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Regulations & Compliance We Bought a $500 Counterfeit Rolex So Good, Even Rolex Didn't Spot It
A WIRED investigation found that a $500 counterfeit Rolex 'super clone' passed inspection at Rolex's London flagship store during a bracelet adjustment. The report details the sophisticated counterfeit supply chain, including Chinese factories, social media sales, and Reddit-based quality control, raising concerns for customs and intellectual property enforcement.
Logistics Customs to Fight Growing Trade Fraud with AI 'Detective Border' — White House Report
A White House trade report, covered by FreightWaves, warns that illegal transshipment of China-linked goods through third countries has become a global system for evading U.S. tariffs, potentially costing the Treasury tens of billions of dollars annually. The report proposes an AI-enabled 'Detective Border' combining shipment data, routing histories and ownership, and identifies more than 40 elevated-risk countries.
Commodities China's Cotton Yarn Demand Fuels India's Cotton Consumption Growth, USDA Says
Indian cotton yarn exports to China tripled in the first 10 months of the 2025-26 marketing year, raising India's share of China's yarn import market from 7% to 21%, the USDA reported. The surge is fuelling record Indian cotton consumption, forecast at 26.5 million bales in 2026-27. Global consumption is set to hit a six-year high of 122.9 million bales.
Commodities India's edible oil imports jump 33.3% in July on higher palm, soybean oil demand
India's edible oil imports surged 33.3% in July 2026 to 14.81 lakh tonnes, driven by higher palm and soybean oil demand, according to SEA. Palm oil imports jumped 49.89% and soybean oil rose 31.05%. For the first nine months of the oil year, total imports grew 5%.
Commodities HPCL buys 4 million barrels of West Asian crude through spot tender, traders say
HPCL has bought 4 million barrels of West Asian crude through a spot tender, with BP supplying 2 million barrels of Murban, PetroChina 1 million barrels of Murban, and Trafigura 1 million barrels of Oman crude, according to Reuters. Murban delivered was priced about $7 per barrel above dated Brent, while Oman was about $4-5 above. The cargoes are scheduled to arrive around early October.
Regulations & Compliance DGFT Dispenses with Physical Challans for Voluntary Duty Payments Effective 1 August 2026
The Directorate General of Foreign Trade (DGFT) has removed the physical challan requirement for voluntary duty payments under the Advance Authorisation and EPCG schemes. The change, announced by the Commerce and Industry Ministry, applies to payments made on or after 1 August 2026 and will rely on authenticated digital records.
Regulations & Compliance Taiwan manufacturer settles case over falsified customs entries for $5.2M
Everlight Electronics and its Texas subsidiary agreed to pay $5.15 million to resolve allegations they misrepresented LED country of origin to avoid Section 301 tariffs. The settlement is part of a broader DOJ Trade Fraud Task Force enforcement push that has surpassed $1 billion in recoveries since August 2025.
Logistics Supply Chain: Why Ocean Rates Skyrocketed 300% in 5 Months
Ocean spot rates have climbed more than 300% in five months, with GEODIS President and CEO Laura Ritchie citing blank sailings, port congestion, and Red Sea and Strait of Hormuz threats as the cause. Cargo booked in March was still rolling into July, straining manufacturing assembly lines. Ritchie also detailed GEODIS's use of AI, drones, and a new client experience structure to manage the volatility.
Trade First tariff-free Scottish salmon shipment arrives in Bengaluru under UK-India CETA
The first tariff-free Scottish salmon shipment has arrived in Bengaluru under the UK-India CETA, according to the Economic Times – Foreign Trade. Produced by Bakkafrost and imported by Sashimi Foods, the consignment landed barely two weeks after the agreement became operational, with India removing the previous 33% import tariff.
Trade India Finance Ministry Imposes Five-Year Anti-Dumping Duty on Low Ash Met Coke
India's Finance Ministry has imposed an anti-dumping duty on low ash met coke imports, effective for five years from the date of provisional duty imposition. The duty, payable in Indian currency, follows a Directorate General of Trade Remedies (DGTR) investigation that found dumped exports causing injury to the domestic industry. The measure is expected to raise costs for steel producers who rely on this high-purity carbon fuel.
