Author: News Desk

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…

Norway on Wednesday opposed the EU’s proposal to implement safeguard measures on ferroalloy imports, contending that the restrictions breach the European Economic Area (EEA) Agreement and weaken the fundamental principles of the internal market. Norwegian Trade and Industry Minister Cecilie Myrseth told state broadcaster NRK that the European Union had notified the government of its plan to involve Norway in the proposed safeguard measures. “We disagree with the EU on this. The government believes that Norway should not be covered by the protective measures. We believe that the EEA Agreement does not allow Norway to be covered by such measures,”…

Chinese President Xi Jinping has pledged to boost imports and strengthen trade cooperation with Spain amid growing tensions with Europe. He made the commitment during a meeting with Spain’s King Felipe in Beijing on Wednesday. “China is willing to import more high-quality products from Spain, explore cooperation potential in emerging fields such as new energy, the digital economy, and artificial intelligence, expand mutual investment, and create more landmark projects,” Xi said. “Both sides can also complement each other’s strengths and jointly explore third-party markets such as Latin America,” he added. This marks the first visit by a Spanish monarch to…

Italian pasta could cost more as the U.S. government weighs a substantial 107% tariff on pasta imports from Italy. A proposed tariff introduced under U.S. President Donald Trump could render popular Italian pasta brands too expensive or even unavailable to American consumers. If enacted, it would represent the highest tariff ever imposed on an Italian food product. Beginning as early as January, the U.S. Commerce Department’s preliminary decision may raise tariffs on pasta from 13 leading Italian companies to as much as 107%. The action stems from an anti-dumping probe initiated by the U.S. Department of Commerce in August 2024,…

The Thai government on Tuesday revealed plans to remove tariffs on U.S. feed corn and increase import volumes by more than eighteen times starting next year, in accordance with its recent trade deal with the United States. The policy aims to strengthen bilateral trade ties and secure a consistent supply of raw materials for Thailand’s livestock feed sector. Thailand plans to import 1 million tons of U.S. corn at zero tariffs between February and June 2026, government spokesperson Siripong Angkasakulkiat said. Thailand’s cabinet has approved a significant increase in its annual U.S. corn import quota, raising it to 1 million…

India has prolonged the anti-dumping duty (ADD) on flax or linen fabric imports from China and Hong Kong for an additional five years. The Ministry of Finance’s Department of Revenue issued the extension last Friday through Notification No. 31/2025-Customs (ADD). The government officially declared the extension following the findings of the sunset review investigation. The Indian government initially introduced the duty on November 10, 2020, for a duration of five years. The sunset review determined that increased imports continued to cause material injury. Flax fabric, commonly referred to as ‘super cotton,’ is extensively used in high-end apparel. The Directorate General…

The United States and Switzerland are negotiating a new trade deal aimed at reducing the 39% tariff currently levied on Swiss exports to the United States, President Donald Trump stated on Monday. Although no exact rate has been determined, Trump confirmed that talks are underway to reduce the trade burden on Switzerland, a major European ally of the United States. “We’re working on a deal to get their tariffs a little bit lower,” Trump said, adding that “I haven’t set any number, but we’re going to be working on something to help Switzerland.” The 39% tariff, implemented in August as…