Author: News Desk

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…

The White House said Thursday that it has reached new trade agreements with four Latin American nations to reduce tariffs on imports of coffee, bananas, and beef from Argentina. The White House has finalized deals with Ecuador, Guatemala, El Salvador, and Argentina that will remove tariffs on goods not grown or produced in adequate quantities within the United States. The deals will eliminate tariffs on bananas and coffee from Ecuador, along with coffee, textiles, and apparel from Guatemala. The overall tariff rates for the four countries will remain unchanged—10% for Guatemala, El Salvador, and Argentina, and 15% for Ecuador. A senior…

The Association of Indonesian Filament Yarn and Fiber Producers (APSyFI) is calling on the government to curb illegal imports ahead of the 2026 Eid al-Fitr. APSyFI Chair Redma Gita Wirawasta emphasized that the coming year will be pivotal for the future of the domestic textile sector, determining whether the industry can recover or if the current wave of layoffs will persist. Since 2022, the domestic market has been flooded with imported textile goods, negatively affecting the industry. “Then for three consecutive years, imported goods continue to dominate the market and textile producers have never celebrated Eid again, the impact is…

The Nigerian Federal Government has suspended the enforcement of the previously approved 15% ad valorem import duty on Premium Motor Spirit (petrol) and diesel. The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) declared the suspension in a statement issued by its Director of Public Affairs, George Ene-Ita. The levy, approved by President Bola Tinubu in October, was introduced as part of fiscal policies designed to align import expenses with local production conditions and promote the development of domestic refineries. The approval, informed via a letter from the President’s Private Secretary, Damilotun Aderemi, followed a proposal submitted by the Executive…