Commodities India's Edible Oil Import Bill Estimated to Rise 9% to ₹1.75 Lakh Crore in 2025-26 Market Year: SEA
India's edible oil import bill is projected to rise 9% to ₹1.75 lakh crore in the 2025-26 marketing year (November-October) due to higher import volumes and rupee depreciation, according to the Solvent Extractors' Association of India (SEA). Import volumes rose 7% in the first eight months, while weaker monsoon and delayed kharif sowing raise domestic production concerns.
Trade US-Mexico Cross-Border Trade Hits $87.2B in May, Led by Laredo Port Surge
Mexico remained the largest US trading partner in May 2026, with two-way trade of $87.23 billion, a 17.06% increase from May 2025. Port Laredo was the busiest gateway, handling $36.33 billion in trade. Germany's Döhler Group invested $64 million in a new Mexico plant to support exports.
Regulations & Compliance Plastic-bag manufacturer settles allegations of customs fraud for $7.3M
New York-based RediBagUSA and its CEO Jeffrey Rabiea agreed to pay $7.3 million to settle a customs fraud investigation. The U.S. Department of Justice alleged the company misrepresented the country of origin of plastic bags imported from China as Hong Kong to evade a 77.5% antidumping duty. The settlement resolves a whistleblower lawsuit, with the whistleblower receiving over $1.3 million.
Trade India-UK Trade Deal: Luxury Cars Get Cheaper, but Scotch Whisky Tariff Cuts Will Take Time
The India-UK Comprehensive Economic Partnership Agreement (CETA) entered into force on July 15, 2026, immediately lowering import duties on luxury cars from the UK. Tariffs on Scotch whisky and other premium spirits will be reduced gradually over ten years, with the standard 150% duty on such drinks falling to 75% by Year 10. Consumer benefits for spirits will depend on state-level taxes and company pricing decisions.
Trade India-UK Free Trade Deal Takes Effect: Textile and Scotch Whisky Tariffs Slashed
The India-UK free trade agreement came into effect on July 14, 2026, eliminating or reducing tariffs on 99% of Indian exports to the UK and 90% of UK imports into India. The deal is expected to boost textile exports from companies like Welspun Living and cut Scotch whisky duties from 150% to 75% immediately, with further reductions over 10 years.
Logistics 2M+ Import Containers to Set New Record in July as Retailers Front-Load Ahead of Tariff Hikes
The National Retail Federation (NRF) forecasts U.S. container imports will hit a new all-time record of 2.47 million TEU in July 2026, surpassing the previous record of 2.4 million TEU set in May 2022. The surge is driven by retailers front-loading inventory ahead of potential tariff increases in August and ongoing trade uncertainties. May volumes already reached 2.24 million TEU, up 14.9% year-over-year.
Trade Iran rushes to sell oil to India after Trump sanctions waiver – all you need to know
Following a 60-day sanctions waiver from the Trump administration, Iran is rushing to sell crude to Asian buyers including India. Around 68 million barrels of oil are floating at sea, over 80% without confirmed destination. However, Asian refiners remain cautious due to policy uncertainty and sanctions complexities.
Trade Australia suspends 60% of Indian fumigation service providers, raising export costs
Australia has suspended the licences of 60 per cent of Indian fumigation service providers, affecting 44 companies, after an audit by Australian biosecurity authorities. The suspension, effective last week, could force exporters to pay additional refumigation costs of A$700 to A$1,200 per container upon arrival in Australia. India's agri-exports to Australia exceed $500 million annually, with Basmati rice as the top export at $79 million.
Logistics Hormuz in the rearview as Asia-US ocean container rates soar past $7,900
Asia-US ocean container rates surged past $7,900 per FEU as peak season demand drives the trans-Pacific market. Rates to the East Coast hit $7,998/FEU, up 8%, and to the West Coast $6,175/FEU. The early peak season, geopolitical tensions in the Strait of Hormuz, and carrier capacity shifts are key factors, according to FreightWaves.
