President Donald Trump on Tuesday revealed that his administration is considering ending trade ties with China over its refusal to purchase U.S. soybeans and warned of potential restrictions on cooking oil and other imports from the country as a retaliatory measure. In a Truth Social post, Trump accused China of committing an ‘economically hostile act’ by “purposefully not buying soybeans and causing difficulty for soybean farmers.” “We are considering terminating business with China, having to do with cooking oil and other elements of trade as retribution,” he added. Trump said he has been considering ending trade with China involving cooking…

Nigeria’s Federal Government, through the Rural Electrification Agency (REA), has entered into a strategic alliance with Sun King, a leading global off-grid solar firm, aimed at enhancing domestic manufacturing, broadening access to renewable energy, and potentially reducing Nigeria’s solar import costs by as much as $150 million over the next five years. The Memorandum of Understanding, signed at the Nigeria Renewable Energy Innovation Forum in Abuja, was signed in the presence of Vice President Kashim Shettima and Sun King’s co-founder and CEO, Patrick Walsh. “With the right enabling support from REA and wider government, Sun King estimates that its planned…

India and Canada on Monday outlined a new roadmap to strengthen collaboration in key areas such as trade, critical minerals, and energy. The development comes after Canadian Foreign Minister Anita Anand held meetings with Indian Prime Minister Narendra Modi and External Affairs Minister S. Jaishankar to restore bilateral relations that were strained after the killing of a Sikh separatist in 2023. Under the agreement, New Delhi and Ottawa are committed to a series of initiatives, including launching ministerial-level talks on bilateral trade and investment, restarting the India-Canada CEOs Forum in early 2026, reviving the energy partnership, holding discussions on civil…

The Philippine government has removed its ban on poultry imports from New Zealand, marking another rollback in trade restrictions as officials continue to ease measures linked to previous animal disease concerns. The Department of Agriculture (DA) declared on Monday that it has lifted the temporary import ban on domestic and wild birds, as well as related products, from New Zealand. Agriculture Secretary Francisco Tiu Laurel officially removed the ban by signing Memorandum Order (MO) 62 on October 9, replacing MO 1 issued in January due to an outbreak of avian influenza in New Zealand. The new directive also permits the…

South Korean Foreign Minister Cho Hyun on Monday stated that the U.S. has presented a new proposal related to Seoul’s pledged $350 billion investment. He added that South Korea is currently reviewing the revised offer, indicating potential progress in the previously stalled tariff talks. “The $350 billion investment initially proposed by the U.S. included loans and loan guarantees, but it was later revised to consist solely of direct investment,” Cho informed lawmakers during a session of the National Assembly’s Foreign Affairs and Unification Committee. South Korea has offered an unlimited currency swap line in response to the U.S. demand, aiming…

Taiwan’s Ministry of Economic Affairs stated on Sunday that China’s recent curbs on rare earth exports are not expected to impact the island’s semiconductor sector, since the restricted materials are not essential to chip production. The ministry clarified that the restricted elements differ from those required for semiconductor manufacturing, indicating the new measures will not significantly affect chip production. Elements like neodymium and dysprosium, typically used in magnets and electric motors, are distinct from the ultra-pure silicon, gallium, and other materials essential for semiconductor manufacturing. The ministry noted that Taiwan secures most of its critical rare-earth materials and derivatives from…

Bangladesh’s Ministry of Commerce has authorized 12 local firms to export a total of 2,984 tons of raw jute, according to a recent circular, as reported by The Financial Express. As stated in the circular, the ministry granted export approval on September 30, following applications submitted via the Bangladesh Jute Association. The companies granted export approval include International (208 tons), Popular Jute Exchange (822 tons), Sartaj Trade International (366 tons), Rashmi Kabir (104 tons), Janani Enterprise (52 tons), Sharif Trade Village (26 tons), The World Jute Garden (25 tons), Ideal Trade International (192 tons), RS Traders (130 tons), Bulbul Traders…

Turkey and the United States are developing a renewed strategy to enhance bilateral trade and move closer to their longstanding goal of $100 billion in commerce, with a focus on deepening cooperation across vital sectors such as automotive and nuclear energy. The Foreign Economic Relations Board of Turkey (DEİK) and the Turkey-U.S. Business Council (TAİK) have initiated efforts to revise a joint trade roadmap initially developed with the Boston Consulting Group in 2019–2020. The updated plan is designed to reflect changing global conditions and reinforce private-sector collaboration between the two NATO partners. According to officials, TAİK has consulted business leaders…

President Donald Trump declared on Friday that starting next month, the U.S. will impose new 100% tariffs on Chinese imports, citing what he described as China’s ‘aggressive’ actions related to export controls. In a social media post, Trump revealed that the new tariffs would go into effect on November 1. He stated that the decision was in response to China’s extraordinarily aggressive stance on trade, particularly concerning its export control measures. Trump also noted that, on the same date, the U.S. would introduce export restrictions on “any and all critical software.” The announcement came just hours after Trump threatened a…

New Zealand and Singapore unveiled a new Comprehensive Strategic Partnership (CSP) on Friday to commemorate 60 years of diplomatic relations between the two nations. New Zealand Prime Minister Christopher Luxon and Singaporean Prime Minister Lawrence Wong jointly revealed the agreement during an event in Auckland. The Comprehensive Strategic Partnership aims to strengthen collaboration in six major areas: trade and economic relations, defense and security, science and innovation, cultural and social ties, climate and sustainable development, and supply chain resilience and connectivity. Wong stated that Singapore’s first free trade agreement (FTA) laid the foundation for bolder collaborations between the two island…