Author: Editorial Desk

Ontario Premier Doug Ford has suggested leveraging the province’s powerful liquor control board to counter potential tariffs from the United States, marking an escalation in Canada-US trade tensions. Doug Ford, leader of Canada’s most populous province, said earlier this week that Ontario could halt electricity exports to US states such as Michigan, New York, and Minnesota if tariffs promised by former US President Donald Trump materialise. Ford is now also exploring the possibility of instructing the Liquor Control Board of Ontario (LCBO) – the largest alcohol purchaser globally, with annual revenues exceeding C$7 billion – to stop buying American-made liquor…

China’s burgeoning pet ownership, coupled with a preference for U.S.-made pet food, presents significant opportunities for American pet food manufacturers to expand in the global market, according to the U.S. Department of Agriculture (USDA) Foreign Agricultural Service (FAS) report, ‘China: Pet Food Market Update 2024.’ China’s pet consumer market reached $41.9 billion in 2024, a 7.5% increase from 2023. Pet food remains the largest segment, comprising 52.8% of all pet-related consumption. The U.S. holds a dominant position as the leading supplier, accounting for over 69% of China’s imported pet food market. Despite opportunities, manufacturers must navigate evolving consumer trends to…

The Chinese government reaffirmed its commitment to promoting legitimate international trade in the civil drone sector while opposing the misuse of such technology for non-peaceful purposes, the Ministry of Commerce announced on Thursday. He Yadong, a spokesman for the ministry, emphasized during a weekly briefing that China remains resolute in fulfilling international non-proliferation obligations. This approach, he stated, enhances the safety and stability of global production and supply chains. “The government strictly controls the export of all dual-use items, including drones, in accordance with laws and regulations,” He said. Dual-use items refer to goods, technologies, and services applicable for both…

Global food insecurity has risen sharply in recent years, eroding decades of progress in combating hunger. According to a new UN Trade and Development (UNCTAD) report released on December 12, over 280 million people face acute food insecurity, a situation that endangers lives. Additionally, 713 million people grapple with chronic food insecurity, a number that has grown by 150 million since 2019. Without immediate global action, 582 million people could experience chronic hunger by 2030. Root Causes of Food Insecurity The primary drivers of acute food insecurity include socioeconomic shocks, poverty, inequality, armed conflict, and the escalating effects of climate…

Malaysia’s Plantation and Commodities Ministry has described India’s recent increase in palm oil import duties as a ‘temporary challenge’ to the resilience and competitiveness of Malaysian exports. The ministry expressed confidence that the impact would be short-lived and highlighted its strategic measures to address the situation. The import duty hike, effective immediately, raises crude palm oil (CPO) tariffs from 5.5% to 27.5% and processed palm oil tariffs from 13.75% to 35.75%. The increase includes basic import duties and additional taxes, such as the agriculture infrastructure development cess and social welfare cess. The move is part of India’s strategy to stabilise…

Algeria is positioning itself as a major force in trade insurance across Africa and the Arab-Muslim world, reflecting its commitment to fostering fair and dynamic international trade. The announcement came from Algeria’s Finance Minister, Laaziz Faid, during the 14th Annual General Assembly of the AMAN Union, held in Algiers from December 1 to 3. Minister Faid highlighted the pivotal role of risk management in international commerce, stating that it creates a climate of confidence and serenity in favour of economic operators while converting trade opportunities into productive activities. This, he asserted, strengthens regional trade and promotes economic growth. Algeria’s ambitions…

Bangladesh’s reliance on India for essential commodities like potatoes and onions has long been a source of concern, with recent food price hikes exposing the vulnerabilities of this dependency. Factors such as poor harvests, export restrictions, and increased domestic demand in India have disrupted supplies, leaving Bangladesh grappling with inflation and scarcity. India’s competitive pricing and swift delivery have made it Bangladesh’s primary trading partner for these staples. However, India’s frequent export restrictions, including minimum export prices (MEP) and outright bans, often destabilise the Bangladeshi market. Recent disruptions, including a September 2023 onion export ban, caused prices in Bangladesh to…

Brazil’s poultry meat exports in November reached 465,100 metric tons (mt), generating over $893 million in revenue, according to the Brazilian Association of Animal Protein (ABPA). These poultry export figures reflect substantial year-on-year growth of 23.2% in volume and 32.1% in revenue compared to November 2023, when exports totaled 377,400mt, earning $676 million. ABPA President Ricardo Santin attributed the significant improvement partly to weaker performance during the same month last year. However, he emphasised that exports to eight of Brazil’s top 10 chicken meat destinations saw hikes compared to November 2023. China retained its position as Brazil’s largest market…

Copper prices are set to face mounting pressures in 2025 due to escalating US trade tariffs and economic uncertainties in China, key factors driving down market expectations. Citigroup projects copper prices will average $8,750 per ton in 2025, a sharp decline from its earlier forecast of $10,250 per ton. Analysts attribute this to a restrictive monetary environment in developed economies and reduced policy support for electric vehicles, which are delaying a recovery in global manufacturing activity until beyond 2025. On the London Metal Exchange, copper prices recently stood at $9,100.50 per ton in Shanghai, marking a significant 20% decrease from…

The United Nations General Assembly has adopted a resolution calling for enhanced global efforts to combat the illegal trade in cultural artefacts. Highlighting the significance of cultural heritage as a symbol of human identity and history, the Assembly urged member states to develop robust legal frameworks to protect such property and support international cooperation to address this persistent issue. The resolution expressed grave concern over the illegal removal of cultural artefacts, monuments, and manuscripts, particularly those taken before the 1970 UNESCO Convention on the Means of Prohibiting and Preventing the Illicit Import, Export, and Transfer of Ownership of Cultural Property.…