The United States and China have maintained high tariff levels despite a one-year pause in their trade war announced after a summit between US President Donald Trump and Chinese President Xi Jinping in South Korea last October. The meeting temporarily eased tensions between Washington and Beijing, but most trade barriers built over the past decade remain in place.

According to the Peterson Institute for International Economics, the average US tariff on Chinese imports now stands at 47.5 percent, up from 3.1 percent before Trump’s first term. Meanwhile, China’s average tariff on US goods has risen to 31.9 percent from 8.4 percent in 2018. These figures highlight the persistent volatility in bilateral trade relations.

Analysts say the recent pause has provided short-term relief for both sides, but long-term trade barriers remain a major concern. The high tariffs continue to affect both economies, and global observers remain uncertain about the future direction of US-China economic relations.

The Indian rupee fell to its lowest level in history on Wednesday, trading at 95.80 rupees against the US dollar after dropping by 12 paisa at the start of foreign exchange trading. The decline occurred amid global political instability and uncertainty in the oil market, marking the steepest fall ever recorded for the Indian currency.

According to the report, the rupee had already been weakening before the recent escalation of conflict in West Asia. Market experts believe that the emerging war situation between the United States and Iran has further accelerated the rupee’s depreciation. The fall reflects heightened market anxiety over geopolitical tensions and energy price volatility.

The continued instability in global markets and regional conflicts may keep the rupee under pressure in the near term, though the report does not specify any official response or policy measures from Indian authorities.

U.S. President Donald Trump’s visit to Beijing has been characterized by the White House as primarily business-oriented. While Chinese President Xi Jinping focused on the broader relationship between the two nations, Trump emphasized his personal rapport with Xi. According to related sources, both countries are close to forming a joint trade board that could initially serve as a policy commitment and later evolve into a mechanism for monitoring trade and resolving disputes.

Potential agreements under discussion include China’s commitment to purchase U.S. agricultural products such as beef and soybeans, while China seeks access to buy Nvidia chips and Boeing aircraft. A key U.S. objective is to secure greater market access for American companies in China. To advance these goals, Trump brought influential business figures including Elon Musk of Tesla and Tim Cook of Apple as part of his delegation.

Analysts view the visit as a major platform for advancing economic interests, though issues like Taiwan and other geopolitical complexities also remain part of the agenda.

Ahead of Eid-ul-Azha, livestock farms in Cumilla are experiencing a busy season with 259,752 animals prepared for sacrifice, exceeding the district’s demand of 247,586 by about 12,300. Farmers expect fair prices this year as authorities have intensified monitoring to prevent the entry of Indian cattle. The Department of Livestock confirmed that local animals will meet demand in Cumilla and nearby districts, with surplus stock available for supply to other regions.

Farmers are using natural fattening methods and offering local as well as Brahma, Friesian, and Sahiwal breeds. Some have invested from one to over two million taka. However, traders have reported robbery and extortion risks on highways, prompting calls for stronger security. District officials said 430 permanent and temporary cattle markets will operate, with special measures to prevent counterfeit money and ensure safety.

Border Guard Bangladesh, police, and district administration have strengthened surveillance along the 106-kilometer border to block illegal cattle entry. Additional highway patrols have been deployed, especially at night, to protect livestock transport and maintain market stability.

Analysts believe that the ongoing discussions between the United States and China are unlikely to produce any major breakthroughs. However, limited, pragmatic, and transaction-based agreements may emerge from the talks. According to Professor Nick Bisley of La Trobe University, China’s main interest lies in reducing tariffs on its exports to the U.S., though it remains uncertain whether such concessions will be achieved.

Bisley told Al Jazeera that purchase-related agreements could receive the most attention. China may announce large-scale soybean purchases from the U.S., offering relief to American farmers affected by the Iran war’s economic impact. Additionally, Beijing might place new aircraft orders with Boeing. The formation of a joint trade board between the two nations is also reportedly under discussion.

Despite these possibilities, Bisley cautioned that expectations for major success are low. He described the meeting as a face-saving effort, allowing both sides to present the outcome domestically as a diplomatic achievement, while significant tariff reductions remain unlikely.

Advance ticket sales for intercity trains ahead of Eid-ul-Azha began on Wednesday morning, drawing massive demand within minutes. According to railway sources, nearly 6 million online hits were recorded within the first 30 minutes of sales, and most tickets for the western region—including Rajshahi, Rangpur, and Khulna divisions—were sold out within an hour. The railway reported a total of 31,240 seats across 43 trains, with 15,266 in the western region and 15,974 in the eastern region. Ticket sales for eastern routes started later in the day.

