Author: News Desk

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…

Brazilian President Luiz Inácio Lula da Silva on Wednesday stated that his government will enact reciprocal measures in response to U.S. President Donald Trump’s newly imposed tariff on Brazilian exports. On Wednesday, President Trump declared that the United States will implement a 50% tariff on Brazilian imports beginning August 1. The decision, outlined in a formal letter to President Silva, stems partly from Brazil’s ongoing legal proceedings against former President Jair Bolsonaro. Trump also cited what he described as a “very unfair trade relationship” between the two nations, noting that the new rate marks a sharp increase from the 10%…

The Kenya Revenue Authority (KRA) has enforced a new regulation mandating that all goods imported into Kenya must be accompanied by a Certificate of Origin (COO) provided by importers. On Wednesday, the KRA issued a reminder of the directive that took effect on July 1, requiring all goods imported into Kenya to be accompanied by a Certificate of Origin (COO), a compulsory requirement that applies to importers, customs clearing agents, and the general public. According to KRA’s public notice, the COO must be obtained from an officially recognized authority in the country of export. The Revenue Authority stated that the…

China declared export restrictions on eight companies linked to Taiwan’s military on Wednesday, as the self-governed island launched its annual defense drills, escalating tensions between the two sides, as reported by the Associated Press. China’s Commerce Ministry has placed eight Taiwan-based organizations, primarily from the aerospace and shipbuilding sectors, on its export control list, citing concerns over national and regional security. Among the affected firms are Aerospace Industrial Development Corporation (AIDC), a defense contractor; Jingwei Aerospace Technology Company, known for drone manufacturing; and CSBC Corporation, Taiwan’s largest shipbuilder. The newly enacted rules, effective immediately, ban the export of ‘dual-use items,’…

Mwani Qatar, Qatar’s port management authority, declared that Hamad Port, the nation’s premier gateway for global trade, has received the MSC CHARLESTON, marking the launch of a new direct CHINOOK-CLANGA service operated by the Mediterranean Shipping Company (MSC). The development reflects the rapid expansion of maritime commerce through Hamad Port and reinforces Qatar’s status as a leading regional logistics hub, in line with the Ministry of Transport’s strategic objectives. The new service offers direct weekly sailings between Hamad Port and major global hubs across East Asia and North America’s West Coast. According to Mwani Qatar, Hamad Port is now linked…

President Donald Trump stated on Monday that the United States will implement 25% import tariffs on Japan and South Korea starting August 1 and warned that similar duties will also be imposed on other countries in the coming weeks. Imports from at least 14 countries will be subject to sweeping tariffs beginning August 1, Trump revealed. Trump shared two nearly identical letters on his Truth Social platform, addressed to Japanese Prime Minister Shigeru Ishiba and South Korean President Lee Jae-myung, detailing the upcoming tariff measures. Although a 90-day suspension on U.S. tariffs affecting nations such as Japan and South Korea…

China has broadened its visa-free entry program, now permitting citizens from seven additional countries to stay for up to 30 days without requiring a visa. As part of efforts to boost inbound tourism and revitalize the economy, the initiative has led to a notable surge in foreign visitors. Since late 2023, Beijing has gradually widened its visa-free policy, now allowing travelers from much of Europe, Asia, Latin America, and the Middle East to stay for up to 30 days without a visa. According to the Associated Press, over 20 million visitors entered China without a visa in 2024—more than twice…

China’s Ministry of Finance introduced new restrictions on government procurement of European Union-made medical devices valued at over ¥45 million (approximately $6.3 million). The move is a direct countermeasure to the EU’s recent decision to exclude Chinese companies from participating in major public tenders for medical equipment. The new regulation, which took effect on Sunday, also restricts imports of medical devices from non-EU countries if over 50% of the components used in those products are sourced from the European Union. However, the Finance Ministry clarified that medical devices manufactured by European companies within China, as well as those produced by…

Thailand presented a new proposal to the United States on Sunday and expressed its willingness to make further adjustments if tariff negotiations fail to reach an agreement, according to Finance Minister Pichai Chunhavajira. On Monday, Pichai Chunhavajira shared the latest developments in tariff discussions with the United States while addressing reporters at Government House in Bangkok. He noted that the new proposal builds upon the foundational framework that Thailand had submitted earlier. Pichai stressed that talks were confined to tariffs and product list negotiations. He further stated that, at this point, only a limited number of countries had successfully concluded…