Author: Editorial Desk

US President Donald Trump has refrained from confirming whether the US economy is heading toward a recession or experiencing inflation, following recent adjustments in tariff policies targeting some of its key trading partners. When questioned about the possibility of a recession this year, Trump characterized the economic landscape as undergoing a ‘period of transition.’ Meanwhile, Commerce Secretary Howard Lutnick assured that the US economy would not contract, though he acknowledged that the prices of some goods might increase. The remarks come after a turbulent week for US financial markets, with investors reacting to the administration’s shifts in trade policy. The…

NATO countries in Europe more than doubled their arms imports over the past five years, with over 60% of these acquisitions coming from the United States, according to a report released on Monday by the Stockholm International Peace Research Institute (SIPRI). The report’s findings coincide with European Union states’ recent commitment to strengthening the continent’s defence capabilities amid a shift in U.S. foreign policy under President Donald Trump. Surge in European Arms Imports Between 2020 and 2024, European NATO members increased their arms imports by 105% compared to the previous five-year period. This sharp rise reflects “the rearmament taking place…

Negotiations for a Free Trade Agreement (FTA) between India and the European Union (EU) face significant challenges due to the EU’s stringent environmental regulations, digital trade restrictions, and demands for broader market access. As the tenth round of talks begins in Brussels, India is pushing for exemptions to mitigate the impact of EU policies, while European negotiators seek binding commitments in multiple areas. The Global Trade Research Initiative (GTRI) highlighted that the EU’s carbon tax under the Carbon Border Adjustment Mechanism (CBAM) could impose tariffs of 20-35% on Indian exports of steel, aluminum, and cement, even if an FTA is…

The Trade Remedies Authority of Vietnam has advised wood enterprises against using imported peeled veneer from China in the production of plywood cores, aiming to prevent misrepresentation of Vietnamese origin in plywood exports to the United States. The authority also urged businesses to remain vigilant in monitoring and inspecting trade activities to mitigate risks of illegal transshipment. Vietnamese exporters face potential anti-dumping or countervailing duty investigations from the US, following scrutiny over the origin of plywood materials. In June 2020, the US Department of Commerce (DOC) initiated a probe into trade remedy evasion concerning all plywood products imported from Vietnam.…

Pakistan and Denmark have reaffirmed their commitment to deepening bilateral relations, with a focus on trade and investment. In a phone call on Saturday, Deputy Prime Minister and Foreign Minister Senator Ishaq Dar and Denmark’s Foreign Minister Lars Løkke Rasmussen explored avenues for enhancing economic collaboration and strengthening their long-standing ties. Both leaders emphasised the need to accelerate trade and investment through public-private partnerships. As non-permanent members of the UN Security Council for 2025 and 2026, they also pledged to cooperate on multilateral platforms to advance shared interests, peace, and sustainable development. Pakistan-Italy Relations on a Positive Trajectory Meanwhile, Pakistan…

The Nigeria Customs Service (NCS) has defended its proposed implementation of the International Cargo Tracking Note (ICTN), stating that the system will enhance trade security and improve the ease of doing business at Nigerian ports. O.C. Orbih, the Zone ‘A’ coordinator representing Comptroller-General of Customs Bashir Adeniyi, addressed journalists on Thursday, explaining that the ICTN provides advance cargo information, allowing for better threat assessment and targeted inspections. The statement comes amid opposition from stakeholders who have raised legal and cost concerns regarding the system. In a formal petition to President Bola Tinubu and the National Assembly, Lucky Amiwero, President of…

The National Board of Revenue (NBR) is preparing to amend baggage regulations as gold smuggling continues to rise, facilitated by organised syndicates exploiting loopholes in existing policies. Weak monitoring and lax enforcement at airports have enabled a steady influx of smuggled gold, undermining legal trade and financial stability, experts have warned. Currently, inbound passengers can bring up to 100 grams of gold in bars or ornaments tax-free. However, smugglers circumvent this provision by deploying multiple carriers or ‘mules,’ who transport small quantities to evade detection. Recent seizures illustrate the growing scale of the issue. In January 2025, customs officials at…

Morocco’s imports from Turkiye reached $225.3 million in January 2025, underscoring a robust trade relationship and reinforcing Morocco’s position as Turkiye’s second-largest market in North Africa, according to data from the Turkish Exporters Council. The recent figures place Morocco ahead of Libya, which imported goods worth $186.5 million, yet behind Egypt, with imports valued at $256.3 million. This underscores Morocco’s growing significance as a key destination for Turkish exports in the region. The surge in Moroccan imports is part of a wider expansion of Turkish commercial activities across Africa. Overall, Turkish exports to the continent grew by 7.1% year-over-year, reaching…

Countries such as Bangladesh, Vietnam, Egypt, and Peru are adapting to evolving trade dynamics and seeking new markets to boost agricultural exports, signaling resilience in the sector despite global challenges. Bangladesh has experienced a significant increase in its ready-made garment (RMG) exports during the first half of the 2024-25 fiscal year. According to data from the Export Promotion Bureau (EPB), RMG exports reached $19.89 billion, reflecting a 13.28% rise compared to the same period last year. The European Union remains the largest market, accounting for nearly 50% of total exports, with Germany emerging as the leading importer within the EU.…

The Trump administration’s proposed 25% tariff on semiconductor imports is expected to have widespread ramifications for the global chip industry. However, industry executives believe India is unlikely to face any major short-term consequences, as the country is not a major chip exporter to the US. Indian companies exporting finished electronic goods remain in a wait-and-watch mode before committing to new investments, industry sources said. Some experts argue that the proposed tariffs could violate the Information Technology Agreement (ITA-1), an international treaty mandating zero duties on semiconductor and IT product trade among signatories, including the US. Former President Donald Trump announced…