The European Commission unveiled a surveillance tool on Thursday to track imports entering the EU using customs data. The new system is supplemented by data from EU member states and industries, enabling authorities to detect import surges from foreign countries in response to regulations and U.S. tariffs impacting global trade. The framework is designed to prevent disruptive trade diversion by blocking the rerouting of large volumes of goods into the EU when they are restricted from other markets due to high tariffs. The surveillance tool will allow the European Commission to rapidly detect such import surges and take measures to…

Brazil’s Ministry of Finance has officially excluded the United Arab Emirates from its list of jurisdictions with preferential tax regimes. The move underscores the UAE’s dedication to maintaining high standards for tax transparency and global financial governance. The progress stems from the official visit of Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, to Brazil in November of the previous year. The ministry stated that the progress reinforces the groundwork for growing bilateral trade and investment. Specialized technical teams from both nations collaborated to meet all necessary criteria for tax transparency and investment standards set by…

The increased tariffs on steel and aluminum imports, imposed by U.S. President Donald Trump, officially took effect on Wednesday, doubling the tariffs from 25% to 50%. The order, declared last week and officially signed by Trump on Tuesday, raised tariffs on all metal imports to the United States. While signing the steel tariffs order, Trump remarked that the UK deserved ‘different treatment’ compared to its European counterparts, citing the Economic Prosperity Deal signed on May 8. The UK received a temporary exemption, maintaining a 25% tariff, as the specifics of its newly signed trade agreement with U.S. shortly after the…

Egypt’s government unveiled an upgraded Export Rebate Program for the 2025–2026 fiscal year, committing £45 billion to drive export growth, boost competitiveness, and strengthen the integration of local industries into global markets. The initiative features expanded support measures and a redesigned framework to strengthen Egyptian exporters. Investment and Foreign Trade Minister Hassan El-Khatib and Finance Minister Ahmed Kouchouk jointly declared the new scheme, highlighting that it developed through an extensive consultation process. The scheme integrates insights from 13 export councils, industry specialists, and key private sector representatives to ensure a well-rounded approach to supporting exports. Egypt’s revamped rebate framework adopts…

The European Union (EU) is intensifying trade talks with the United States and cautioning against potential repercussions as President Donald Trump considers enforcing broad 50% tariffs on almost all EU imports by July 9. The EU has strongly condemned Trump’s unexpected decision to raise tariffs on imported steel to 50%, cautioning that it may reintroduce and broaden retaliatory measures if a resolution is not achieved. Trade negotiations are set to continue this week, with EU trade chief Maros Sefcovic meeting U.S. Trade Representative Jamieson Greer in Paris on Wednesday. Meanwhile, a European Commission delegation is already in Washington for technical…

A trade agreement between India and the United States may soon be finalized, according to U.S. Commerce Secretary Howard Lutnick. “You should expect a deal between the United States and India in the not too distant future because I think we found a place that really works for both countries,” Lutnick said at the eighth edition of the U.S.-India Strategic Partnership Forum (USISPF) on Sunday. The statement comes ahead of the final round of direct negotiations between Indian and U.S. representatives, set to take place in New Delhi this week. India and the U.S. ramped up trade negotiations following U.S.…

The UK government has postponed the planned Brexit-related border inspections on food imports (fruit and vegetables) as it works toward securing a sanitary and phytosanitary (SPS) agreement with Brussels, as reported by Politico. The SPS agreement, agreed upon by both parties at U.K.-EU summit last month, aims to eliminate border checks on plant and animal products. The government stated on Monday that it would delay the upcoming round of border checks on ‘medium risk’ fruit and vegetable imports due to ongoing negotiations, which may take months to finalize. The planned checks has not yet implemented and faced multiple delays due…

Papua New Guinea has made its debut in the global coffee market with its inaugural international shipment of green bean coffee from Morobe Province to Dubai. The achievement advances the nation’s trade diversification efforts and accelerates the modernization of its agricultural sector. Prime Minister James Marape hailed the achievement as a ‘monumental breakthrough’ for the nation’s agricultural sector, signaling a new era in trade expansion. AFIA PNG, a local agribusiness firm in collaboration with the Morobe Provincial Government, facilitated the inaugural export of 121 bags (7.3 tons) of green bean coffee. The shipment departed from Port Moresby and was airfreighted…

The Japanese government on Friday pledged to seek new international markets and strengthen support for more efficient production methods to expand rice exports in response to a projected long-term decline in domestic consumption, Kyodo reported. In its annual white paper on food and agriculture for fiscal 2024, approved by the Cabinet, the Ministry of Agriculture, Forestry, and Fisheries advocates expanding rice exports, even as the Japanese government implements measures to control rising domestic prices, partly due to supply shortages. The report designated China, Singapore, the United States, Hong Kong, and Taiwan as key export destinations. Japan’s agricultural exports hit a record…

India reduced the basic import tax on crude and refined edible oils by 10% on Friday to control inflation in oils and fats while supporting the domestic processing industry. The decision is expected to lower edible oil prices, boost demand, and increase international purchases of palm oil, soybean oil, and sunflower oil. India has reduced the basic customs duty on crude palm oil, crude soybean oil, and crude sunflower oil from 20% to 10%, according to a government notification. As a result, the total import duty on these oils will drop from 27.5% to 16.5%, factoring in additional charges such…