Author: News Desk

The Federal Government of Nigeria stated that it plans to end the country’s reliance on fish imports by boosting domestic production. During a consultative meeting with fisheries cooperative groups on Wednesday in Abuja, Adegboyega Oyetola, Minister of Marine and Blue Economy, emphasized the government’s vision to position aquaculture as a foundation for strengthening food security, job creation, and export growth. “The Federal Government is fully committed to supporting the fisheries and aquaculture subsector through policy, technical support, and financial inclusion. We will scale up domestic fish production, reduce dependency on imports, and reposition the sector for sustainable growth,” Oyetola said.…

Canadian Prime Minister Mark Carney is implementing a range of trade protections to support Canada’s steel industry against foreign imports. The new measures include tighter restrictions on steel imports, even from nations with free trade agreements, as part of a broader effort to shield domestic mills from market disruptions. Carney made the declaration on Wednesday in Hamilton, presenting it as support for the steel industry, which has been hit by layoffs and reduced production in the weeks following the steep import tariffs imposed by the U.S. Carney also outlined that his government will allocate $1 billion from the Strategic Innovation…

U.S. President Donald Trump on Tuesday declared that the United States has finalized a trade agreement with Indonesia, which includes significant purchase commitments from the Southeast Asian nation. The agreement follows negotiations to avoid steeper tariffs. In a post on Truth Social, Trump said Indonesian exports to the U.S. will now face a 19% tariff, down from the previously threatened 32%. After the initial disclosure, Trump told reporters that Indonesia would impose no tariffs on U.S. exports. He also stated that the country had pledged to purchase “$15 billion in American energy, $4.5 billion in agricultural goods, and 50 Boeing…

China’s Ministry of Commerce declared on Tuesday that the export of critical technologies related to EV battery production must now require government licenses. According to the New York Times, the new restrictions are now in effect and apply to any international transfer of technologies, whether through trade, foreign investment, or joint innovations. The newly imposed controls cover techniques involved in producing lithium iron phosphate (LFP) and lithium manganese iron phosphate (LMFP) battery cathodes, along with cutting-edge methods for extracting and refining lithium from sources like brine and spodumene. Exporters are now required to secure official government authorization before sharing these…

The Pakistani government has scrapped its sugar import tender after the IMF rejected a proposed tax waiver on imported sugar. The Trading Corporation of Pakistan (TCP) had initially planned to procure 300,000 metric tons of sugar, but the tender was withdrawn due to a dispute over the exemption. Following the IMF’s rejection of the proposed tax waiver, the TCP has issued a revised tender to import 50,000 metric tons of sugar, substantially scaling back its original plan. International suppliers have been invited to submit bids by July 22, marking a notable shift in Pakistan’s sugar import strategy amid financial constraints…

NVIDIA CEO Jensen Huang stated on Tuesday that the company has received authorization from the U.S. government to export its H20 AI chips to China, marking a shift from previous restrictions that had limited the sale of NVIDIA’s AI technology to the Chinese market. In an April regulatory filing, NVIDIA revealed that the U.S. government had instructed the company to obtain a license in order to sell its AI chips to China, halting the company’s sales. The H20 chips had been specifically designed to comply with previous U.S. export controls aimed at limiting technology transfers to Beijing. According to a…

India’s pharmaceutical sector is warning of a looming export disruption after the Central Drugs Standard Control Organization (CDSCO) mandated that all Certificate of Pharmaceutical Product (COPP) applications be submitted solely through its online portal, as reported by CNBC. Industry representatives say the abrupt shift to digital-only submissions could hinder export operations, especially without a transitional phase to ease the change. Pharmexcil, the Pharmaceuticals Export Promotion Council of India, has raised serious concerns over the abrupt shift to mandatory online COPP submissions. The council warns that this change could threaten nearly 45% of India’s pharmaceutical exports, particularly to Rest of World…

The Japanese government on Friday declared that China had lifted its decades-long ban on Japanese beef imports, signaling a potential return to the trade after 24 years. The move follows discussions held earlier that day between Chinese Vice Premier He Lifeng and Hiroshi Moriyama, secretary-general of Japan’s ruling Liberal Democratic Party, during which China finalized its internal quarantine procedures. According to diplomatic sources, Vice Premier He Lifeng informed Hiroshi Moriyama that China is ready to ratify a 2019 bilateral agreement, marking a step toward restarting Japanese beef exports. China halted imports of Japanese beef in 2001 due to a mad…

U.S. President Donald Trump has declared a 35% tariff on Canadian imports, taking effect August 1, despite both nations working to finalize a new trade agreement before a self-imposed deadline. On Thursday, Trump sent a letter to Canada shortly after an interview in which he cautioned European Union countries to prepare for a potential tariff announcement within the next day. In his letter posted on Truth Social, Trump stated that “Instead of working with the United States, Canada retaliated with its own Tariffs.” In response, Canadian Prime Minister Mark Carney affirmed that his government remains committed to defending Canada’s workforce…

The Pakistan Central Cotton Committee (PCCC), the All Pakistan Textile Mills Association (APTMA), and the Ministry of National Food Security and Research (MNFSR) have forged a memorandum of understanding (MoU) to resolve overdue cotton cess payments owed by APTMA to PCCC. Federal Minister for Food Security Rana Tanweer Hussain and APTMA Chairman Kamran Arshad formally endorsed the agreement alongside APTMA North Chairman Asad Shafi and the head of the Pakistan Central Cotton Committee. “The initiative was a part of continuation of national agriculture policy of the government. Its not just an agreement but a decisive practical step to help farmers…