Author: News Desk

India has enforced restrictions on the imports of jute from Bangladesh, as reported by PTI. The restrictions will apply to all imports of jute and allied fiber products from Bangladesh entering India through land and seaports, except the Nhava Sheva seaport in Maharashtra. The Directorate General of Foreign Trade, under the Commerce Ministry, issued a notification on Friday declaring the new restrictions on jute imports. As per the South Asian Free Trade Area (SAFTA) agreement, jute exports from Bangladesh benefited from duty-free access to the Indian market until now. Several jute-related items, such as flax tow and waste (yarn waste…

U.S. President Donald Trump stated that he has officially ended trade negotiations with Canada and plans to unveil a new tariff rate for the country soon. Trade talks, which had been underway for several months, were terminated after Canada declared a digital services tax. Trump characterized the move as ‘a direct and blatant attack’ on the United States. “Based on this egregious tax, we are hereby terminating all discussions on trade with Canada, effective immediately,” Trump wrote on Truth Social on Friday. He also stated that he would introduce new tariffs on Canada within the next few days. Canada’s 3%…

As part of efforts to strengthen the domestic wine sector, the Zimbabwean government has removed excise duty on imported raw wine for authorized manufacturers. The policy, introduced through Statutory Instrument 68 of 2025, took effect on Friday and is set to remain in force for two years. The move was taken by the Minister of Finance, Economic Development, and Investment Promotion, Professor Mthuli Ncube, who officially suspended the excise duty. The amendment revises the 2003 Customs and Excise (Suspension) Regulations, first issued as Statutory Instrument 257. It applies to raw wine under commodity code 2204.29.99 and permits approved domestic producers…

China declared on Friday that it had reached an agreement with the United States to ease technology restrictions and facilitate the resumption of rare earth exports. Following weeks of negotiations, China has indicated its intention to authorize rare earth mineral exports to the United States, a move that came hours after U.S. officials confirmed the successful conclusion of a bilateral agreement, according to CNN. “China will approve the export application of controlled items that meet the conditions in accordance with the law. The United States will cancel a series of restrictive measures taken against China accordingly,” China’s Commerce Ministry stated.…

The UK government unveiled a new trade strategy on Thursday to boost British exports and strengthen shields against the influx of low-cost foreign imports. The initiative comes in response to growing global instability and the resurgence of protectionist policies sparked by the wave of U.S. tariffs introduced by President Donald Trump. Business Secretary Jonathan Reynolds stated that the initiative will “ensure British businesses are protected from harm.” The strategy outlines plans to expand government-backed financial support for exporters and offer targeted guidance to help small and medium-sized enterprises navigate intricate trade regulations. One key measure of the policy is to…

China condemned Taiwan on Wednesday for placing two major Chinese tech firms on its export blacklist, denouncing the move as ‘despicable’ and pledging to safeguard its national interests. Taiwan’s government this month placed 601 entities from various countries, including China’s Huawei and Semiconductor Manufacturing International Corporation (SMIC), on its restricted ‘strategic high-tech commodities list.’ Taiwan, a major center in the global semiconductor industry, now requires its domestic companies to obtain government approval before exporting high-tech products to Huawei, SMIC, or any entities listed under its new trade restrictions. Zhu Fenglian, spokeswoman for Beijing’s Taiwan Affairs Office, accused Taipei of attempting…

The United States and Nigeria took a crucial step to broaden the economic ties by launching working group meetings under the U.S.–Nigeria Commercial and Investment Partnership (CIP). The initiative was inaugurated in Abuja on Tuesday, where senior officials and private sector stakeholders from both countries gathered to promote commercial collaboration and explore new avenues for trade and investment. The Commercial and Investment Partnership was established through a five-year Memorandum of Understanding signed by U.S. Commerce Secretary Gina Raimondo and Nigerian Minister Dr. Jumoke Oduwole in July 2024. The CIP aims to strengthen bilateral relations by tackling sector-specific challenges and promoting…

The Vietnam Association of Seafood Exporters and Producers (VASEP) on Monday reported that the U.S. Department of Commerce (DOC) had issued the final findings of its 20th administrative review (POR20) concerning anti-dumping duties on frozen pangasius fillets exported from Vietnam to the United States. The review covers shipments made between August 1, 2022, and July 31, 2023. The review determined that seven Vietnamese companies have qualified for a 0% anti-dumping duty, an increase of six companies from the previous review (POR19). These include Bien Dong Seafood Company Limited and its affiliate Bien Dong Hau Giang Seafood JSC, along with Can…

Thailand has introduced travel restrictions for those entering Cambodia amid ongoing tensions over a prolonged border dispute between the two nations. Thailand began enforcing land border restrictions on Monday, including a ban on tourists entering Cambodia, as part of the ongoing conflict between the nations. On Monday, Prime Minister Paetongtarn Shinawatra declared that Thailand would intensify screenings at land borders and restrict outbound travel for tourists. She clarified that only students, individuals seeking medical care, and those needing to buy essential supplies would be permitted to cross the border. While the primary goal of the measure is to curb travel…

Malaysia has entered into a free trade agreement with the member states of the European Free Trade Association (EFTA), fostering economic collaboration and investment ties with Switzerland, Norway, Iceland, and Liechtenstein. The Malaysia-EFTA Economic Partnership Agreement (MEEPA) was officially signed on Monday in Tromsø, Norway, by Malaysia’s Minister of Investment, Trade and Industry, Tengku Zafrul, together with Norway’s Minister of Trade and Industry, Cecilie Terese Myrseth; Iceland’s Minister of Finance and Economic Affairs, Daði Már Kristófersson; Liechtenstein’s Deputy Prime Minister and Minister of Foreign Affairs, Environment and Culture, Sabine Monauni; and Switzerland’s Vice President and Federal Councillor, Guy Parmelin. Minister…