In a major breakthrough, the US and China have agreed to drastically slash tariffs on each other’s products for an initial period of three months, CNN reported on Monday. Officials from the two countries announced their agreement on 90 percent tariff cuts following lengthy but fruitful negotiations in Geneva. In April, US President Donald Trump More
Pakistan allowed 150 stranded Afghan cargo trucks to deliver goods to India through Wagah Border. The development comes about a week after Islamabad suspended trade with New Delhi on April 24, including through third countries via Pakistan. Dawn newspaper reported, citing a statement issued by the Foreign Ministry in Islamabad, said the ministry acknowledged a More
China has announced a 34 percent tax on all US imports with effect next week, in retaliation for President Donald Trump’s tariff orders. The tariffs, scheduled to take effect on Thursday, mirrored the 34 percent rate that Trump imposed this week on Chinese goods entering the United States, the Associated Press reported. Earlier, in February More
French President Emmanuel Macron has urged European businesses to pause investment in the US “until things are clarified with the United States”. The EU is facing 20 percent tariffs on exports to the US following President Donald Trump’s announcement of widespread global tariffs on Wednesday. “Investments to come or investments announced in recent weeks should More
US President Donald Trump has announced new tariffs ranging from 10 to 50 percent on imports from other countries, including on the European Union. The BBC quoted Trump as saying that a 25 percent tariff would be imposed on all cars imported into the US, with a minimum levy of 10 percent applied to all More
The Afghan Transit Trade (ATT) has witnessed a sharp decline of 66 percent in the first eight months of the current fiscal year compared to the same period in FY2023-24. This downturn is largely attributed to Pakistan’s anti-smuggling measures and import restrictions, The Nationreported. Between July and February of FY2024-25, Afghan Transit Trade fell by $1.489 More
China, Japan, and South Korea have reportedly agreed to coordinate their response to US tariffs, Reuters reported. According to Yuyuan Tantian, a Weibo account linked to China Central Television, Japan and South Korea are looking to import semiconductor raw materials from China, while China is interested in purchasing chip products from Japan and South Korea. More
In the hope of sealing a deal for TikTok’s sale, US President Donald Trump has suggested a cut in tariffs on China, a media report said on Thursday. Speaking to journalists on Wednesday, the US leader signaled his willingness to extend the April 5 deadline for finding a non-Chinese buyer for short video app. “With More
The Khyber Pakhtunkhwa business community has called for the immediate reopening of the Torkham crossing and resumption of the Pakistan-Afghanistan trade. Sarhad Chamber of Commerce and Industry chief Fazal Moqeem Khan issued the call at a meeting with KP Customs Chief Collector Khawaja Khurram Naeem here on Wednesday. Accompanied by several business leaders, the SCCI More
US President Donald Trump has threatened to escalate the global trade war with additional tariffs on European Union (EU) goods, says a media report. Soon after taking office, Trump imposed a 25 percent tariff on imports from Mexico and Canada, though carmakers and some other goods were exempted. On Wednesday, the EU Commission announced that More
