India may not concede to U.S. demands to allow genetically modified (GM) agricultural imports of corn and soybeans during the ongoing trade negotiations, according to a report by the Indian Express, citing a source aware of the matter. “Some things are matters of principle. We can’t import GM,” the source said. Market access for agricultural goods has remained a central demand from the United States in the ongoing trade negotiations. The issue has consistently been one of the most contentious points between the two nations. Previously, the U.S. Trade Representative (USTR) criticized the regulations on genetically modified (GM) products in…

The South African Department of Trade and Industry has confirmed that it has signed a condition precedent agreement with the U.S. Trade Representative’s office, as the United States prepares to implement a 30% tariff on South African exports. Trade, Industry and Competition Minister Parks Tau revealed the deal on Thursday during the department’s budget vote in the National Council of Provinces, describing it as a crucial step toward securing a comprehensive trade agreement. The department stated that the signed document is a condition precedent, an initial framework that outlines the required steps toward finalizing a complete trade agreement. The deal…

Australia said it will ease restrictions on U.S. beef imports—a decision the Trump administration hailed as a significant win against what it called ‘non-scientific trade barriers,’ as reported by the Associated Press. Australian Agriculture Minister Julie Collins stated on Thursday that easing the rules aimed at keeping the country free of mad cow disease, known as bovine spongiform encephalopathy (BSE), would not pose a risk to biosecurity. The government “will never compromise on biosecurity,” she said, adding that “Australia supports open and fair trade, and our cattle industry has greatly benefited from it.” “Now, we are going to sell so…

European Commission President Ursula von der Leyen on Thursday stated that the EU and China had agreed on a new mechanism to facilitate the export of rare earth elements and magnets, following Brussels’ push for Beijing to address its trade concerns during the EU-China summit in Beijing. “We agreed–and this is new–to have an upgraded export supply mechanism. In other words, if there are bottlenecks, this upgraded support supply chain support mechanism can immediately check and solve the problem or the issue that is out there,” she said. China’s strict restrictions, introduced in early April during a trade dispute with…

India and the UK will sign a free trade agreement, the Comprehensive Economic and Trade Agreement (CETA), on Thursday. Indian Commerce and Industry Minister Piyush Goyal and the UK’s Secretary of State for Business and Trade Jonathan Reynolds will sign the deal, with Indian Prime Minister Narendra Modi and UK Prime Minister Keir Starmer attending the ceremony. The deal enables 99% of Indian exports to enter the UK without any duties, effectively covering nearly the entire trade value. In return, India will lower or eliminate tariffs on 90% of British product categories, which represent 92% of its imports, as reported…

President Donald Trump declared on Wednesday that the United States has secured a trade agreement with Japan, which will lower tariffs on Japanese goods from 25% to 15%. “We just completed a massive deal with Japan, perhaps the largest deal ever made,” Trump wrote on Truth Social. As part of the trade deal, Japan will invest $550 billion in the United States, with the U.S. set to receive 90% of the profits. He also stated that Japan will open its market to American exports, including cars, trucks, rice, and various other agricultural products. The newly declared 15% tariff rate is…

South Korea’s newly appointed finance minister will hold tariff negotiations with his U.S. counterpart in Washington this week, marking the first round of trade talks under President Lee Jae-myung’s administration. The discussions come as both nations work to reach an agreement before the implementation of sweeping tariffs on August 1. “We have confirmed the date for a ‘2+2’ meeting with the U.S. on July 25,” Korea’s Deputy Prime Minister and Minister of Economy and Finance, Koo Yoon-cheol said on Tuesday. Trade Minister Yeo Han-koo will join Koo at the meeting, and U.S. Treasury Secretary Scott Bessent, along with Trade Representative…

The European Commission is proposing a new €20 fee for third-country nationals seeking visa-free entry into the European Union, almost three times higher than the previously approved amount. The proposed fee is linked to the European Travel Information and Authorization System (ETIAS), which the EU is establishing as a counterpart to the U.S. ESTA program. ETIAS will apply to visa-free travel across 30 countries, including all EU member states except Ireland, along with Iceland, Norway, Liechtenstein, and Switzerland. The ETIAS Regulation, which was adopted in 2018, initially set the fee at €7. Due to inflation and increased operational expenses, including…

China on Monday urged the European Union to reverse its decision to impose sanctions on two Chinese banks, warning that it would take countermeasures to safeguard its national interests. The warning comes ahead of a scheduled meeting later this week between Chinese President Xi Jinping and European Commission President Ursula von der Leyen. The European Union unveiled a fresh round of sanctions last Friday, targeting two Chinese banks and five companies accused of aiding Russia in bypassing restrictions tied to the Ukraine conflict. Among the sanctioned entities are Heihe Rural Commercial Bank and Heilongjiang Suifenhe Rural Commercial Bank, both of…

Bangladesh has entered into a Memorandum of Understanding (MoU) with the United States to import 700,000 tons of high-quality wheat each year for the next five years at competitive rates. The agreement was reached to offset the new import tariffs imposed by the Trump administration. According to a statement from Bangladesh’s Ministry of Food (MoFood), the MoU was signed on Sunday ahead of the third round of tariff negotiations between Bangladesh and the United States. Md Abul Hasanath Humayun Kabir, Director General of Bangladesh’s Food Directorate (DGoF), and Joe Sowers, Vice President for South and Southeast Asia at U.S. Wheat…