Author: News Desk

U.S. President Trump on Thursday warned that the U.S. may impose a 50% tariff on aircraft imported from Canada, marking the latest escalation in his trade dispute with the country as tensions with Prime Minister Mark Carney intensify. The president said the move was in retaliation for Canada’s refusal to certify jets produced by Savannah, Georgia–based Gulfstream Aerospace. On Thursday, Trump wrote on Truth Social that the U.S. would revoke certification for all Canadian aircraft, including those manufactured by Quebec-based Bombardier, the country’s largest aircraft manufacturer. “If, for any reason, this situation is not immediately corrected, I am going to…

Bangladesh is considering levying import duties of 10–20% on cotton yarn, primarily imported from India, in anticipation of an indefinite strike by the nation’s textile millers. Bangladesh’s imposition of customs duties could disrupt the rebound in domestic cotton prices, which had declined in 2025 following duty-free imports from India. Industry estimates suggest that ending duty-free access could push yarn duties to nearly 37%, increasing raw material costs by around 60 cents per kilogram and directly impacting Bangladesh’s $28 billion knitwear export sector. During 2024–25, Bangladesh’s yarn imports from India climbed to 556.12 million kilograms valued at $1.79 billion, reflecting a…

The Federal Government of Nigeria revealed that it is taking steps to phase out imports of defense and security equipment, aiming to manufacture all required assets domestically within the next two to five years. Nigeria’s Minister of State for Defense, Bello Matawalle, made the remarks on Thursday in Abuja during the unveiling of the DICON X-Shield light tactical armoured vehicle, along with several civilian armoured vehicles manufactured locally. Matawalle, who was represented at the event by the Director-General of the Defense Industries Corporation of Nigeria, Major General Babatunde Alaya, said the push for indigenous defense manufacturing is merely the beginning…

Pakistan and China have unveiled a large-scale mineral cooperation initiative designed to attract $10 billion in new investment, with a goal of boosting annual mineral exports to $50 billion by 2035. The plan was declared at the China-Pakistan Mineral Cooperation Forum, held as the two countries mark 75 years of diplomatic relations. Pakistan’s Federal Minister Ahsan Iqbal stated that the partnership focuses on industrial development beyond infrastructure, describing it as a key pillar of CPEC 2.0 and the country’s Uraan economic framework. He added that the initiative is expected to promote sustainable growth and generate employment opportunities. Pakistan and China…

The World Travel & Tourism Council (WTTC) has expressed concern over proposed modifications to the U.S. ESTA program, cautioning that the changes could severely affect the nation’s travel sector and result in a substantial decline in international arrivals. A recent WTTC report indicates that the proposed changes could cause international arrivals to the U.S. to drop by 23.7% in 2026, equating to 4.7 million fewer travelers. The decline is projected to cost the U.S. economy $15.7 billion in reduced tourist spending, with the broader travel and tourism sector facing an additional $21.5 billion in economic losses. The U.S. Customs and…

Pakistan’s seafood exports to China reached nearly $255 million in 2025, according to figures from the General Administration of Customs of China (GACC). The increase was driven by steady demand for frozen fish and cephalopods, along with a diversified range of processed seafood products across both coastal and inland markets. China Customs data indicate that Pakistan’s seafood exports have expanded beyond conventional frozen fish, reflecting wider consumption and rising demand from foodservice and processing sectors. Despite this diversification, frozen fish remained the largest export segment, generating approximately $64.6 million in shipments to China. Pakistani frozen shipments were largely directed to…

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) stated that Nigeria will phase out fertilizer imports as growing private-sector investment boosts domestic production capacity and positions the country as a hub for value-added oil and gas products. NMDPRA Chief Executive Saidu Mohammed revealed the development during a facility inspection at Indorama Eleme Fertilizer and Chemicals Limited in Eleme Local Government Area, Rivers State, on Monday. He added that, with the anticipated production levels, Nigeria plans to commence urea exports by 2028 as part of its efforts to position the country as a leading hub for value-added oil and gas…

Cambodia and Laos have established a new agreement to facilitate the movement of agricultural goods across their shared border, boosting regional trade ties and providing a quicker pathway for Cambodian produce to reach China. The agreement, signed in Phnom Penh, outlines concrete measures for the transit and transshipment of agricultural products via Laos. The signing ceremony was overseen by Cambodia’s Minister of Agriculture, Forestry and Fisheries, Dith Tina, and Laotian Minister of Agriculture and Forestry Dr. Linkham Douangsavanh. Officials stated that the initiative reflects growing collaboration between the two countries and a mutual commitment to enhancing regional supply chains. As…

Canadian Prime Minister Mark Carney said on Sunday that Canada has no plans to seek a free trade agreement with China, following U.S. President Donald Trump’s threat to impose punitive tariffs on Ottawa. Carney emphasized that Canada remains committed to its obligations under the Canada‑U.S.‑Mexico trade pact—CUSMA and will not seek a separate free trade deal without informing the other two partners. “We have no intention of doing that with China or any other nonmarket economy,” Carney said. “What we have done with China is to rectify some issues that developed in the last couple of years.” The prime minister…

The European Council officially approved new regulations on Monday to gradually eliminate all imports of Russian pipeline gas and LNG, representing a significant move to reduce the EU’s reliance on Russian energy as part of the REPowerEU plan. The regulation sets out a phased ban, with Russian gas imports banned six weeks after the rules take effect, while temporary transition allowances remain for existing contracts. A complete ban on LNG will begin in early 2027, and pipeline gas imports will be fully halted by autumn of the same year. Under the new rules, EU member states are required to confirm…