U.S. President Donald Trump signed an executive order on Thursday increasing tariffs on Canadian imports from 25% to 35%, starting Friday. As outlined in a White House factsheet, the newly imposed 35% tariff will apply to all Canadian imports not covered under the U.S.-Mexico-Canada Agreement (USMCA). Additionally, any goods rerouted through a third country to bypass the tariffs would face a transshipment penalty of 40%. Canadian Prime Minister Mark Carney expressed disappointment over the decision, which followed months of tariff threats and escalating trade tensions from the U.S. administration. The order was issued just ahead of Trump’s self-imposed August 1…

India has reportedly declined the U.S. offer to purchase F-35 stealth fighter jets, signaling a shift in its bilateral strategies with the U.S. According to Bloomberg, India has formally informed the U.S. that it will not proceed with the acquisition of F-35 jets, following President Trump’s 25% tariff on Indian imports, which is scheduled to take effect on August 7. The Indian government is unlikely to approve any major new defense agreements with the United States in the near future, as reported by The Times of India, citing Bloomberg. Officials in New Delhi are reportedly disappointed by Trump’s declaration of…

Brazilian exports to the U.S. will see partial relief, as nearly half of the exports are covered by a list of exemptions from the U.S. tariffs. According to data from the American Chamber of Commerce for Brazil, approximately 43.4% of Brazil’s exports to the U.S., valued at $18.4 billion out of a total $42.3 billion this year, will be exempt from the newly imposed 50% import tariff, as reported by The Rio Times. Following heightened political tensions with Brazil’s government, the U.S. unveiled a steep tariff hike, but also released a list of 694 products that would be excluded from…

The Trump administration has unveiled plans to impose a 50% tariff on copper imports, prompting a sharp reaction in U.S. markets. President Donald Trump signed a new order on Wednesday, enacting a sweeping 50% tariff on copper imports, marking the latest addition to the list of metals facing hefty import duties under his administration. By excluding key copper input materials such as ores, concentrates, and cathodes, the newly declared policy represents a notable retreat from Trump’s earlier threats to impose broad tariffs on all overseas copper shipments. In a proclamation issued by the White House, the administration stated that the…

U.S. President Donald Trump on Wednesday declared a 25% tariff on Indian imports, starting August 1, along with an additional penalty, citing trade barriers and India’s ongoing energy and defense ties with Russia as reasons for the penalty. Trump, in a Truth Social post, defended the 25% tariff on Indian imports by stating that, although India is considered a ‘friend,’ it enforces some of the ‘highest tariffs’ on U.S. goods and maintains ‘obnoxious’ non-monetary trade restrictions. “Also, they have always bought a vast majority of their military equipment from Russia, and are Russia’s largest buyer of energy,” he added. In…

The Philippine Department of Agriculture (DA) has removed its year-long ban on poultry and bird products from Australia, following the country’s effective control of Highly Pathogenic Avian Influenza (HPAI). The government has now removed restrictions on the import of domestic and wild birds, along with associated products such as poultry meat, day-old chicks, and eggs, from Australia. In a statement on Wednesday, the Department of Agriculture declared it has issued Memorandum Order No. 39, officially revoking the import ban on bird and poultry products from Australia that was imposed in June of the previous year under Memorandum Order No. 21.…

Kenya is striving to meet the requirements of the European Union Deforestation Regulation (EUDR), a policy mandating that all agricultural exports to the EU, including coffee, must be entirely free from deforestation links. The regulation, originally scheduled for 30th December 2024, has been postponed by a year, granting Kenya and other exporting countries until 30th December 2025 to achieve full compliance with the updated standards. The regulation aims to block products linked to deforestation and forest degradation from being sold within the European Union. Under the EUDR, businesses are required to demonstrate that commodities such as coffee, cocoa, soy, beef,…

India’s leather and footwear exports to the UK are projected to almost double from $494 million in 2024 to $1 billion over the next three years, following the recent signing of a Comprehensive Economic and Trade Agreement (CETA), according to India’s Commerce and Industry Minister Piyush Goyal. On Monday, during an industry interaction on the FTA with the leather, footwear, and textiles sector in New Delhi, the minister emphasized that the agreement removes import duties ranging from 2% to 8% on leather goods, 4.5% on leather footwear, and 11.9% on non-leather footwear. He affirmed that the agreement streamlines customs procedures,…

Ukraine’s state-owned energy firm Naftogaz declared on Monday that it has finalized its first-ever natural gas import agreement with Azerbaijan. Naftogaz CEO Sergii Koretskyi stated that the company has finalized its inaugural natural gas procurement deal with SOCAR Energy Ukraine, a branch of Azerbaijan’s national oil firm, SOCAR. The first delivery of natural gas from Azerbaijan is underway through the Trans-Balkan pipeline, which links Bulgaria, Romania, and Ukraine. This agreement, made with SOCAR Energy Ukraine, the local branch of Azerbaijan’s state oil company, establishes a fresh route for importing energy into the country. The deal follows a new roadmap signed…

U.S. President Donald Trump declared on Sunday that the United States had reached a trade agreement with the European Union, establishing a 15% tariff on EU imports. “We have reached a deal. It’s a good deal for everybody,” said Trump. The deal brings an end to months of uncertainty in the economic relationship between the U.S. and its largest trading partner EU. European Commission President Ursula von der Leyen also praised the agreement, calling it a ‘good deal’ for both sides. The newly revealed tariff rate reflects a decrease from the 30% tariff Trump signaled on July 12 and the…