Author: News Desk

Japan and South Korea on Monday voiced concerns that India’s regulatory measures were impacting their steel companies, even as both nations reaffirmed plans to expand investment. The remarks came during an interactive session hosted by India’s Ministry of Steel ahead of the upcoming Bharat Steel 2026 event. During the session, the country representatives stated that India’s quality control regulations, safeguard duties, and other import restrictions are limiting opportunities for their steel companies. Japan’s Deputy Chief of Mission, Takashi Ariyoshi, noted that while Japanese companies are very active in India, they are encountering some ‘real’ challenges. He pointed to the difficulties…

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has directed its members to suspend business dealings with four Indian firms after one buyer allegedly failed to settle payment for goods already shipped. In a notification issued on Saturday, the apparel body named the companies as Indian Garage, Styleverse Lifestyle, Aditya Birla Fashion and Retail, and Grasim Industries Limited. The advisory follows reports that Styleverse Lifestyle failed to clear export dues to Bangladeshi supplier Ducati Apparels, despite receiving garment shipments. “Styleverse Lifestyle Private Limited, a sister concern of the Aditya Birla Group, has failed to settle outstanding export payment amounting to…

The UK government has halted the export of advanced industrial machinery to an Armenian firm after an inquiry revealed links between the company and Russia’s defense sector. According to a report by The Guardian, the UK Department for Business and Trade is reconsidering its earlier ruling that no license was needed for the export of certain equipment, as the machinery might be used in the production of missile and drone parts. Cygnet Texkimp, a company based in Cheshire, had planned to deliver two machines capable of producing carbon fiber ‘prepreg,’ a material essential in both civilian aerospace and military applications…

U.S. President Donald Trump’s administration is seeking to postpone legal proceedings related to tariff refunds for importers after the Supreme Court struck down his global duties last week. According to the court filing on Friday, the administration is seeking a delay of up to four months before resuming litigation over tariff refunds in the U.S. Court of International Trade. The Supreme Court ruling last week dealt a significant blow to Trump’s signature economic policy and is expected to trigger a complex and legally challenging refund process, as importers file claims to recover the tariffs they paid. “In a case on…

China on Friday declared it will lift several tariffs on Canadian agricultural imports, signaling a major step to ease trade tensions with Ottawa following recent diplomatic talks. According to the Customs Tariff Commission of the State Council, the revised measures will take effect on Sunday and will remain in place until December 31. The decision follows renewed diplomatic engagement between the two nations, after Canadian Prime Minister Mark Carney reached an initial agreement with China during his visit in January. According to China’s finance ministry, Beijing will suspend the 100% tariffs on Canadian canola meal and peas and will lift…

Kenya and the United States have restarted talks to establish a reciprocal trade framework, marking progress toward a long-term bilateral agreement. Following the initial round of consultations in Washington, D.C., Kenya aims to strengthen economic ties with the U.S., potentially boosting exports, attracting investment, and enhancing commercial collaboration. The first discussions addressed trade in goods, tariffs, non-tariff barriers, agricultural products, services, digital trade, intellectual property, investment, and economic security. The Kenyan delegation was led by Principal Secretary for Trade Regina Ombam, while the U.S. team was headed by Acting Assistant U.S. Trade Representative for Africa Osvaldo Gómez-Martínez. Both nations reiterated…

Chinese suppliers have significantly increased the prices of optical fiber supplied to Russian buyers, as Russia continues to rely on imports following the suspension of operations by its sole domestic producer. According to industry sources, Russia’s only local optical fiber manufacturer has been inactive since May last year due to attacks by Ukrainian forces. The suspension has rendered Russia entirely dependent on Chinese imports for the critical material used in both telecommunications infrastructure and military drone systems. Industry sources report that Chinese suppliers have increased prices for Russian buyers by roughly 2.5 to 4 times since the beginning of 2026.…

The U.S. Treasury Department declared on Wednesday that it will permit the resale of Venezuelan oil to Cuba, provided the transactions support the Cuban private sector rather than its state-run government. The decision follows U.S. President Donald Trump’s previous directive to block fuel shipments to Cuba in an effort to pressure the government. The U.S. Treasury’s Office of Foreign Assets Control (OFAC) stated that it will adopt a more flexible licensing approach for certain applications seeking approval to resell Venezuelan oil for commercial and humanitarian purposes in Cuba. According to the Treasury, the policy is intended to support the Cuban…

Brazil has halted cocoa imports from the Ivory Coast, citing significant phytosanitary risks and issues and concerns over the reliability of the supply chain. Brazil has suspended imports of dried and fermented cocoa beans from the Ivory Coast, the world’s top cocoa producer, where the industry is struggling with declining exports. Published in the country’s official gazette on Tuesday, the decision reflects mounting dissatisfaction among Brazilian authorities over what they describe as shortcomings in export oversight from the leading cocoa supplier. Brazil’s Ministry of Agriculture stated that the suspension was prompted by a large influx of cocoa beans from neighboring…

Zimbabwe has halted the export of all raw minerals and lithium concentrates with immediate effect, including shipments already in transit. On Wednesday, Polite Kambamura, the Minister of Mines and Mining Development, declared the export ban, emphasizing that the decision was taken in the national interest. He stated that the suspension is intended to enhance transparency, ensure compliance, and strengthen accountability in the management of Zimbabwe’s mineral resources. The measure also aims to promote in-country value addition and beneficiation, enabling the nation to retain greater economic benefits from its mining sector. “To this effect, the Zimbabwe Revenue Authority, Minerals Marketing Corporation…