Author: Editorial Desk

The prospect of a major trade conflict between Canada and the United States looms large as Canadian Foreign Minister Mélanie Joly warned that the US president-elect’s proposed tariffs could escalate into the most significant trade war in decades. US President-elect Donald Trump has proposed a 25% tariff on Canadian imports, raising concerns over severe economic and political repercussions. Speaking at a press conference in Washington on Friday, Joly described the potential scenario as a ‘trade war’ triggered by US actions and confirmed Canada’s readiness to respond. “We are ready to put maximum pressure,” Joly asserted, emphasizing that this could be…

Governor Brian P. Kemp has announced plans to lead an international mission to Europe, focusing on strengthening Georgia’s economic and cultural partnerships with Germany and Poland. The visit aims to deepen ties with existing partners while exploring new opportunities to boost investment and job creation in the country. “Over the last six years, international companies have invested over $38 billion in Georgia, creating more than 58,000 jobs statewide, with over 80% of those jobs in communities outside metro Atlanta,” said Governor Kemp. “Germany has been a key partner in our success, contributing significantly to job creation and investment. This mission…

Indian companies in the electronics, solar, and electric vehicle (EV) sectors are grappling with delays and disruptions due to China’s newly imposed export curbs on key inputs and machinery, according to the Global Trade Research Initiative (GTRI). The GTRI described the restrictions as a potential response to India’s tighter controls on Chinese investments and visa policies, reflecting broader geopolitical tensions and a trade war between the two nations. “These India-specific restrictions signal deeper geopolitical issues. We hope they are lifted soon, as they also harm China,” said Ajay Srivastava, founder of GTRI. Srivastava noted that while the curbs are impacting…

The Dangote Refinery’s fuel production is reshaping global fuel markets, with major effects on Europe’s petrol imports, according to the Organisation of the Petroleum Exporting Countries (OPEC). The refinery’s increased output has reduced Nigeria’s dependence on fuel imports, creating noticeable shifts in the international gasoline trade. Since commencing operations in September 2024, the 650,000-barrel-per-day refinery has started producing Premium Motor Spirit (PMS), contributing to a rebalancing of global supply chains. Traditionally, Nigeria relied heavily on European gasoline imports, but the Dangote Refinery’s growing production is freeing up gasoline volumes, disrupting the flow of petroleum products into Europe. OPEC’s report underscores…

The United Nations Security Council has approved a resolution co-authored by Greece and the United States, focusing on strengthening maritime security in the Red Sea. Passed with 12 votes in favor and abstentions from China, Russia, and Algeria, the resolution highlights the urgency of addressing rising Houthi threats in the region. The resolution opposes ongoing Houthi attacks on merchant vessels and oil terminals, which have significantly impacted Yemen’s economy and aggravated the country’s humanitarian crisis. It emphasizes the Red Sea’s strategic importance to global supply chains and calls for an immediate halt to Houthi aggression to safeguard this critical maritime…

India, Russia, and Indonesia have reached an agreement on the pricing for a $450 million deal to supply BrahMos cruise missiles to the Indonesian armed forces, according to sources familiar with the matter. This development comes ahead of Indonesian Defence Minister Prabowo Subianto’s visit to New Delhi, where he will attend the Republic Day celebrations as the chief guest on January 26. The BrahMos missile, a joint venture between India and Russia, has been under negotiation between New Delhi and Jakarta for over seven years. Russia’s Rosoboronexport, the state agency overseeing arms exports, has played a key role in the…

India and Oman have entered the fifth round of negotiations for a Comprehensive Economic Partnership Agreement (CEPA), reflecting the deepening economic ties between the two nations. The two-day dialogue follows the official commencement of CEPA talks in November 2023, highlighting the mutual commitment to strengthening economic collaboration. Oman holds strategic importance as India’s third-largest export destination within the Gulf Cooperation Council (GCC) region. The Global Trade Research Institute (GTRI) projects that the proposed CEPA could deliver substantial benefits to Indian exporters, particularly in sectors such as gasoline, iron and steel, electronics, and machinery, with potential gains estimated at $3.7 billion.…

China’s chip imports saw a sharp rise in 2024 as businesses moved swiftly to stockpile advanced semiconductors ahead of new US export controls. The measures, announced on Monday by the outgoing Biden administration, aim to curb China’s access to high-tech semiconductors critical for applications such as AI data centers. According to the General Administration of Customs, China imported 549.2 billion integrated circuits (ICs) last year, marking a 14.6% increase compared to 2023. The total value of these imports reached $385 billion (£315 billion), representing a 10.4% year-on-year growth. This figure surpassed China’s annual crude oil imports, valued at $325 billion…

The global organic meat market, valued at USD 26.59 billion in 2023, is projected to grow significantly, reaching USD 51.04 billion by 2032, with a compound annual growth rate (CAGR) of 7.5% during the forecast period. This surge is driven by increased consumer awareness about health, sustainability, and ethical farming practices. Healthier, Sustainable Choice The demand for organic beef, in particular, has experienced remarkable growth in recent years. As consumers become more health-conscious, they are increasingly opting for foods that are produced sustainably and without harmful chemicals. Organic beef, sourced from cattle raised in natural environments and without the use…

The Saudi Zakat, Tax and Customs Authority (ZATCA) has unveiled advancements to the ‘Saudi Authorized Economic Operator Program,’ developed in collaboration with 14 government agencies. This initiative aims to boost Saudi Arabia’s logistics sector and enhance the efficiency and competitiveness of its trade ecosystem. The program categorizes its benefits into three tiers for importers and exporters, with a fourth category dedicated to logistics service providers, including customs brokers, shipping agents, and related entities. Participants gain access to administrative, procedural, and financial advantages designed to streamline trade operations and strengthen global market accessibility. Key objectives of the program include simplifying and…