Logistics Ruan expands cross-border capabilities with new customs brokerage service across US-Mexico lanes
Ruan announced a new customs brokerage service to enhance cross-border logistics between the U.S. and Mexico. The service uses single-window systems, real-time visibility tools, and security certifications, aiming to reduce delays and improve supply chain performance.
Commodities Indian Refiners Book Crude for 45 Days as Flush Market Favors Buyers
Indian refiners have stocked up on crude oil for the next 45 days, with Russia remaining the top supplier and replacement barrels coming from the US, Venezuela, Africa, and Oman. The market is favoring buyers due to de-escalation in West Asia and increased Middle Eastern cargoes, as noted by Kpler and industry sources.
Technology Domestic PCB Manufacturing to Save Rs 40,000 Crore Imports Annually: Ashwini Vaishnaw
Union Minister Ashwini Vaishnaw announced that domestic PCB manufacturing could save Rs 40,000 crore in imports annually. Foundation stones were laid for two projects in Uttar Pradesh's electronics manufacturing cluster, involving a ₹3,250 crore JV with Korea Circuit Co. and a ₹3,500 crore facility by Amber Enterprises, expected to generate 3,000 jobs.
Trade India-UK Comprehensive Trade Deal to Slash Scotch and Gin Tariffs from July 15
The India-UK Comprehensive Economic and Trade Agreement (CETA) and Double Contribution Convention (DCC) take effect on July 15, 2026. The deal provides zero-duty access on 99% of Indian exports, reduces whisky tariffs from 150% to 75% initially, and establishes a phased auto import quota of 3.78 lakh vehicles over 15 years. Commerce Minister Piyush Goyal called it India's 'most comprehensive' trade pact.
Trade India Seeks Tariff Edge Over Asian Rivals as US Trade Chief Arrives for Talks
India is negotiating a trade deal with the United States, seeking tariff advantages over Asian competitors. Commerce Minister Piyush Goyal said he hopes to finalise an agreement before a temporary US tariff expires on July 24.
Trade India Imposes Anti-Dumping Duty on Sulphenamides Accelerators from China, EU, US
India has imposed an anti-dumping duty on imports of Sulphenamides Accelerators from China, the European Union, and the United States. The duty, ranging from $75 to $1748 per tonne, will be effective for five years as per a June 19 finance ministry notification based on a DGTR recommendation. Separately, a duty on Polyethylene Terephthalate resin from China was also noted.
Commodities Record Russian crude buys, stockpiling: How India secures oil supply amid Hormuz closure and US-Iran war
India, importing 90% of its crude needs, is stocking up on oil and diversifying supply sources as the Strait of Hormuz remains disrupted due to the US-Iran war. Russian crude imports hit a record 2.66 million barrels per day in June, while imports from the UAE remain near historic highs. The government has tasked ONGC with developing a new strategic petroleum reserve with an investment of roughly $1.6 billion.
Trade Kerala Budget Proposes Dedicated Gold Corridor in Kochi-Thrissur Belt to Boost Jewellery Trade
The Kerala state budget, announced by Chief Minister V.D. Satheesan, proposes a dedicated gold corridor in the Kochi–Thrissur belt to strengthen jewellery manufacturing and establish a gold exchange hub. The initiative, backed by a ₹10 crore allocation, aims to leverage Kerala's position as the largest gold-consuming state and create skilled employment. Industry leaders from Kalyan Jewellers and the Kerala Gold and Silver Merchants' Association have welcomed the move, noting its potential to attract back gold manufacturers who migrated to other states.
Commodities First Urea Vessel for India Sails via Hormuz, Set to Reach East Coast in 7-9 Days
The first of 16 stranded fertilizer vessels has begun sailing via the Strait of Hormuz and is expected to reach an Indian east coast port in 7-9 days. Industry sources said 7 more urea ships will depart in the coming days, with all 3 lakh tonnes of imported urea likely to arrive by July 15. Meanwhile, new tender rates have dropped sharply, with NFL's June 8 bids at $449/tonne west coast and $445/tonne east coast, far below April's $935/tonne.
