Author: News Desk

India and the UK will sign a free trade agreement, the Comprehensive Economic and Trade Agreement (CETA), on Thursday. Indian Commerce and Industry Minister Piyush Goyal and the UK’s Secretary of State for Business and Trade Jonathan Reynolds will sign the deal, with Indian Prime Minister Narendra Modi and UK Prime Minister Keir Starmer attending the ceremony. The deal enables 99% of Indian exports to enter the UK without any duties, effectively covering nearly the entire trade value. In return, India will lower or eliminate tariffs on 90% of British product categories, which represent 92% of its imports, as reported…

President Donald Trump declared on Wednesday that the United States has secured a trade agreement with Japan, which will lower tariffs on Japanese goods from 25% to 15%. “We just completed a massive deal with Japan, perhaps the largest deal ever made,” Trump wrote on Truth Social. As part of the trade deal, Japan will invest $550 billion in the United States, with the U.S. set to receive 90% of the profits. He also stated that Japan will open its market to American exports, including cars, trucks, rice, and various other agricultural products. The newly declared 15% tariff rate is…

South Korea’s newly appointed finance minister will hold tariff negotiations with his U.S. counterpart in Washington this week, marking the first round of trade talks under President Lee Jae-myung’s administration. The discussions come as both nations work to reach an agreement before the implementation of sweeping tariffs on August 1. “We have confirmed the date for a ‘2+2’ meeting with the U.S. on July 25,” Korea’s Deputy Prime Minister and Minister of Economy and Finance, Koo Yoon-cheol said on Tuesday. Trade Minister Yeo Han-koo will join Koo at the meeting, and U.S. Treasury Secretary Scott Bessent, along with Trade Representative…

The European Commission is proposing a new €20 fee for third-country nationals seeking visa-free entry into the European Union, almost three times higher than the previously approved amount. The proposed fee is linked to the European Travel Information and Authorization System (ETIAS), which the EU is establishing as a counterpart to the U.S. ESTA program. ETIAS will apply to visa-free travel across 30 countries, including all EU member states except Ireland, along with Iceland, Norway, Liechtenstein, and Switzerland. The ETIAS Regulation, which was adopted in 2018, initially set the fee at €7. Due to inflation and increased operational expenses, including…

China on Monday urged the European Union to reverse its decision to impose sanctions on two Chinese banks, warning that it would take countermeasures to safeguard its national interests. The warning comes ahead of a scheduled meeting later this week between Chinese President Xi Jinping and European Commission President Ursula von der Leyen. The European Union unveiled a fresh round of sanctions last Friday, targeting two Chinese banks and five companies accused of aiding Russia in bypassing restrictions tied to the Ukraine conflict. Among the sanctioned entities are Heihe Rural Commercial Bank and Heilongjiang Suifenhe Rural Commercial Bank, both of…

Bangladesh has entered into a Memorandum of Understanding (MoU) with the United States to import 700,000 tons of high-quality wheat each year for the next five years at competitive rates. The agreement was reached to offset the new import tariffs imposed by the Trump administration. According to a statement from Bangladesh’s Ministry of Food (MoFood), the MoU was signed on Sunday ahead of the third round of tariff negotiations between Bangladesh and the United States. Md Abul Hasanath Humayun Kabir, Director General of Bangladesh’s Food Directorate (DGoF), and Joe Sowers, Vice President for South and Southeast Asia at U.S. Wheat…

India and the United States wrapped up the fifth round of negotiations for the proposed Bilateral Trade Agreement (BTA) in Washington. The four-day talks, held from July 14 to 17, were headed by Rajesh Agrawal, India’s chief negotiator and Special Secretary in the Department of Commerce. “The Indian team is coming back,” an official told PTI, adding that the discussions had concluded. These negotiations are crucial, as both India and the United States aim to finalize an interim trade agreement before August 1—the date when the suspension of Trump-era tariffs, including a 26% duty on Indian goods, is set to…

Indonesia will remove import tariffs on the majority of goods originating from the United States under a recently finalized trade deal with the Trump administration. However, items such as alcoholic beverages and pork will continue to face import duties, a senior government official stated on Friday, as reported by the Jakarta Globe. Susiwijono Moegiarso, Secretary at the Coordinating Ministry for Economic Affairs, stated that Indonesian ministries are in the process of determining which U.S.-made goods will be excluded from the zero-tariff provisions. “There are several product categories we are still reviewing that will not receive zero-tariff treatment,” Susiwijono said. Out…

New Zealand Trade Minister Todd McClay declared on Friday that Canada has agreed to open its market to New Zealand dairy products, resolving a longstanding trade disagreement. New Zealand dairy exports were previously restricted from accessing the Canadian market, even though such restrictions violated the terms of the CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership) trade agreement. McClay stated that Canada has agreed to adjust its dairy import quotas, a move expected to generate up to $157 million in benefits for New Zealand dairy producers. “The government is pleased that this dispute has now been settled, and New Zealand…

A group of U.S. solar panel makers has urged the Commerce Department to impose anti-dumping and countervailing duties on imports from Indonesia, Laos, and India, alleging that the manufacturers are flooding the U.S. market with underpriced products to weaken local competition, according to a report by Reuters. The Alliance for American Solar Manufacturing and Trade submitted the petition to safeguard billions in domestic investments and remain competitive against products largely manufactured by Chinese firms. The petition alleges that that Indian firms and predominantly Chinese-owned manufacturers in Indonesia and Laos are violating trade rules by undermining U.S. solar producers and flooding…