Trump to introduce 25% tariffs on steel and aluminum imports
Trump to introduce 25% tariffs on steel and aluminum imports

US President Donald Trump said on Sunday he will introduce new 25% tariffs on all steel and aluminum imports into the US, on top of existing metals duties, in another major escalation of his trade policy overhaul, reports Reuters. Trump, speaking to reporters on Air Force One on his way to the...

NBR set to launch full bond automation to enhance trade efficiency
NBR set to launch full bond automation to enhance trade efficiency

The National Board of Revenue (NBR) is set to fully operationalise its Bond Automation system this month to enhance efficiency, transparency, and accountability in Bangladeshs trade operations. The rollout, initially planned for last month, was delayed due to businesses lack of readiness, according...

Capital machinery imports plunge amid rising economic uncertainty
Capital machinery imports plunge amid rising economic uncertainty

The import of capital machinery in Bangladesh has plummeted, reflecting the deepening economic uncertainty facing the nation. Data from Bangladesh Bank reveals a stark decline in letters of credit (LCs) for machinery imports across all industrial sectors during the first five months (July-November)...

Rice prices will drop soon with no shortage in the market: commerce advisor
Rice prices will drop soon with no shortage in the market: commerce advisor

Commerce Advisor Sk Bashir Uddin reassured the public that there is no shortage of rice in the market. He emphasized that both the countrys rice reserves and local production are more than adequate, particularly with the Aman season in full swing. There is no logical reason for the current high...

Vietnam to end  tax exemption on low-cost imports starting February
Vietnam to end tax exemption on low-cost imports starting February

Vietnam will end its tax exemption on low-value imported goods, starting February 18, in a move that aims to regulate e-commerce and boost local consumption. This change, outlined in Decision 01 by Deputy Prime Minister Ho Duc Phoc, impacts goods valued below VND 1 million (approximately $39.3),...

Direct shipments from Pakistan boost imports by 21%
Direct shipments from Pakistan boost imports by 21%

Direct shipping between Pakistan and Bangladesh commenced on November 11, 2024, with the Panama-flagged ship Yuan Jiang Fa Zhong arriving at Chittagong port with goods for the first time. Previously, goods from Pakistan passed through several ports before reaching Bangladesh. Now, with direct...

Government plans to drill 100 gas wells to alleviate crisis
Government plans to drill 100 gas wells to alleviate crisis

The government of Bangladesh has unveiled an ambitious plan to tackle the ongoing gas shortage and reduce its reliance on costly LNG imports by drilling 100 new and existing gas wells between 2025 and 2028. The move aims to enhance domestic gas production and ensure a steady supply to industries,...