Donald Trump has announced that a 30% tariff will be imposed on imports from the European Union and Mexico starting August 1.
Although he gave limited praise to Mexico, he accused the country of not doing enough to stop drug trafficking. He labeled the EU's trade practices as a national security threat and declared that one-sided trade relationships would no longer be tolerated.
This move will bring 24 countries, including all 27 EU member states, under the new tariff regime. Trump had earlier announced a similar 35% tariff on imports from countries including Bangladesh.

Garment exporters in Bangladesh have expressed serious concern about the potential suspension of up to $2 billion worth of orders if the Trump administration's proposed 35% tariff comes into effect.
Ongoing trade negotiations between the US and Bangladesh have yielded little progress, prompting brands—including retail giant Walmart—to delay or cancel orders.
Exporters blame the slow pace on disagreements over tariff structures and local value addition. Leaders of BGMEA and BKMEA say the talks are stalling due to undisclosed agreements and a lack of consultation with the business community. They are urging the government to take bold and strategic steps immediately.

Hong Kong’s commercial property sector is under renewed stress as property values continue to drop and office and retail vacancies rise. JLL warns values may fall another 5–10% this year, with developers and banks increasingly strained. Office rents have fallen over 40% since 2019, and retail vacancies are at record highs. The crisis may spread to luxury residential properties as owners seek liquidity. Some developers have already defaulted on large debts, raising concerns over broader financial sector stability.

Tesla is set to open its first showroom in India on July 15, marking a significant step into the country’s growing electric vehicle (EV) market. The “Experience Center” will be located in Mumbai, the financial capital of India. The EV giant signed an agreement in March to establish the showroom. Meanwhile, Tesla is also scouting for a suitable site in New Delhi to expand its presence further in the Indian market. The move signals Tesla’s serious intent to invest in India’s EV future.

Germany is expected to be the hardest hit in Europe by U.S. tariffs, particularly targeting the auto industry. Analysts warn of a 0.4% drop in Germany’s GDP, with ripple effects across Central and Eastern Europe. Ireland also risks major losses if pharmaceutical tariffs are enforced, potentially shrinking its GDP by up to 5%. The EU’s total trade could fall by 8% over five years. Uncertainty may harm investment and jobs, even in countries with limited U.S. exports like France and Spain.

China’s economy grew 5.2% year-on-year in the April–June quarter, supported by strong export performance despite U.S. trade tensions and tariffs. Analysts warn that growth may slow in the second half due to continued external pressure. While exports to the U.S. dropped 43% in May, China increased exports to ASEAN and the EU to offset the loss. Government initiatives to reduce external dependency and boost domestic consumption have helped maintain stability amid a struggling property sector and geopolitical uncertainty.

To compensate for recent disruptions in import-export activities caused by server issues, the Benapole Customs House will remain open on Friday and Saturday, despite these being government holidays.
Additional Commissioner Shariful Islam confirmed that all operations will continue as per directives from the National Board of Revenue (NBR). While the presence of traders remains relatively low on holidays, customs officers and staff are actively maintaining full operations. Port authorities have also ensured necessary preparations for loading and unloading activities.

OPEC's latest World Oil Outlook 2025 projects global crude oil demand will grow by 7.9% over the next five years, reaching 113.3 million barrels per day by 2030. While demand forecasts for China have been revised downward due to slower economic growth and increased EV usage, OPEC expects rising consumption in developing regions like India, Africa, and the Middle East. The organization also called for $18.2 trillion in global energy investment by 2050 to meet future demand.

During the second day of discussions between Bangladesh and the United States on tariff-related matters, both sides reached a general consensus on several aspects concerning current and future trade dynamics, though some issues remain unresolved, according to Bangladesh’s Chief Adviser.

A post from the Chief Adviser’s official Facebook page stated that Bangladesh Trade Adviser Sheikh Bashir Uddin engaged in a constructive dialogue with U.S. Trade Representative Jamieson Greer. The discussions focused on tariffs and other trade-related interests. Bangladesh reiterated its commitment to improving both exports and imports, and expressed hope for U.S. cooperation in ensuring fairness and a competitive trade environment. Further talks are scheduled in the coming days.

U.S. President Donald Trump has announced a 35% tariff on Canadian goods, set to take effect from August 1. This follows earlier tariffs of 25% imposed on select Canadian imports. In a letter to Canadian Prime Minister Mark Carney, Trump stated that U.S.-based manufacturing would be exempt from the tariffs. He cited Canada's protectionist dairy policies, trade imbalance with the U.S., and failure to prevent fentanyl trafficking as key reasons behind the move. The new tariff is expected to have a significant impact on the Canadian economy.

All seven operational units at the Ghorashal Thermal Power Plant in Narsingdi have been forced to shut down due to a severe gas crisis, confirmed Chief Engineer Md. Enamul Haque.

The crisis, ongoing for the past two years, has worsened since Eid. Units 3, 4, 5, and 7 are currently offline. The government’s prioritization of fertilizer factories for gas supply has further strained operations. Unit 6 has remained permanently out of service since a fire in 2010, and Units 1 and 2 have long been shut due to mechanical issues.

Bangladeshi and U.S. officials successfully concluded the second day of a three-day bilateral dialogue on tariff and trade agreements in Washington, D.C. on Thursday.

Bangladesh’s Trade Advisor Sheikh Bashir Uddin met with U.S. Trade Representative Jamison Greer at his office to discuss mutual trade interests. All key aspects of bilateral trade relations were reportedly covered. Further meetings are scheduled for Friday night, Bangladesh time.

The United States has set two key conditions for Bangladesh during ongoing talks to waive the 35% tariff effective from August 1: investing in the U.S. manufacturing sector and ensuring labor rights in Bangladesh. Bangladesh aims to reduce the trade deficit by increasing imports of cotton, wheat, fuel, and purchasing Boeing aircraft. Despite challenges, both sides agree on most trade aspects. Discussions continue to finalize a bilateral trade agreement to protect Bangladesh’s interests amid growing U.S. tariff pressures.

Brazilian President Luiz Inácio Lula da Silva strongly criticized former U.S. President Donald Trump's proposal to impose a 50% tariff on all Brazilian imports. Lula asserted that Brazil is a sovereign nation and will not accept foreign interference in its democratic institutions or judicial system. He dismissed claims of a U.S. trade deficit with Brazil, stating that over the past 15 years, the U.S. has enjoyed a $410 billion trade surplus. Lula emphasized that Brazil would respond to unilateral tariff actions through its own legal and economic frameworks.

The second round of three-day tariff negotiations between Bangladesh and the United States began in Washington, D.C. on Wednesday. Discussions covered nearly all major aspects of bilateral trade. The Bangladesh delegation is led by Trade Advisor Sheikh Bashiruddin, with Dr. Khalilur Rahman and Fayez Ahmed Tayeb joining virtually from Dhaka. Senior officials from U.S. agricultural, energy, trade, and copyright departments also participated. Bangladesh aims to finalize an agreement before the new U.S. tariffs — set to take effect on August 1 for 14 countries — come into force. Talks will continue through Friday.