Author: News Desk

The Philippines plans to intensify its exports to the United States next year after the U.S. exempted over $1 billion worth of its agricultural products from the 19% reciprocal tariff, an official said. Department of Agriculture (DA) Secretary Francisco Tiu Laurel on Wednesday welcomed the Trump administration’s new tariff exemptions, saying the move has eased the sector’s earlier ‘anxiety.’ “Now that the path is clear, people can plan, invest, and expand. So that’s good,” Laurel said. Department of Trade and Industry (DTI) Secretary Cristina Roque said on Tuesday that the products covered under the new U.S. policy include coconuts, fruit…

Russia has made its first export of the Su-57, the country’s domestically developed fifth-generation fighter jet. Russia’s state-owned aerospace and defense company, United Aircraft Corporation (UAC), CEO Vadim Badekha, on Tuesday told state broadcaster Pyerviy Kanal that a foreign buyer has taken delivery of two Su‑57 aircraft. “Our foreign customer and partner has already taken delivery of the first two aircraft. They have begun combat duty and are demonstrating their best qualities. The customer is satisfied,” Badeha said. He did not disclose which country made the purchase, but Russian media indicated that Algeria may be the potential buyer. The development…

China reinstated its ban on Japanese seafood imports on Wednesday, as tensions rose following Japanese Prime Minister Sanae Takaichi’s recent remarks on Taiwan. The move reinstates a ban first imposed in August 2023. Earlier this year, Tokyo and Beijing had agreed to ease the restrictions, with Japan confirming its first seafood shipment to China less than two weeks ago. On Wednesday, Japan’s Chief Cabinet Secretary Minoru Kihara emphasized that Tokyo “remains open to various forms of engagement” with China, though he did not specify any possible steps moving forward. Tensions between Japan and China have escalated recently, with Beijing strongly…

The U.S. decision to remove tariffs on approximately 100 Peruvian agricultural products has swiftly altered the outlook for Peru’s active export industries. Following months of uncertainty over a 10% reciprocal duty on many Peruvian farm imports, these products will now enter the U.S. market tariff-free, as American consumers face growing concerns over rising food prices. The recent exemption applies to nearly half of the 200-plus food items on which the United States has recently lowered tariffs. For Peru, this covers major exports such as avocados and coffee, along with mangoes, citrus fruits, ginger, cocoa, and fruit juices. Collectively, these products…

The Indonesian government will implement an export duty on gold, starting next year, with the Finance Minister’s regulation specifying the tariff expected to be issued in November. Febrio Kacaribu, Director General of Economic and Fiscal Strategy at the Ministry of Finance, noted that talks on implementing the policy are nearly complete, positioning it as a potential new source of state revenue. “The Minister of Finance regulation for the imposition of export duty on gold is at the final stage of the process,” Febrio said during a meeting with the House of Commission XI (DPR) in Senayan, Jakarta, on Monday. According…

Samsung Electronics and other major South Korean firms unveiled new domestic investment plans on Sunday during a meeting with President Lee Jae Myung in an effort to address concerns that the companies might favor U.S. projects under a trade agreement. Lee’s talks with corporate leaders followed the government’s recent trade deal with Washington, under which Seoul pledged $350 billion in U.S. investments to sidestep the Trump administration’s top tariffs. Samsung, a major global chipmaker, said it will invest 450 trillion won ($310 billion) into its domestic expansion over the next five years, with a new production line at its Pyeongtaek…

India introduced import restrictions on certain types of platinum jewelry on Monday, citing misuse of the 0% import duty provision. The Directorate General of Foreign Trade (DGFT) stated in its latest notification that the import policy for platinum jewelry has been revised from free to restricted, effective immediately until April 30, 2026. Importers are now required to obtain a license from the DGFT to bring in these items. The decision aims to place platinum jewelry under the same oversight as silver jewelry, which has been restricted since September until March 31, 2026, to curb misuse of India’s free trade agreement…

Ukrainian President Volodymyr Zelenskyy declared on Sunday that Ukraine will import gas from Greece to strengthen its energy supply ahead of the upcoming winter. Zelenskyy said the deal with Greece will establish an additional route for gas imports, supporting supply stability throughout the winter. He added that Ukraine has already secured funding for these imports and intends to allocate nearly €2 billion to offset the shortfall in domestic production caused by Russian attacks. The president also highlighted that government funds for gas imports have been set aside, noting that European institutions and partner countries are providing assistance. Zelenskyy outlined that…

Indian spice exporters and tea producers are expected to benefit following U.S. President Donald Trump’s decision to reduce import tariffs on nearly 200 food, farm, and agricultural products, a move undertaken in response to mounting criticism over rising domestic food prices. The list of products includes spices such as black pepper, cloves, cumin, cardamom, turmeric, and ginger, as well as various teas, mango-based products, and nuts such as cashews—all key exports from India. According to The Times of India, India’s spice exports to the U.S. in 2024 exceeded $500 million, while tea and coffee shipments were valued at nearly $83…

China has launched a crackdown on the export of ‘zero mileage’ new cars falsely presented as used, a practice that some automakers have used to inflate sales figures and secure tax rebates. Zero-mileage cars are brand-new vehicles that have barely been driven, typically only for testing, transport, or display. Some manufacturers or dealers register these cars as sold and then resell them as used, even though they haven’t been genuinely used. This practice allows them to take advantage of benefits intended for second-hand vehicles, such as tax breaks or export incentives. According to a notice released by the Ministry of…