International Trade
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U.S. tariffs and chip curbs deepen strain on Asia’s trade axis
China’s October exports fell 1.1% as U.S. tariffs dampened demand. Japan faces its first contraction in six quarters, and Washington has moved to block Nvidia’s AI chip sales to China — three fronts of tightening pressure across Asia’s trade and technology corridors.
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Trump announces US–Uzbekistan trade deal
Trump announces new US–Uzbekistan trade and investment deal. The agreement, unveiled in Washington during a summit with Central Asian leaders, forms part of a wider US effort to deepen influence in the region’s critical industries and expand commercial links across energy, aviation, and technology.
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Trump and Takaichi seal rare-earths pact
Trump met Japan’s new prime minister in Tokyo on Monday. The two leaders signed a critical-minerals deal to reduce reliance on China, as the U.S. president praised Sanae Takaichi’s historic appointment and reaffirmed the nations’ long-standing security alliance.
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India and U.S. near deal to cut tariffs on exports
India and the United States are nearing a major trade deal. The agreement, first reported by Mint, would cut U.S. tariffs on Indian exports from about 50% to between 15% and 16% — the most substantial adjustment to trade terms between the two countries in more than a decade.
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China imports no US soybeans in September for first time in seven years
China imported zero soybeans from the United States in September 2025. The absence of U.S. shipments — the first in seven years — highlights deepening trade frictions and a reordering of global agricultural supply chains.
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Indian textile exporters pivot to Europe as U.S. tariffs bite
Indian textile exporters are shifting markets as tariffs squeeze margins. Exporters hit by new 50 percent U.S. import duties are redirecting orders toward Europe, offering steep discounts to retain American buyers, and eyeing Africa for lower-tariff production — but the transition is fraught with cost, compliance, and competitiveness pressures.
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UK and India vow trade growth, but delivery will test the deal
Starmer meets Modi in India’s capital to push delivery. The UK Prime Minister used his largest-ever trade mission to emphasise implementation, pledging £1.3 billion in new investment and promising faster progress on the UK–India trade deal signed in July. Businesses on both sides welcomed the ambition but warned delivery will define success.
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EU tariffs pose major threat to UK steel
UK steel sector faces unprecedented crisis amid EU tariff hike. The European Union’s decision to double tariffs on steel imports threatens the UK steel industry, which exported 78% of its steel to the EU last year. Industry leaders warn of severe impacts on domestic production.
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Tariffs weigh on U.S. manufacturing in September
U.S. manufacturing edged higher in September but remained in contraction. Activity improved modestly with output rising, yet new orders, exports, and hiring continued to decline. Tariff costs and supply chain pressures weighed heavily on companies, while private payrolls fell sharply, raising further concerns over the health of the sector.
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US Supreme Court to weigh Trump’s sweeping global tariffs
The Supreme Court will decide if Trump overreached on tariffs. The justices will hear the fast-tracked case in November, with up to $1 trillion in duties at stake. The ruling could redefine trade powers and reshape the balance between Congress and the presidency.
