U.S. President Donald Trump is set to impose a 25% tariff on Mexico and Canada starting February 1. This follows his earlier warning related to undocumented immigration, trade fraud, and fentanyl trafficking. Trump also mentioned plans to impose a 10% tariff on Chinese goods but did not elaborate. Despite not signing the tariff order earlier, he confirmed the move after his swearing-in. The tariffs will remain in place until these countries take action against illegal immigration and drug trafficking.

Argent LNG, developing a 25 MTPA LNG facility in Louisiana, signed a non-binding agreement with Bangladesh to supply up to 5 million metric tons of LNG annually. If completed, the project could supply LNG to Bangladesh’s state-owned Petrobangla. The agreement ensures reliable energy for Bangladesh’s industries, despite its price sensitivity, as seen in its return to coal during 2022’s LNG price spikes due to the Russia-Ukraine war.

Malaysia has made history by recognizing cryptocurrency as eligible for zakat, the obligatory Islamic charity. The Federal Territories Islamic Religious Council announced the decision to align zakat practices with the digital era. Cryptocurrency, a rapidly growing sector in Malaysia, involves 54.2% of the country’s investors, mostly aged 18–34, holding assets worth 16 billion ringgit. Officials see this as a potential new zakat source, particularly for young Muslims. The move reflects Malaysia’s effort to adapt Islamic finance to modern economic trends.

Professor Dr. Muhammad Yunus has appealed to world leaders for assistance in recovering billions stolen from Bangladesh. During the World Economic Forum in Davos, he met with leaders from Germany, Belgium, Thailand, Switzerland, and Congo, discussing economic cooperation, climate action, and the Rohingya crisis. Dr. Yunus highlighted corruption under the former government and outlined the interim government’s reform efforts. He urged international support to investigate past financial crimes and emphasized Bangladesh’s youth potential, clean energy initiatives, and plans to strengthen regional partnerships like BIMSTEC.

US President Donald Trump has signed an executive order to withdraw the US from the World Health Organization (WHO), citing its handling of Covid-19, failure to reform, and perceived political bias. The move, announced on his first day back in office, revives a decision he initiated during his previous term but was reversed by President Biden. The US, which contributed nearly 20% of WHO’s $6.8 billion annual budget in 2023, risks destabilizing the agency’s funding. Trump hinted at a possible return, saying, “We’ll see what happens.”

Chinese Vice President Han Zheng met Elon Musk in Washington as part of a high-level delegation, discussing trade ties and welcoming U.S. businesses to China. Musk is set to join the Trump administration as co-head of the Department of Government Efficiency. Han also met Vice President-elect J.D. Vance to discuss bilateral and international relations. Emphasizing shared interests, Han pledged reforms and an improved business climate, aiming for stable, healthy, and sustainable U.S.-China cooperation.

Argentina’s Ambassador to Bangladesh, Marcelo Cesa, has requested Bangladesh’s cooperation to introduce microcredit in Argentina and increase trade between the two nations. Cesa highlighted the unexplored potential in sectors like cotton, pharmaceuticals, textiles, and football. The Chief Adviser, Dr. Muhammad Yunus, supported expanding bilateral ties, noting the strong emotional connection through football. The discussion also touched on investment opportunities and energy cooperation, as well as Argentina’s appreciation for Bangladesh’s commitment to combating enforced disappearances.

Commerce Advisor SK Bashir Uddin revealed that 37 lakh of TCB’s 1 crore family cardholders are fake. Speaking at a symposium in Dhaka, he emphasized addressing inequality through policy reforms and criticized unethical bank profits during the economic downturn. Dr. Debapriya Bhattacharya of CPD condemned the reckless VAT hike and the lack of direct tax collection strategies. Despite record Aman production, corruption in procurement persists, leaving farmers unpaid. Experts questioned the government’s economic legacy and reform strategies.

In Bangladesh, joint purchases of Family Savings Certificates are no longer allowed, and institutional funds cannot be invested in them. From now, only individual buyers, including Bangladeshi women aged 18 or above, physically disabled individuals, and men aged 65 or above, can apply. The maximum purchase limit is 4.5 million BDT per person. This new rule, effective immediately, replaces a 2012 regulation.

The National Board of Revenue (NBR) has decided to reduce the VAT rate for hotels and restaurants from 15% to 5%. This decision, confirmed by NBR Member Mohammad Belal Hossain Chowdhury, will be officially announced today. The NBR’s move follows a review of the Bangladesh Restaurant Owners Association’s appeal. Earlier, the VAT on restaurants had been raised to 15% from 5% on January 9, alongside VAT hikes on over 100 goods and services.

The National Board of Revenue (NBR) has announced that starting February 1, 2025, all certificates, licenses, and permits for import-export goods must be submitted through the Bangladesh Single Window system, replacing traditional paper certificates. This change, impacting seven key government institutions, aims to streamline customs procedures, reduce costs, and prevent customs evasion. The system will be fully operational by March 2025, covering 19 government agencies. This initiative supports Bangladesh’s commitment to the WTO’s Trade Facilitation Agreement, ensuring a more efficient and faster import-export process for businesses.

The Indian rupee has reached its lowest level in two years, depreciating 0.7% in a single day to 86.7550 against the US dollar. Since December, the rupee’s value has dropped by 2%, driven by India’s slow economic growth and expectations of an interest rate cut by the central bank in February. Analysts predict further depreciation unless significant interventions are made. The decline has also strained the central bank’s reserves, highlighting broader economic challenges.

The interim government has approved a 3% hike in supplementary duty on mobile services, raising it from 20% to 23%. This increase will further reduce the value of mobile recharges, leaving users with only 43.7 BDT worth of service per 100 BDT recharge. The move has sparked criticism from consumer rights groups, citing rising costs as a barrier to internet accessibility and technological progress. Mobile and internet subscriber numbers have already declined significantly due to escalating costs.