Author: News Desk

India revealed plans to eliminate import duty on various components essential for manufacturing electric vehicle (EV) batteries and mobile phones on Tuesday. Ahead of the parliamentary vote on the Finance Bill 2025, Finance Minister Nirmala Sitharaman declared a policy to boost domestic production and elevate export competitiveness by lowering raw material duties. “We aim to boost domestic production and enhance export competitiveness by reducing duties on raw materials,” Nirmala Sitharaman said. The new policy exempts import duties on 35 essential components for EV battery production and 28 key raw materials for mobile phone manufacturing. The declaration comes after the U.S.…

The U.S. has added numerous Chinese entities to its export blacklist, marking the Trump administration’s first major move to hinder China’s progress in developing advanced AI chips, hypersonic weapons, and military technologies. On Tuesday, the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) placed 80 organizations, including over 50 from China, on its ‘entity list,’ restricting American companies from supplying them without government approval. The listed entities include six Chinese subsidiaries of Inspur, a prominent cloud computing and big data service provider that collaborates with U.S. chipmaker Intel, with one subsidiary located in Taiwan. The agency reported the…

North Korea is reportedly gearing up to export drones after ramping up the mass production of unmanned aerial vehicles, reports Daily NK The Munitions Industry Department of the Workers’ Party (North Korea) began conducting inspections for drone exports on March 7. The inspections evaluate the performance and quality of drones manufactured since January, with approved models slated for immediate export. North Korea’s drone production facilities, including defense plants affiliated with the Air Force Technology Complex in North Pyongan Province, are manufacturing reconnaissance, attack, and suicide drones. North Korea views drones as cost-effective to develop compared to other weapon systems while…

A U.S. trade mission will visit Morocco in May to explore collaborative business and investment opportunities in the agri-food export industry. Morocco’s ambassador to the United States, Youssef Amrani, shared the update on his X. The Western U.S. Agricultural Trade Association (WUSATA), along with the 15 Western Region Departments of Agriculture, confirmed participation in the trade mission, providing U.S. exporters with the chance to access the Moroccan market and expand export opportunities. WUSATA emphasized the trade mission presents a valuable opportunity for companies aiming to grow exports to North Africa, especially in crucial industries. Morocco has recently welcomed multiple trade…

Malaysia is preparing to strengthen semiconductor regulations to curb the unauthorized transfer of chips essential for advancing artificial intelligence to China following mounting pressure from the US. Malaysia, a rising hub for chip production and data centers, is under scrutiny for potentially channeling Nvidia processors to third countries like China, breaching U.S. export regulations. In response to U.S. pressure, the Malaysian government has declared plans to tighten regulations on Nvidia chip exports. Malaysia trade minister Zafrul Aziz told the Financial Times the U.S. is urging the country to monitor the flow of high-end Nvidia chips, citing concerns over the redirection…

The United States plans to receive egg imports from Türkiye and South Korea, stated Agriculture Secretary Brooke Rollins on Friday. The decision comes in response to a severe shortage caused by an avian influenza outbreak, which disrupted the supply chain. Egg prices in the U.S. have soared as bird flu outbreaks forced farmers to cull 30 million birds, tightening supply. Although President Trump pledged to lower prices during his campaign, egg costs have surged by over 65% in the past year and are expected to climb another 41% in 2025. In February, the U.S. Department of Agriculture declared a $1…

Chinese shipyards are constructing several large car transport vessels to strengthen the country’s grip on global shipping and support electric vehicle manufacturers in expanding their reach to international markets. The latest ship, with a capacity to transport 8,600 cars, was reportedly built and completed within 200 days by Shanghai Waigaoqiao Shipbuilding Company, as reported by the South China Morning Post. The nearly 200-meter-long roll-on/roll-off (ro-ro) vessel will be managed by a subsidiary of COSCO, a state-owned conglomerate. The ship’s first voyage will carry Chinese cars from Shanghai to Europe. The initiative is part of China’s broader plan to develop its…

Nigeria’s Federal Ministry of Steel Development has outlined plans to increase the country’s steel production capacity to 10 million metric tons annually. Nigeria’s Minister of Steel Development, Prince Shuaibu Abubakar Audu, declared plans to produce 10 million metric tons of steel annually within five years to reduce reliance on imports. The move aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda to strengthen local industries and save foreign exchange. During his visit to the National Steel Raw Materials Exploration Agency (NSRMEA) and the Defence Industries Corporation of Nigeria (DICON) in Kaduna, Minister Audu stressed the importance of import substitution. He…

A deal for the Canadian green hydrogen exports to Germany is awaiting Ottawa’s final decision on funding and a ruling from European regulators regarding the project’s competitive viability, as reported by the Canadian Press. In August 2022, Canada and Germany formalized the hydrogen agreement with former Prime Minister Justin Trudeau, and outgoing German Chancellor Olaf Scholz visited Newfoundland’s west coast to conclude the deal. In July, Canada and Germany allocated $600 million to the project. The funding is intended to support Canadian companies entering German markets and ensure Germany receives affordable, clean energy products from Canada. Stephane Lessard, the acting…

The European Union has delayed implementing a 50% tariff on U.S. whiskey until mid-April. The move aligns with other countermeasures the EU has opted for in response to the Trump administration’s extensive tariffs on steel and aluminum imports. European Trade Commissioner Maros Sefcovic revealed the postponement, citing that the EU is considering synchronizing the timing of two sets of countermeasures, which would allow further consultations with member states and provide additional time for discussions with U.S. counterparts. The EU initially intended to reinstate 2018 tariffs on $4.9 billion (€4.5 billion) of U.S. goods, with a second phase targeting $18 billion…