Author: News Desk

China has retaliated against the United States by increasing tariffs on American goods from 84% to 125%. The action follows President Donald Trump’s decision to implement a 145% tariff on certain Chinese imports, further intensifying tensions between the leading global economies. China criticized the tariffs imposed by Trump, describing the measures as excessively high and asserting that the steps violate international trade rules and economic principles. The country labeled the actions as unilateral acts of bullying and coercion. President Trump’s comprehensive tariff package on China has now reached a total of 145%, comprising a 125% general tariff and an additional…

Vietnam to Crack Down Fraudulent Transshipment of Goods and Strengthen Export Regulations to Maintain Integrity in International Trade Relations Vietnam is set to take strict measures against the fraudulent transshipment of Chinese goods to the United States through its territory. The country plans to strengthen controls on sensitive exports to China, as stated in a government document cited by Reuters. Vietnam Prime Minister Pham Minh Chinh has instructed ministries, local authorities, and diplomatic missions to combat the illegal importation of goods falsely labeled as Vietnamese exports. The proactive measure seeks to safeguard Vietnam’s export integrity and augment trade relations, particularly…

Botswana has ended its restriction on fresh vegetable imports from South Africa due to challenges in meeting local demand with domestic production alone. The ban, introduced in 2022, was reversed in two stages — the first in December of the previous year and the second in April of this year. Dipepeneneng Serage, deputy director-general in South Africa’s agriculture department, confirmed the move on Wednesday, stating that trade between the two nations is now open and has improved. The previous administration, under Mokgweetsi Masisi, had implemented the ban to support local farmers by improving farmers’ access to the domestic market. In…

European Union member states, on Wednesday, approved retaliatory tariffs on $23 billion of U.S. goods, countering U.S. President Donald Trump’s 25% tariffs on steel and aluminum imports. The European Commission, the executive branch of the EU, declared that the collection of tariffs on U.S. imports will begin on April 15 for the first set of measures, with a second wave following on May 15. A draft document reviewed by CNBC revealed that the tariffs would target various goods, including poultry, grains, clothing, and metals. The EU has yet to publish the final list of affected products. The European Commission stated…

India declared on Wednesday that it has revoked the transshipment facility granted to Bangladesh in 2020, attributing the decision to severe congestion at its airports and ports. The Central Board of Indirect Taxes and Customs (CBIC) released a circular confirming the discontinuation of the transshipment facility, which enabled cargo exports from Bangladesh to third countries through Indian Land Customs Stations, reaching Indian ports and airports. The decision comes in the wake of controversial comments by Bangladesh’s interim government leader, Muhammad Yunus, who referred to India’s Northeast as ‘landlocked’ and advocated for Chinese autonomy in the region. The transshipment facility provided…

Pakistan’s Prime Minister Shehbaz Sharif invited Saudi Arabia, China, the European Union, the United States, and other countries to invest in the nation’s vast mineral sectors. Pakistan hosted a summit on Tuesday to promote investment opportunities in its mines and minerals sector to attract international funding for its natural reserves, which are estimated to be worth $6 trillion. The Pakistan Minerals Investment Forum seeks to emphasize the country’s reserves of copper, gold, lithium, and other valuable minerals while promoting opportunities in the underutilized sector. Addressing the delegates, Prime Minister Shehbaz Sharif stated that Pakistan’s mineral reserves value trillions of dollars.…

Afreximbank, the African Export-Import Bank, has allocated $3 billion to fund the procurement of refined products across Africa. The effort is part of a broader plan to strengthen the continent’s refining capabilities and decrease its reliance on imported refined goods, as reported by Reuters. Kanayo Awani, an executive vice president at Afreximbank, declared this on Monday at an energy conference in Cape Town, South Africa. Afreximbank’s $3 billion revolving financing initiative for intra-African oil imports will support the acquisition of products such as premium motor spirit, automotive gas oil, heavy fuel oil, jet fuel, and kerosene. Afreximbank is a crucial…

Türkiye has decided to halt lemon exports temporarily due to concerns about ensuring sufficient domestic supply and addressing rising prices. The decision followed a joint evaluation conducted by the Trade Ministry and the Agriculture and Forestry Ministry. Considering the recent cold weather and frost incidents in specific regions of the country, the Trade Ministry will temporarily cease lemon exports starting April 8, according to a written official statement. The decision on Monday seeks to ensure food supply security amidst concerns over limited availability and fluctuating prices. Officials linked the move to recent frost damage in southern regions, including Adana, Mersin,…

Thai Prime Minister Paetongtarn Shinawatra revealed on Sunday that Thailand plans to boost U.S. imports of energy, aircraft, and agricultural products following the Trump administration’s imposition of a 36% tariff on Thai exports to the U.S. market. In addition, Thailand also intends to promote Thai investment in the U.S. and ease restrictions on American imports to strengthen bilateral trade relations. Shinawatra, speaking to Thai media, stated that the government plans to promote increased Thai investment in the United States while relaxing restrictions on American imports, as reported by Thai PBS. Under the leadership of Finance Minister Pichai Chunhavajira, the Thai…

The United States has barred sea salt imports from a South Korean salt farm over allegations of slave labor, as reported by the Associated Press. It is the first time a trade partner has acted on labor abuses in South Korea’s remote salt farms. U.S. Customs and Border Protection has issued a withhold release order for the Taepyung salt farm. It cited evidence suggesting that the company employs forced labor in Sinan — a region that produces the majority of South Korea’s sea salt. As per the order issued last Wednesday, Customs officials at all U.S. ports of entry are…