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U.S. reaffirms tariff caps in trade deal with South Korea
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The U.S. trade representative said the United States will honor tariff caps in last year's trade deals, despite new investigations into forced labor.
The United States allowed a national emergency declaration on Hong Kong to expire this week while maintaining restrictions on the city’s preferential treatment. Washington cited insufficient autonomy from mainland China. Hong Kong welcomed the move but faced no change in key policies.
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U.S. Trade Representative Jamieson Greer said Tuesday that results of Section 301 trade investigations into more than 70 countries, including South Korea, China and Japan, will be released over the next few weeks.
Chinese Ambassador to Nigeria, Yu Dunhai, has announced that China is prepared to roll out a zero-tariff policy for Nigerian goods ahead of schedule. This move comes amid celebrations for 55 years of diplomatic ties and the upcoming 2026 China-Africa Year of Cultural Exchanges. Nigerian Foreign Affairs Minister Yusuf Maitama Tuggar welcomed the initiative, emphasizing strengthened bilateral cooperation.
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Colombia's Ministry of Commerce published a draft decree to raise import tariffs on vehicles and motorcycles powered by gasoline or diesel engines, aiming to promote clean technologies and bolster the national industry. The proposal sets 40% for cars and 35% for motorcycles, but guilds like Asopartes and Andemos warn it will raise prices and halt the sector's recovery in 2025.