A US International Trade Court judge ruled on March 4 that US Customs and Border Protection cannot impose tariffs under IEEPA during clearance, requiring refunds for previously levied tariffs. The ruling follows the Supreme Court's February 20 ruling that IEEPA doesn't authorize presidential large-scale tariffs, with potential $175B refunds for importers.

Cambodia's international trade volume hit over $11 billion in Jan-Feb 2026, up 17.6% YoY. Exports ($5.228B, +17.2%) and imports ($5.885B, +18%) grew double-digit. China is its largest partner with $3.577B trade (+34.4% YoY). Textiles are top exports (21% of total).

On March 12, the EU stated it will take a resolute & proportionate response if the US violates the 2025 US-EU trade agreement amid a new US 301 clause trade investigation. The EU also requests US clarification on the investigation's coordination with the 2025 deal.

On local 11th, US USTR launched new 301 investigations on 16 trade partners (including China) over "excess industrial capacity" to replace overturned equivalent tariffs. The move violates trade rules, facing opposition from many countries, and may harm global supply chain.

The US government is devising ways to avoid tariff refunds after the Supreme Court ruled past tariffs illegal. Companies (including FedEx) sue for up to $175B, with DOJ seeking a 90-day execution suspension; consumers also joined class actions.

US Supreme Court ruled the government’s large-scale tariff policy illegal, spurring US companies to sue for refunds. International criticism grows over US tariff policies’ impact on global trade uncertainty. Experts discuss US power struggles over tariffs, while countries accelerate diversification to reduce US dependence.

Canadian PM Carney’s India visit aims to finalize a trade agreement by end 2026, boost bilateral trade to $50B by 2030, and strengthen cooperation in uranium supply, clean energy, key minerals, and security, easing tensions since the 2023 dispute amid global trade uncertainty.

On Feb 25, 2026, the IMF released its 2026 US Article IV consultation statement, advising the US to cooperate with trading partners to address unfair trade concerns, control national security-based trade measures narrowly, and noting tariff harms. It focuses on US 2025 policy shifts and global impacts, with US 2025 tariffs disrupting trade.

The US Supreme Court ruled Trump's tariffs under IEEPA illegal. Trump admin plans new tariffs via Section 232, 301, 122, adding economic uncertainty.

On Feb 21, US President Trump announced raising global import tariffs from 10% to 15% immediately, citing a Supreme Court ruling. The move follows the Court's 20th ruling that the International Emergency Economic Powers Act doesn't authorize large tariffs, sparking global reactions and concerns over market turbulence, increased costs, and policy uncertainty.

US White House announced on the 9th a trade agreement with Bangladesh (providing preferential access for US industrial/agricultural products). US will cut Bangladesh's "equivalent tariff" from 20% to 19% and consider exempting some textiles. Bangladeshi sides note limited impact on export competitiveness, concerned the symbolic cut won't change their industries' US market disadvantage. Trump admin imposed 37% tariff on Bangladesh in April 2025, reduced to 20% last August.

The European Commission proposed the Digital Networks Act to unify EU network rules, promote fiber deployment (phase out copper cables), reduce operator costs, and compete in global digital governance, with debates on potential protectionism risks.

The number of US farmers' bankruptcies has doubled, with agricultural economy deteriorating. Trump's tariff policies raise input costs, cut market share (soybeans halved). Two joint letters urge Congress to exempt agricultural inputs from tariffs and aid farmers, as economists predict $44b net loss in 2025-2026.

The European Central Bank (ECB) urges the EU to accelerate digital euro progress, warning of over-reliance on non-EU (especially US) payment firms. The digital euro (not replacing cash) aims to boost payment autonomy; plans include 2026 legal framework, 2027 pilot, 2029 launch.

After year-long negotiations, India and the U.S. reached a temporary trade agreement framework. A formal deal is planned for March, with key factors being India’s Russian oil purchases and agricultural interests. India faces domestic opposition; the U.S. reduced tariffs on some Indian goods, while India cut tariffs on U.S. industrial/agricultural products.

From Feb 7-9, 2026, the first meeting of 2026 APEC Business Advisory Council (APEC China Year's first business event) was held in Jakarta. Representatives exchanged on 4 key areas, proposed constructive suggestions, and China's connectivity working group was widely supported. Over 200 from 21 APEC economies attended.

China will host the 2026 APEC, including the 33rd Leaders' Informal Meeting in Shenzhen in November. The theme is "Building an Asia Pacific Community and Promoting Common Prosperity" with priorities on openness, innovation, cooperation. Preparations are underway to boost regional and global economic cooperation.

Brazil's 2025 trade surplus will hit $68.3B with historic exports ($348.7B) and imports ($280.4B). Though the US lifted 40% tariffs on some goods, 22% of exports to the US still face extra tariffs. Brazil responded with measures (Sovereign Brazil Plan, tax relief, market diversification) targeting emerging markets (India, Turkey) and increasing non-US exports to 72%.

US unilaterally raised tariffs on South Korean goods from 15% to 25% (citing S. Korea's unapproved trade agreement). S. Korea expressed regret, noted unresolved negotiation differences, discussed countermeasures. The 2025 US-S.Korea trade framework faced S. Korean opposition; media/experts criticized US unilateralism.

On February 2, US President Trump stated a US-India trade agreement was reached, with India to stop Russian oil purchases and US lowering tariffs. However, India hasn’t confirmed the oil stop. Analysts say India may not fully halt Russian oil imports due to strategic, economic, feasibility reasons, and the deal eases trade tensions but won’t heal deep US-India rifts.