Canada lists steel derivative products subject to 25 percent tariffs
“Effective December 26, 2025, the Government of Canada is imposing 25 per cent tariffs on the full value of the steel derivative products listed below from all countries.”
[Canada Department of Finance]
WTO chair rules out reform deal at next major meeting
“In particular, members accept the need to improve decision-making as the consensus rule whereby all 166 members must agree to pass new trade deals has gridlocked negotiations for years, blocking even those that enjoy near universal support.”
[Reuters]
China launches $113 billion free-trade experiment on Hainan island
“Officials hope that turning the southern province of Hainan into a duty-free zone will spur foreign investment, with goods that achieve at least 30% local value-added able to move on into the world's second-largest economy tariff-free. Foreign firms will also be able to operate in service sectors that are restricted on the mainland.”
[Reuters]
New Zealand concludes FTA with India with aim to double trade
“The agreement will eliminate or reduce tariffs on 95% of New Zealand's exports to India with more than half of the products to be duty free on day one of the pact, while all Indian goods would have duty free-access to New Zealand. New Zealand also agreed to invest $20 billion in the Asian country in the next 15 years.”
[Reuters]
India signs deal with Oman as it tries to counter U.S. tariffs
“This is the second free trade agreement signed by New Delhi in the past six months, the first one being inked with the United Kingdom in May. … The country is in advanced talks with the European Union, New Zealand and Chile, among other countries.”
[Associated Press]
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