International trade
Bank of England Governor Andrew Bailey indicated that interest rates are expected to decrease further due to pressure on economic growth and a softening in the UK labor market. The current rate of 4.25% may be lowered as the bank tackles economic uncertainty fueled by global trade tensions. Bailey&
International trade
As part of Prime Minister Mark Carney's promise to strengthen the country's economy, Canada has eliminated its internal trade barriers by July 1. However, economists caution that this move may not have a substantial impact on the country's economy due to the significant role
International trade
The UK's Permanent Ambassador to the WTO and UN, Simon Manley, delivered a statement at Norway's World Trade Organization Trade Policy Review, highlighting the country's economic resilience and commitment to open trade. The review highlighted Norway's high GDP per capita, transformation into
International trade
A joint statement by the heads of the International Chamber of Commerce (ICC) and the World Trade Organization (WTO), John W.H. Denton AO and Ngozi Okonjo-Iweala, respectively, underscores the critical role of a well-functioning multilateral trading system in driving global development. The statement highlights the need to address regulatory
International trade
The British Chamber of Commerce Philippines (BCCP) presented a optimistic outlook for the Philippine economy and Philippine-UK trade relations at the Philippine-British Investment Forum on June 27, 2025. The event aims to take advantage of the growing British business community across Philippine Economic Zone Authority (PEZA) ecozones. Key officials and
International trade
As the deadline for the implementation of a 31% tariff on South African exports to the US market looms, South Africa has formally requested an extension from the US authorities. The move is a desperate attempt by Pretoria to secure more time to finalize a trade agreement that would protect
International trade
The National Tariff Commission (NTC) has taken a significant step to safeguard Pakistan's domestic steel industry by imposing a 40.47% anti-dumping duty on Galvalume steel imports. This move comes after the commission's first-ever anti-circumvention investigation found that Galvalume steel was being used to bypass existing
International trade
The Indian Ocean plays a critical role in global trade, accounting for 80% of the world's maritime trade, with China expanding its strategic influence through the Gwadar and Hambantota ports as part of its 'String of Pearls' initiative. The US counters this by leveraging its bases
International trade
Governor of the Bank of England, Andrew Bailey, warned that interest rates could decrease further in the coming months as the UK labour market shows signs of weakness and the economy faces increased economic uncertainty due to global trade tensions. The comments come as the Bank of England holds interest
International trade
As global trade becomes increasingly disrupted by geopolitical conflicts and pandemics, companies are seeking more reliable and strategic supply chain arrangements. Friendshoring, where companies establish supply chain networks with countries considered political and economic allies, is becoming a crucial strategy for the Gulf Cooperation Council (GCC) nations, including Bahrain, Kuwait,
International trade
China's commerce ministry announced on Monday that it will maintain duties on certain steel products from the EU, the UK, South Korea, and Indonesia. The duties, first levied in 2019, range from 20.2% for Indonesian imports to 43% for those from the EU. The decision was made
International trade
Pakistan's ambassador to China, Khalil Hashmi, visited the Khorgos Free Trade Zone in northwestern Xinjiang, where he toured the busiest dry port and border gate in China, and met with local leaders to discuss potential collaboration. The zone offers a unique advantage as a triad of China'
