U.S. President Donald Trump on Monday declared a new round of steep tariffs on imports of various household goods, particularly wooden products. In an official proclamation, he stated that the U.S. is imposing a 10% tariff on imported softwood lumber and timber, along with a 25% tariff on kitchen cabinets, upholstered wooden furniture, and vanities. The move will likely drive up the prices of furniture, kitchen cabinets, and other items, adding to the ongoing surge in costs seen over the past few months. According to the Bureau of Labor Statistics, previously implemented and announced tariffs have already driven up furniture…

Pakistan has offered Turkiye 1,000 acres of land at no cost for setting up a dedicated Export Processing Zone (EPZ) within the Karachi Industrial Park. The initiative, initially put forward by Pakistan Prime Minister Shehbaz Sharif during a bilateral meeting with Turkish President Recep Tayyip Erdogan in April, seeks to draw Turkish investment into Pakistan’s manufacturing and export industries while advancing the goal of achieving $5 billion in bilateral trade. A senior Pakistani delegation comprising representatives from the Foreign Office, Special Investment Facilitation Council (SIFC), Board of Investment (BoI), and the Sindh Export Processing Zone Authority recently traveled to Istanbul…

The Canadian Food Inspection Agency (CFIA) imposed a temporary ban on Iranian pistachios and pistachio products on Saturday, following a Salmonella outbreak that has affected over 100 people nationwide. The restriction is part of an ongoing investigation into the contaminated nuts and associated items following the surge in illnesses across Canada. The agency stated that all importers of pistachios and products containing pistachios must provide proof that the goods are not sourced from Iran to be allowed into the country. “Shipments will be subjected to a hold and test for Salmonella or refused entry if importers do not provide this…

Iraq resumed crude oil exports from the semi-autonomous Kurdistan region on Saturday, ending a suspension that lasted over two years due to legal issues and pipeline closures. Iraq’s Oil Ministry declared the resumption of oil exports from the Kurdistan Region through the Iraq-Turkey pipeline, bringing an end to a prolonged halt. The pipeline, inactive since 2023, has been a key point of contention in the ongoing dispute between the federal government in Baghdad and Kurdish officials in Erbil over control of the region’s oil resources. “Operations started at a rapid pace and with complete smoothness without recording any significant technical…

Canada has signed a trade agreement—the Comprehensive Economic Partnership Agreement (CEPA), with Indonesia to remove tariffs on more than 95% of Canadian exports to its largest Southeast Asian trading partner. “This is the right deal at the right time with the right partner,” Canadian Prime Minister Mark Carney said, adding that Indonesia is “Canada’s largest export market in Southeast Asia.” Indonesian President Prabowo Subianto hailed the agreement as a ‘historic moment’ during his visit to Ottawa, noting it is the first bilateral trade deal between Canada and a member of the Association of Southeast Asian Nations (ASEAN). According to AFP,…

China imposed sanctions on six U.S. companies on Thursday amid escalating trade tensions, despite an upcoming high-level meeting between President Donald Trump and Chinese President Xi Jinping. Beijing’s Ministry of Commerce declared that three U.S. companies have been added to its ‘unreliable entity list,’ effectively prohibiting them from engaging in trade and investment within China. According to the ministry, the sanctioned companies, unmanned vehicle manufacturer Saronic Technologies, satellite firm Aerkomm, and subsea engineering company Oceaneering International, were involved in what it described as ‘military-technical cooperation with Taiwan,’ which it claims has seriously harmed China’s national sovereignty, security, and development interests,…

Germany did not authorize any new arms exports to Israel during the five weeks following Chancellor Friedrich Merz’s implementation of partial export restrictions, according to reports released Thursday. Since Merz declared a partial suspension this summer, Germany has not authorized any new arms exports to Israel, effectively reducing permit approvals to zero, exceeding the limitations initially outlined in his pledge. In early August, Merz announced that Germany would stop granting licenses for weapons deemed ‘clearly usable in Gaza,’ indicating that other exports, like spare parts or systems not directly linked to combat, could continue. However, as reported by Politico, a…

The Government of India on Wednesday declared import restrictions on plain silver jewelry, effective until March 31 next year, as per an official notification. According to the notification issued by the Directorate General of Foreign Trade (DGFT), plain silver jewelry has been classified as a restricted item, requiring importers to obtain a valid authorization from the DGFT to import such consignments. “The move, announced through Notification No 34/2025-26 dated September 24, 2025, aims to curb the misuse of Free Trade Agreements (FTAs) and address large-scale imports of silver in the guise of finished jewelry,” the Commerce Ministry said in an…

The U.S. Commerce Department revealed on Wednesday that it had launched a new investigation into the importation of robotics, industrial equipment, and medical devices, raising speculation about the possibility of new tariffs being added to the president’s existing trade measures. The Department of Commerce stated that the investigations, which began on September 2 under Section 232 of the Trade Expansion Act, will evaluate whether these imports pose a threat to U.S. national security, according to filings in the Federal Register. The newest investigations broaden the range of goods that could face increased tariffs, including surgical masks, N95 respirators, gloves, and…

Bangladesh Bank (BB) has increased the limit for advance payments on imports, offering businesses greater flexibility in conducting international trade. In a circular issued on Tuesday, the central bank declared that importers are now allowed to make advance payments of up to $20,000 without requiring repayment guarantees, double the previous cap of $10,000. “To further simplify trade transactions, it has been decided to enhance the aforesaid limits to $20,000 and $50,000, respectively,” the statement reads. Additionally, the limit for payments from exporters’ retention quota (ERQ) accounts has also been raised to $50,000, up from the previous cap of $25,000. According…