The railway authority announced that tickets for May 24 to 27 journeys would be sold from Thursday to Sunday, with each passenger allowed to purchase up to four tickets once. Tickets are non-refundable, and 10 special trains will operate for Eid. Additionally, 25 percent of seats will be sold as standing tickets at counters on the day of travel. Return tickets will be available from May 21 to 25.

Officials advised passengers to use the official “Rail Sheba” app to avoid fraud, warning that some individuals were offering fake ticket services through social media.

Dr. Atiq Mujahid, joint convener of the NCP and Member of Parliament for Kurigram-2, stated that the entire government rice procurement system is controlled by syndicates. Speaking at a seminar titled “Farmers’ Outcry During Rice Procurement Season: Crisis and Way Forward” held at the NCP’s temporary central office in Banglamotor, Dhaka, he said middlemen benefit while farmers suffer under current policies. He warned that the issue has become one of sovereignty rather than just food security.

Other speakers at the event, including NCP joint convener Sarowar Tushar, criticized the government for failing to support farmers affected by untimely rains and poor procurement policies. They urged the introduction of agricultural insurance, direct rice purchases from millers, and early price announcements to help farmers negotiate better. National Labour Force convener Mazharul Islam Fakir blamed government officials for delays in seed distribution, while National Health Alliance convener Dr. Shadrul Alam emphasized ensuring transparent and accessible agricultural loans.

Speakers collectively accused the government of negligence and called for accountability and policy reform to protect farmers’ livelihoods.

Bangladesh Bank has imposed new restrictions on its officials and employees regarding participation in training, seminars, and workshops both at home and abroad. According to an office order issued on Wednesday, officials are now prohibited from attending any such events funded by government or private banks, financial institutions, or any organization that receives services from or supplies goods and services to the central bank. The directive takes immediate effect.

The order further states that Bangladesh Bank officials cannot act as trainers or examiners in programs financed by banks or financial institutions. Participation as speakers or trainers in domestic seminars is allowed only with prior approval from the Human Resources Department-2, and no honorarium may be accepted from the organizing institution. The central bank said the move aims to prevent conflicts of interest and maintain neutrality in its operations.

The decision follows reports that some officials had traveled abroad at the invitation of supplier companies, with allegations that certain departments provided undue advantages to those firms in procurement processes.

India has increased the import duty on gold and silver from 6 percent to 15 percent, effective from Wednesday, according to a government order cited by Reuters. The move aims to reduce pressure on foreign exchange reserves and limit imports of the two precious metals. The new structure includes a 10 percent basic customs duty and a 5 percent agriculture infrastructure and development cess.

Experts said the higher duty could dampen demand in the world’s second-largest consumer of precious metals but may help narrow India’s trade deficit and support the rupee. However, they warned that the steep tariff could revive smuggling, which had declined after a previous duty cut in 2024. Surendra Mehta of the India Bullion and Jewellers Association noted that the government’s decision was expected as part of efforts to reduce the current account deficit, though it may affect demand amid already high prices.

Prime Minister Narendra Modi recently urged citizens to avoid buying gold for a year to protect foreign reserves. Bullion traders reported that banks had paused imports for over a month due to a 3 percent integrated goods and services tax, leading to a 30-year low in April imports. Imports may fall again following the latest duty hike.

A proposed $1.5 billion Trump International Hotel and Tower project on Australia’s Gold Coast has been cancelled after relations between local developer Altus Property Group and the Trump Organization deteriorated. Altus executive David Young announced on LinkedIn that his firm had withdrawn from the project, citing the Trump brand’s increasingly negative image among Australians due to U.S. military posturing around Iran and global tensions. He described the decision as purely business-related and denied any personal conflict with the Trump family.

The Trump Organization responded by accusing Altus of failing to meet basic financial obligations despite months of discussions and repeated promises. The project, planned for Surfers Paradise in Queensland, was still listed on Altus’s website with claims of preliminary approval and an August construction start. However, Gold Coast Mayor Tom Tate confirmed that no formal application had been submitted to the city council.

Griffith University’s Professor Paul Burton noted that many ambitious tower projects in the region have stalled before construction, emphasizing that while AI can generate attractive designs, real-world financing and credibility remain decisive challenges.

