On April 28, the US Treasury's OFAC prohibited US individuals/entities from paying Iran's Strait of Hormuz security toll, noting non-US parties face sanction risks; it also added 17 foreigners and 18 foreign entities to Iran-related sanctions lists.

Iran suspended exports of some steel products (billets, plates) until May 30 (may extend) after US-Israel attacks on two steel plants (Isfahan, Khuzestan). It also banned some chemical/petrochemical/polymer exports due to war.

Turkiye's Finance Minister Simshek announced on April 27 that the government has designated 2026 as the reform year, planning structural reforms to promote goods/services exports, attract capital repatriation, and develop the Istanbul Financial Center, including tax incentives for trade and high-value services.

Canadian PM Carney states Canada-US USMCA update negotiations may take long; Canada insists on reciprocity, rejects US unilateral conditions/extra concessions. US insists on separate agreement-tariff handling, Canada advocates overall promotion. US has multiple demands, Canada sets red lines (no dairy supply management cancellation, etc.). US won't return to zero tariffs.

The Trump administration's "equivalent tariffs" aimed to revive US manufacturing, but investment commitments are inflated (old wine in new bottles, exaggerated, long cycles). US manufacturing faces declining employment, shrinking output, and constraints from infrastructure, policy uncertainty, etc., making revival distant.

Canadian PM Carney’s April 19th video speech evaluates Canada-US relations: previous US ties advantages are now disadvantages due to US tariffs (Great Depression-era levels on auto, steel, timber). He calls for trade diversification (20 new agreements) and measures to reduce single-market dependence, as US tariffs since Trump’s 2025 term disrupted supply chains.

On April 14, the IMF released its latest World Economic Outlook report, lowering the 2026 global economic growth forecast to 3.1% (down 0.2pp) mainly due to the Middle East conflict (partially offset by strong data and tariff cuts). It also noted rising inflation, downward revisions for regions like the US, Eurozone and emerging markets, and suggested prioritizing price stability and global cooperation.

The WTO's 2026 Global Trade Outlook report shows 2026 global goods (1.9%) and services (4.8%) trade growth lower than 2025 due to geopolitical tensions, high oil prices, and policy uncertainty. AI-related product trade remains active, driving growth, while MFN treatment proportion declines.

Since the US Supreme Court ruled federal tariffs illegal, the US government imposed new tariffs (15% global, "Liberation Day" 2025) harming consumers, businesses, and manufacturing. 64% Americans are dissatisfied; 98k manufacturing jobs lost in a year. Policies failed to meet goals, causing chaos and global opposition.

On April 2, Trump signed Section 232 documents: imposing tariffs on some imported patented drugs/pharmaceutical ingredients (100% for some, 15% for certain regions, UK lower; no generics tariffs temporarily) and adjusting steel/aluminum/copper derivatives tariffs starting April 6. Measures aim to strengthen US domestic industries and safeguard national/economic security, with exemptions for qualifying pharma companies.

On April 2, the White House announced US President Trump signed a document imposing 100% tariffs on imported patented drugs and pharmaceutical ingredients under Section 232 of the 1962 Trade Expansion Act, with exemption pathways to force pharmaceutical companies to agree on drug prices and industry return.

US Commerce Department released data on April 2 showing US trade deficit in goods and services was $57.3B in February, up 4.9% MoM due to import growth exceeding export growth; exports $314.8B (up 4.2%), imports $372.1B (up 4.3%); commodity exports rose $11.5B driven by non-monetary gold and natural gas.

In March, India revised FDI rules to relax Chinese investment restrictions in electronics and solar cells (10%+ share via automatic approval), its first systematic relaxation since 2020. Aimed at easing capital shortages and supply chain gaps amid economic slowdown and geopolitical pressure, it reflects India’s balanced strategy, though policy risks remain for Chinese investors.

The OECD released its latest economic outlook, noting the US-Israel-Iran conflict tests global economic resilience. It predicts energy prices may fall mid-2026 if chaos eases, with 2026 global GDP growth at 2.9% and 2027 at 3.0% (slight 0.1pp drop). It also forecasts major economies' growth, prolonged inflation from energy hikes, and impacts if prices soar further. The outlook is uncertain with risks (Hormuz disruption) and upsides (tech investment). Governments are called to improve energy efficiency and address debt sustainability.

Business Society reported on April 1st that around 23:00 local time March 31st, US and Israel launched another attack on Mubalakai steel plant in Isfahan, Iran, which is the second such attack.

The European Parliament passed the EU-US trade agreement, which will lift tariffs on most US industrial products and include sunset/sunrise clauses to address US policy uncertainty. The deal is a risk management choice, but fundamental differences remain, with future transatlantic trade relations facing repeated games.

The article covers the Japanese yen's sharp depreciation (crossing 160 yen/USD), its drivers (lack of economic growth momentum, Fed rate hikes, oil prices), impacts (input inflation, lagging real wages, fiscal deficit), policy coordination issues, US tough stance, and Japan's structural economic contradictions.

Under Middle East conflicts and domestic economic pressure, India adjusts its China economic policy, relaxing equipment procurement and investment restrictions. Driven by supply chain dependence, widening trade deficit and high economic costs of 2020 restrictions, the shift gains positive business responses.

On March 24, the EU and Australia reached a comprehensive FTA, which may increase EU exports to Australia by 33% in a decade, access Australian raw materials (lithium, etc.), and counter US tariffs. The EU has accelerated signing multiple trade deals recently to stabilize supply chains and expand its global trade position.

Recently, Malaysia implemented a comprehensive absolute ban on electronic waste imports under the 2023 Customs Act, replacing the previous conditional prohibition. Facing severe illegal e-waste inflow (e.g., 131k+ tons from the US 2023-2025), it strengthens supervision via cross-departmental collaboration, full-chain control, and cracking down on illegal plants, with NGO support to protect environment and public health.