Author: News Desk

The U.S. government on Tuesday approved an annual license for Korean semiconductor companies Samsung Electronics and SK Hynix to import chip-making equipment to their Chinese facilities in 2026, according to Reuters, citing two sources familiar with the matter. The approval provides short-term relief for the South Korean firms, following Washington’s move to withdraw license waivers previously extended to some tech companies earlier this year. A source told Reuters that Washington has implemented an annual approval system for exporting chipmaking equipment to China. Samsung, SK Hynix, and TSMC previously received special waivers from Washington’s broad curbs on exporting chip-related technology to…

The Pakistan Association of Large Steel Producers has urged the Federal Board of Revenue (FBR) to mandate advance pay orders from importers of duty-free Chinese steel products cleared via the Sost Customs Dry Port for consumption in Gilgit-Baltistan. The industry warned that without adequate safeguards, these imports might be redirected to taxable regions, threatening local production and destabilizing markets. Officials emphasized that Pakistan’s steel sector is fully capable of meeting regional demand without depending on imported finished goods. The demand for advance tax guarantees comes after the FBR issued S.R.O. 2488(I)/2025 on December 24, permitting more than 2,403 Chinese goods…

Korean and Chinese trade officials met Tuesday to explore ways to speed negotiations on the second phase of their bilateral free trade agreement, with a focus on boosting cooperation in services and investment, according to Seoul’s trade ministry. Korea’s Trade Minister Yeo Han-koo held talks with his Chinese counterpart, Li Chenggang, in Beijing, the Ministry of Trade, Industry, and Resources said. The initial stage of the FTA, implemented in December 2015, removed tariffs on major goods. At that point, both nations consented to partially open their services and investment sectors and committed to beginning follow-up negotiations within two years. The…

China plans to revise tariff rates on select products next year, including setting provisional import tariffs below the most-favored-nation rates for 935 items, the Customs Tariff Commission of the State Council declared on Monday. In a circular, the commission stated that the tariff adjustments are intended to enhance resource allocation between domestic and global markets, support economic upgrading, and increase the supply of high-quality goods. According to the Tariff Adjustment Plan, import duties on essential components and critical materials—such as computer-controlled hydraulic cushions for presses and heteromorphic composite contact strips—will be reduced. The measure is intended to foster greater technological…

Pakistan’s High Commissioner to Bangladesh, Imran Haider, met Bangladesh’s Chief Adviser Muhammad Yunus in Dhaka on Sunday to discuss enhancing bilateral cooperation across a range of sectors. According to an official statement from the Chief Adviser’s office, the talks centered on strengthening cooperation in trade, investment, and aviation, as well as expanding cultural, educational, and medical exchanges between the two South Asian nations. During the talks, Commissioner Haider highlighted that trade between Pakistan and Bangladesh has grown notably, marking a 20% increase over the past year. He added that business communities in both countries are actively working to identify new…

The Pakistan Federal Board of Revenue (FBR) has granted tax exemptions to over 2,403 Chinese-origin products, waiving sales tax, income tax, and federal excise duty for items imported through the Sost Customs Dry Port and designated solely for use in Gilgit-Baltistan. The exemption was issued via S.R.O. 2488 (I)/2025, which establishes a special clearance procedure for goods entering Pakistan through the Sost Dry Port. According to the notification, these tax waivers will be granted only when consignment-specific online authorization is issued within the Customs Computerized Clearance System by an officially designated authority of the Gilgit-Baltistan government. The Collector of Customs…

Vietnam’s textile and garment sector is maintaining its recovery after the pandemic, with export revenue in 2025 expected to hit $46 billion—a 5.6% rise compared with 2024, according to Vu Duc Giang, Chairman of the Vietnam Textile and Apparel Association (VITAS). This represents a significant achievement, reflecting the industry’s strong rebound despite global economic uncertainties. The sector’s trade surplus is projected at $21 billion, emphasizing its vital role in Vietnam’s overall trade balance. The localization rate has also climbed to around 52%, reflecting substantial advances in supply chain independence. Vietnam’s textile products are now shipped to 138 global markets, with…

The U.S. Food and Drug Administration (FDA) has issued another recall of frozen shrimp from Indonesia due to concerns about radioactive contamination, raising renewed scrutiny on food safety and export monitoring. On Friday, the FDA issued a recall involving 83,800 frozen shrimp packages distributed by Direct Source Seafood LLC and marketed under the ‘Market 32’ and ‘Waterfront Bistro’ labels, citing possible contamination with Cesium‑137 (Cs‑137). The FDA notice stated that the recalled products were distributed in at least 18 U.S. states, including New York, Pennsylvania, Massachusetts, Connecticut, Colorado, Illinois, Oregon, and Utah. Cesium‑137 (Cs‑137) is a synthetic radioactive isotope created…

China has started granting export licenses for rare-earth magnets (REMs) to India, providing relief to India’s automobile and auto parts sector, which had raised concerns over supply shortages after Beijing’s restrictions. Approvals are being processed through domestic suppliers and Indian subsidiaries of foreign component manufacturers. Firms that have secured or are in the process of securing approvals include Jay Ushin, the Indian arm of German auto parts manufacturer Continental AG, vendors serving Mahindra & Mahindra and Maruti Suzuki, and suppliers to Honda Scooters and Motorcycles. “Although it’s a slow start, China’s Ministry of Commerce has started processing and clearing the…

India on Wednesday unveiled reforms aimed at reducing bureaucracy and streamlining import quality inspections, responding to U.S. criticism over the country’s ‘burdensome’ import standards. The decision comes as New Delhi and Washington continue trade deal negotiations, with India seeking relief from a 50% tariff that U.S. President Donald Trump had imposed on certain key exports tied to India’s Russian oil purchases. “The reforms aim to accelerate processes, reduce turnaround times, and leverage technology-driven systems to make quality assurance faster, more transparent, and more accessible for enterprises, institutions, and citizens,” said Jaxay Shah, the chairman of the Quality Council of India.…