The Refugee and Migratory Movements Research Unit (RMMRU) has warned that around two million Bangladeshi expatriates in the United Arab Emirates could face serious livelihood risks if the ongoing war in the Middle East continues. The warning was issued at a press conference held at the National Press Club on Wednesday, where RMMRU presented a report titled “The Ongoing War Situation in Iran and the Gulf Region: Impacts and Actions for Bangladeshi Migrant Workers.”

According to the report, the conflict has already disrupted business activities across the Gulf region, causing uncertainty in the labor market. Declining investor confidence, rising costs, and infrastructure damage could halt projects and eliminate expected employment opportunities. The report also noted that disruptions in mobility have created a secondary crisis in the recruitment process, leading to disputes between agents and prospective workers over recruitment costs.

RMMRU highlighted the absence of a crisis response fund or real-time monitoring system to address job losses, forced returns, or stranded migrants. Dr. Tasneem Siddiqui, RMMRU’s founding chair, emphasized the need for new labor markets, skill development, language training, and modernization of the education system to adapt to long-term global labor market changes.

The government of Bangladesh has announced new prices for sacrificial animal hides ahead of the upcoming Eid-ul-Azha. Commerce Minister Khandaker Abdul Muktadir informed reporters at the Secretariat on Wednesday afternoon that the price of salted cowhide in Dhaka has been set between Tk 62 and Tk 67 per square foot. Outside Dhaka, the rate will range from Tk 57 to Tk 62 per square foot.

According to the minister, the price of salted goat hide has been fixed at Tk 25 to Tk 30 per square foot, while the price for she-goat hide has been set between Tk 22 and Tk 25. The announcement comes as part of the government’s annual price determination process for raw hides during the Eid-ul-Azha season, when large numbers of animals are sacrificed across the country.

The new rates are expected to guide traders and tanners in the upcoming hide collection and processing period during the festival.

The International Energy Agency (IEA) has forecast that global oil supply will decline by 3.9 million barrels per day throughout 2026 due to disruptions caused by the ongoing conflict in the Middle East. In its latest report, the agency said the stalemate in the region, particularly around the Strait of Hormuz, has led to a rapid depletion of global oil inventories.

According to the IEA, global oil demand is also expected to fall by 420,000 barrels per day this year. The agency noted that more than ten weeks after the start of the Middle East conflict, the continuing supply shortfall through the Hormuz Strait is driving inventories down at a record rate.

The report added that the ongoing deadlock and fast-declining reserves could signal a potential rise in oil prices in the near future.

The Executive Committee of the National Economic Council (ECNEC) on May 13, 2026, approved nine development projects with a total estimated cost of Tk 36,695.72 crore. Of this amount, Tk 36,490.93 crore will come from government funds and Tk 204.79 crore from the implementing agencies’ own resources. The meeting, held at the Bangladesh Secretariat, was chaired by Prime Minister and ECNEC Chairperson Tarique Rahman.

The approved projects include three new, five revised, and one extended project. Among them are initiatives under the ministries of culture, health, ICT, social welfare, defense, housing and public works, water resources, and power, energy and mineral resources. Notable projects include the Padma Barrage (Phase 1), Chattogram City Outer Ring Road (5th revision), and infrastructure for Hi-Tech City-2. Senior ministers and government officials attended the meeting.

The meeting was also informed about two additional projects costing less than Tk 50 crore that had already been approved by the planning minister, including infrastructure development at Mymensingh Zilla School and construction of an airmen barrack complex at Kurmitola Air Base.

Delegations from China and the United States have begun trade discussions in South Korea, according to Chinese state media reports released on Wednesday. The meeting is taking place near Seoul’s Incheon International Airport, just hours before U.S. President Donald Trump’s scheduled visit to Beijing. No further details about the discussions have been disclosed.

U.S. Treasury Secretary Scott Bessent had earlier confirmed plans to meet Chinese Vice Premier He Lifeng, both of whom have previously led multiple rounds of trade negotiations. The talks are believed to be final preparations for potential announcements expected during an upcoming summit between Trump and Chinese President Xi Jinping. Last year, Washington and Beijing imposed reciprocal tariffs exceeding 100 percent on each other’s goods, but in October they agreed in South Korea to suspend the trade war for one year.

Bessent stated that economic security is national security and announced he would travel to Beijing for the Trump-Xi summit, accompanied by more than a dozen business executives, including Nvidia CEO Jensen Huang and Tesla CEO Elon Musk.