Author: News Desk

The United States and the United Kingdom declared a trade agreement on Tuesday that will ease certain U.S. tariffs on British goods, though some will remain in place. U.S. President Donald Trump and British Prime Minister Keir Starmer praised the deal as a crucial move toward strengthening trade relations. The move marks the first trade agreement the United States has secured since the White House’s broad reciprocal tariffs disrupted global stock markets and heightened concerns about  U.S. recession. Trump and Starmer affirmed the trade agreement during a live broadcast phone call. Trump emphasized that the deal is expected to generate…

The European Commission on Thursday revealed plans to introduce new tariffs on U.S. imports valued at up to $100 billion including high-value goods such as aircraft, if ongoing negotiations with the U.S. fail to resolve the trade dispute. “The EU remains fully committed to finding negotiated outcomes with the US,” European Commission President Ursula von der Leyen said. A published list by the European Commission contains passenger cars, medical devices, chemicals, plastics, and a range of agricultural products. Bourbon and other alcohols have been reinstated after France and Italy initially urged its removal due to concerns about possible repercussions from…

The Donald Trump administration plans to revoke the AI Semiconductor Export Control Policy introduced by the Biden administration, as reported by Reuters and other sources on Wednesday. According to Reuters, a spokesperson for the Department of Commerce described the AI export control policy introduced under the Biden administration as excessively complicated and bureaucratic, stating that it will be replaced. The Biden administration introduced the AI semiconductor export control system, known as the ‘AI Expansion Framework,’ in January during the closing days of Biden’s term. The rule aimed to tighten restrictions on AI chip exports and related technologies, specifically targeting China…

The Kenyan government has banned the import of 50 pesticide brands, many of which are already prohibited in their countries of origin, as part of efforts to promote safer and more sustainable farming. Agriculture Cabinet Secretary Mutahi Kagwe announced the ban on 50 pesticides deemed unsuitable for use. Speaking in Nakuru on Wednesday, he stated that while he did not disclose specific brands, he had received a list of the restricted products from the Pest Control Products Board (PCPB). The CS stated that the government plans to support local pesticide manufacturers in producing safer, domestically made products, particularly those derived…

Singapore and the European Union officially signed the European Union-Singapore Digital Trade Agreement (EUSDTA) today, strengthening the collaboration in digital trade. The agreement aims to establish clearer guidelines and greater legal certainty for both citizens and businesses, fostering a more secure and efficient digital trade landscape. Singaporean Minister-in-charge of Trade Relations Grace Fu and EU Commissioner for Trade and Economic Security Maros Sefcovic signed the EUSDTA at The Treasury on High Street. The agreement serves as a complementary framework to the EU-Singapore Free Trade Agreement (EUSFTA), which has been in effect since 2019. The key feature of the EUSDTA is…

Senior U.S. economic officials will meet Chinese counterparts in Switzerland this week for the first formal trade discussion between the nations since President Trump sharply raised tariffs on Chinese imports. To ease escalating trade tensions, both sides are seeking a resolution to alleviate the financial strain caused by the ongoing dispute. Based on statements from the offices of the U.S. trade representative and the Treasury Department, Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer will engage in discussions with Chinese officials in Geneva to address trade and economic matters. A spokesperson for China’s Ministry of Foreign Affairs revealed that…

The UK and India have finalized a trade agreement that simplifies exports for UK businesses, enabling them to sell whisky, cars, and other goods to India more efficiently. The deal also reduces tariffs on Indian clothing and footwear, promoting smoother trade between the two nations. After three years of negotiations, the UK and India have officially reached a trade agreement. Prime Ministers Keir Starmer and Narendra Modi finalized the deal during a call on Tuesday, following an intense rounds of discussion by trade officials in London last week. The UK has secured its most significant trade agreement since Brexit, marking…

Nigerian President Bola Tinubu has banned the import of foreign goods, particularly those that can be produced locally in Nigeria. To enhance Nigeria’s domestic economy and encourage local production, President Bola Tinubu has implemented a policy preventing Ministries, Departments, and Agencies (MDAs) from purchasing foreign goods or services that are readily available within the country unless granted a written waiver by the Bureau of Public Procurement (BPP). He also imposed restrictions on expatriates entering Nigeria to perform jobs that local contractors and artisans are capable of handling, except when a strong justification is provided. Tinubu described the policy as a…

Bangladesh has decided to halt cattle imports before Eid-ul-Azha, citing a surplus of sacrificial animals beyond the country’s demand, according to Fisheries and Livestock Adviser Farida Akhter. On Sunday, Farida Akhter declared that the government will not import sacrificial animals from neighboring countries for Eid-ul-Azha, as the country already has more animals than required. She stated that starting Sunday, cattle would be prohibited from entering the country through illegal routes, and all forms of cattle imports from foreign nations would be entirely banned. During a press conference at the Bangladesh Secretariat, the adviser outlined steps to evaluate the demand for…

Malaysia anticipates a potential decrease in U.S. tariffs on its exports as ongoing negotiations with Washington progress. On Monday, Prime Minister Anwar Ibrahim cautioned that lingering trade disputes could negatively impact the nation’s economic outlook. Anwar informed Parliament during a special session that, while negotiations are still in the early stages, the U.S. government has agreed to continue discussions with Malaysia. If successful, these talks could lead to a reduction in reciprocal tariffs. He pointed out that the temporary suspension of most tariffs until July had provided short-term relief and stressed that Malaysia is unlikely to meet its projected economic…