Pakistan entered into a Memorandum of Understanding (MoU) with U.S. Strategic Metals (USSM), an American metals company, on Monday, involving a $500 million investment plan. Pakistan’s Frontier Works Organization, the nation’s largest extractor of critical minerals, signed the memorandum of understanding with Missouri-based U.S. Strategic Metals to collaborate on initiatives, including the establishment of a poly-metallic refinery in Pakistan. USSM specializes in the production and recycling of critical minerals, which the U.S. Department of Energy identifies as vital components in numerous technologies tied to advanced manufacturing and energy generation. The agreement follows a trade pact finalized between Washington and Islamabad…

South Africa and Algeria have reached an agreement to establish new trade routes to boost bilateral trade and enhance market access between the two countries. The decision follows a high-level meeting in Algeria over the weekend between South Africa’s Minister of Trade, Industry, and Competition, Parks Tau, and Algeria’s Minister of Foreign Trade and Export Promotion, Kamal Rezig. The meeting reviewed the implementation of the Memorandum of Understanding (MoU) on Economic Cooperation, which was signed during the December 2024 Bi-National Commission between Algeria and South Africa. The agreement outlines collaboration in vital areas such as trade, industrial growth, and infrastructure…

India and Israel formalized a Bilateral Investment Treaty (BIT) in New Delhi on Monday, aimed at strengthening financial and economic cooperation between the two nations. The agreement was signed by India’s Finance Minister, Nirmala Sitharaman, and her Israeli counterpart, Bezalel Smotrich. “A new Bilateral Investment Agreement, signed by Israel’s Minister of Finance Bezalel Smotrich and India’s Finance Minister Nirmala Sitharaman, will facilitate reciprocal investments between investors from both countries,” Israel’s Ministry of Finance said. The BIT follows remarks made in February by Reuven Azar, Israel’s Ambassador to India, who emphasized that India and Israel have the potential to strengthen the…

The Nigeria Customs Service Board (NCSB) on Sunday approved a $300 de minimis threshold for low-value consignments imported through express shipments or passenger baggage. According to a statement released in Abuja, the Nigeria Customs Service spokesperson, Abdullahi Maiwada, confirmed that the “$300 De Minimis Threshold Value” will apply to goods brought via express delivery or passenger luggage. The decision was made during the board’s 63rd regular meeting held on September 2 and it takes effect on September 8 Under the new regulation, items valued at $300 or below will be exempt from import duties, as long as they are not…

U.S. President Donald Trump has signed an executive order that will provide tariff exemptions starting Monday for trading partners who finalize agreements on industrial exports, according to a White House statement on Saturday. The order applies to over 45 types of goods, mainly industrial products that the U.S. either doesn’t manufacture domestically or lacks in sufficient supply. Among these are nickel, which is vital for stainless steel and EV batteries, various forms of gold, including powder, foil, and bullion, as well as compounds used to produce generic drugs like the anesthetic lidocaine and substances for medical testing. Additional items include…

China has introduced provisional anti-dumping tariffs of up to 62.4% on pork imports from the European Union, a measure seen as a response to the EU’s duties on Chinese electric vehicles. The Ministry of Commerce declared the move on Friday, targeting over $2 billion worth of pork imports. The ministry stated that its preliminary findings revealed that pork exporters from the EU were offering products at unjustifiably low prices, negatively impacting China’s domestic pork sector. Producers from Spain, Denmark, and the Netherlands who cooperated with the probe will face tariffs ranging from 15.6% to 32.7%, while all other companies will…

Japan and the United States are nearing completion of a deal to reduce tariffs on Japanese car imports, with the rate expected to drop from 27.5% to 15% within 10 to 14 days following the issuance of a U.S. presidential executive order, according to a Japanese government source cited by Reuters on Thursday. As reported by CBT News, the implementation of the executive order is still under negotiation, and the final decision lies with President Donald Trump. The order will outline the tariff revisions, ensuring that Japanese imports formerly facing higher duties will not be taxed twice, while those previously…

China has declared plans to implement anti-circumvention measures on specific optical fiber imports from the United States, starting Thursday, according to the Commerce Ministry, as reported by Xinhua News Agency. China’s Ministry of Commerce (MOFCOM) has reported that U.S. fiber optic producers and exporters have been changing trade patterns to ship certain cut-off shifted single-mode optical fiber to China without valid commercial reasons. According to a statement published on the MOFCOM website late Wednesday, the behavior weakens the impact of existing anti-dumping measures and constitutes an attempt to circumvent China’s anti-dumping rules on related U.S. optical fiber products. The decision…

U.S. President Donald Trump on Tuesday stated that he has no plans to reduce tariffs on Indian imports, according to a report by Mint. His comments followed last week’s decision by Washington to double import duties on Indian goods to 50% in response to India’s purchases of Russian oil. He stated that although the U.S. maintains strong relations with India, he believes trade between the two nations has been uneven for a long time due to India’s high import tariffs. He noted that India has imposed some of the highest tariffs globally for many years, resulting in what he considers…

Pakistan and Indonesia are in the process of negotiating a Free Trade Agreement (FTA) to enhance market access and strengthen economic collaboration between the two countries. In 2012, the two nations signed a Preferential Trade Agreement (PTA), which came into effect in 2013, improving market access and providing tariff concessions on a wide range of products. Indonesia, the largest economy in Southeast Asia, ranks among Pakistan’s key trading partners. Pakistan exports items such as processed foods, pharmaceuticals, IT services, halal meat, textiles, seafood, and sports goods to Indonesia. In exchange, Indonesia supplies Pakistan with palm oil, consumer electronics, auto parts,…