Belgium bans import of certain Russian petroleum products from third countries
Belgium’s Federal Public Service Finance (FPS) announced, on 19 January 2026, that it will ban the import of certain petroleum products made in third countries from Russian-origin crude oil, effective 21 January 2026. The measure is part of the
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WTO: Updated Global Trade Outlook
The October 2025 update of the Global Trade Outlook and Statistics noted that the WTO forecast for world merchandise trade volume growth in 2025 has risen to 2.4% (which is higher than the estimate of 0.9% in the interim outlook in August) 2025.
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World Bank: Impact of non-tariff measures on global trade
A World Bank research paper with the title It’s Not (Just) the Tariffs: Rethinking Non-Tariff Measures in a Fragmented Global Economy, by D. Taglioni and H. Kee, was published on 22 October 2025. The research paper looks at the impact of
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EU Commission sets import limits on ferro-alloys to protect market
The EU Commission announced on 18 November 2025 that it has imposed three-year import quotas on steel alloys containing manganese and silicon to protect domestic producers from a surge of low-cost imports. This decision brings to a close an
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US hopes to finalise rare earths agreement with China by Thanksgiving
US Treasury Secretary Scott Bessent expressed optimism on 16 November 2025 that a trade deal on rare earths between the US and China could be finalised by Thanksgiving. Bessent’s remarks came after a framework agreement reached last month,
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China allows civilian use of Nexperia chips despite export restrictions
China announced exemptions to its export controls on Nexperia chips for civilian applications on 9 November 2025, aiming to ease the global auto industry's supply chain issues. Nexperia, a Netherlands-based chipmaker owned by China's Wingtech,
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India plans to slash GST rates
India to cut consumption tax by October, introducing a two-tier GST system of 5% and 18%, affecting most items in the current 12% slab. India’s government will reduce consumption tax by October, introducing a two-tier GST system of 5% and 18%,
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South Africa: SARS extends special licences for importing, storing jet fuel to prevent potential shortages
SARS has extended special licenses for jet fuel and kerosene imports and storage until 31 October 2026. South Africa’s Fuels Industry Association (FIASA) announced on 8 August 2025 that the South African Revenue Service (SARS) has extended
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China imposes medical device import restrictions in response to EU ban
China has announced restrictions on government purchases of EU medical devices worth over CNY 45 million. China's finance ministry has announced restrictions on government purchases of EU medical devices worth over CNY 45 million (USD 6.3
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India to impose safeguard duty on steel to curb imports from China, South Korea, Japan
India plans to introduce a temporary 12% safeguard duty on certain steel imports to address a rise in low-cost shipments; mainly from China, South Korea, and Japan; according to a government source. The measure, recommended by the Directorate
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EU pauses counter trade measures against US
The European Commission announced on 9 April 2025 that its proposal to implement trade countermeasures against the US had received approval from EU Member States. The Commission's proposal was made in response to the US decision in March to
See MoreWTO Working Paper: Evolution of Preferential Trade Under Regional Trade Agreements
A WTO working paper of 7 February 2025, written by Rohini Acharya and Thakur Parajuli has the title The Evolution of Preferential Trade Under Regional Trade Agreements: Has Anything Changed? The paper looks at the question of whether the share of
See MoreWTO Working Paper: Impact of Digitalization on Trade Patterns
A WTO working paper published on 21 January 2025, written by Eddy Bekkers, Hryhorii Kalachyhin and Robert Teh, looked at the long-term effect of digitalisation on global patterns of trade. The advances in information and telecommunication
See MoreWTO Working Paper: Continuing Significance of MFN Trading Terms
A WTO working paper of 15 January 2025, written by Tomasz Gonciarz and Thomas Verbeet, has the title Significance of most-favoured-nation terms in global trade: A comprehensive analysis. Under the WTO's MFN trading principle, member countries of
See MoreWorld Bank: Global Economic Prospects
The World Bank report Global Economic Prospects was issued in January 2025. The report notes that global growth is projected to remain steady at 2.7% in 2025/26, but this relatively low growth rate will not be sufficient to promote sustained
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IMF: Briefing on the World Economic Outlook
In the briefing on the latest World Economic Outlook on 17 January 2024, the Director of the IMF’s Research Department confirmed that global growth is projected to remain steady at 3.3% in 2025 and 2026. Globally, inflation is expected to decline
See MoreIMF Updates World Economic Outlook
On 17 January 2025 the IMF published the update to the World Economic Outlook, with the subtitle Global Growth: Divergent and Uncertain. The update notes that global growth is expected to remain stable at 3.3% in both 2025 and 2026, below the
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IMF: Speech by the IMF Managing Director at the 2024 Annual Meetings Plenary
On 25 October 2024 the IMF Managing Director, Kristalina Georgieva, spoke at the 2024 Annual Meetings Plenary. The Managing Director noted that inflation has been falling, from 5.7% in the fourth quarter of 2023, to a projected 5.3% in the
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