported bird flu cases in 2025. The DA said Japan’s Ministry of Agriculture, Forestry, and Fisheries had confirmed that the outbreak was contained, with…

Russia received its first shipment of gasoline from India last week as Moscow sought to ease domestic fuel shortages caused by Ukrainian drone attacks on its oil refineries, Bloomberg reported Wednesday, citing ship-tracking data. Data from market analytics firm Kpler showed that the Indian gasoline arrived at a Russian port on August 5. The fuel was supplied by Nayara Energy, an Indian refinery partly owned by Russian state-controlled oil company Rosneft. The Russian-flagged tanker Cyclone reportedly loaded around 42,000 metric tons of gasoline from the Vadinar refinery in western India in mid-June before transferring the cargo through a network of…

China on Monday declared provisional anti-dumping duties of up to 54.3% on pecan imports from Mexico and the United States. The Ministry of Commerce (MOFCOM) said the duties, applied in the form of security deposits, follow a preliminary ruling that pecans from the two countries had been sold in the Chinese market at dumped prices. The investigation also determined that the dumped imports had caused harm to China’s domestic pecan industry. The provisional anti-dumping measures will come into effect on August 11, 2026. The dumping margins for Mexican exporters were set between 17.8% and 51.6%, and the dumping margin for…

Bangladesh has initiated efforts to strengthen trade and investment ties with New Zealand by expanding cooperation across high-potential sectors, including agri-tech, dairy, renewable energy, pharmaceuticals, leather, jute, sustainable textiles, and information technology. The initiative was discussed during a meeting with New Zealand Trade and Enterprise (NZTE), where Bangladesh outlined opportunities for joint investment, business-to-business partnerships, and increased exports in these areas. The meeting noted that annual bilateral trade between Bangladesh and New Zealand is currently valued at approximately $450 million. Dairy and metal products make up a substantial share of Bangladesh’s imports from New Zealand. Bangladesh’s exports to New Zealand…

Türkiye has retained preferential customs treatment for eligible low-value e-commerce shipments to the European Union, giving its online exporters an advantage under the bloc’s new import regulations. Following discussions between Ankara and the European Commission, goods in free circulation in Türkiye can continue to receive preferential treatment when exported to the EU, provided they are accompanied by an A. TR Movement Certificate under the H1 customs declaration procedure, according to Türkiye’s Trade Ministry. On July 1, the EU abolished the customs duty exemption for e-commerce shipments worth €150 or less from non-EU countries and introduced a temporary €3 duty per…