Regulations & Compliance India Initiates Anti-Dumping Probe Against Chinese, Japanese Chemical Used in Tyres and Rubber
India's Directorate General of Trade Remedies (DGTR) has initiated an anti-dumping investigation into imports of Resorcinol, a chemical used in tyre and rubber products, from China and Japan. The probe follows a complaint by domestic producer Atul Ltd, which alleged that cheap imports are harming the Indian industry. The investigation will determine the existence, degree, and effect of dumping.
Commodities Strait of Hormuz Reopens but Gas Prices Unlikely to Recover Soon, Experts Warn
President Trump signed an MOU with Iran reopening the Strait of Hormuz, but experts warn that US gas prices, which have jumped over 35% since late February, will not recover soon. The strait remains mined, shipping is risky, and oil production infrastructure needs time to restart.
Trade US buyers keen to stitch deals with Indian apparel exporters
Despite strong interest from US buyers, Indian apparel exporters face pricing pressure with discounts demanded up to 10%. India's readymade garment exports fell for the sixth straight month in May 2026, down 14.1% year-on-year, primarily due to weak US demand. Competing sourcing destinations like Vietnam, Indonesia, and Cambodia are outperforming India, though Free Trade Agreements with the UK and Europe offer some relief.
Commodities Two New Urea Plants to Boost India's Domestic Production, Reduce Import Dependence
India is set to add 25.4 lakh tonnes of annual urea production capacity with two new fertiliser plants expected to begin operations soon, a move the government says will strengthen domestic availability and reduce reliance on imports. Domestic urea production hit a record 314.07 lakh tonnes in 2023-24, up from 225 lakh tonnes in 2014-15. Despite geopolitical disruptions, the government maintains subsidised retail prices.
Trade Nepal Clarifies: No Ban on Indian Mango Imports
The Indian Ministry of Agriculture confirmed that Nepal has not banned Indian mango imports, despite revised import conditions. Exports continue with compliance to new phytosanitary measures.
Trade India Eyes Canada for Crude Oil Amid Diversification Efforts
India is exploring Canada as a potential supplier of crude oil, focusing on heavy crude compatible with its refineries. High Commissioner Dinesh Patnaik highlighted ongoing discussions despite regulatory concerns.
Commodities India’s Pulse Self-Sufficiency Push Undercut by Stock Controls and Subsidised Sa
India's Mission for Aatma Nirbharta in Pulses, announced in Budget 2025-26, aims for self-sufficiency by 2027 through government procurement. However, recurring stock-holding limits on tur, urad, and chana, along with subsidised buffer stock releases through Bharat Dal, erode the private market infrastructure and NCDEX futures market that are essential for price signals and farmer acreage decisions, according to a report by The Hindu BusinessLine.
Trade Democrats Push for Reinstatement of China Port Tax
Democrats in Congress are advocating for the reinstatement of a port tax on Chinese ships, which was suspended in May. The tax, amounting to $3.2 billion annually, aims to protect the U.S. shipbuilding industry.
Regulations & Compliance India Extends Anti-Dumping Duty on Aluminium Foil Imports
The Indian government has extended the anti-dumping duty on aluminium foil imports from China and three other nations until December 15, 2026. This decision follows requests from companies like Hindalco Industries and SRF Altech.
Trade Bangladesh Wheat Tender Norms Challenge Indian Exporters
Bangladesh's recent wheat tender imposes specifications that may exclude Indian exporters due to competitive pricing and stringent quality requirements. Indian wheat's test weight and cost structure are key barriers.
Trade Chinese Investors Seek Indirect SpaceX Exposure
Chinese investors are exploring indirect avenues to gain exposure to SpaceX's IPO after being barred from direct participation. They are turning to offshore brokerage accounts and domestic investments in China's space sector.
Trade India-US Energy Cooperation Aims for $500 Billion Trade by 2030
A report highlights the potential of India-US energy cooperation to achieve a $500 billion trade target by 2030. The partnership focuses on hydrocarbons and advanced technologies.
Trade New Tariffs Trigger Early Trans-Pacific Peak Season
New tariffs and rising fuel costs have accelerated the trans-Pacific peak shipping season, with significant rate hikes reported. The U.S. Trade Representative's new tariffs on 60 countries and potential tariffs on Brazil and others are key factors.
Trade India Supports OMCs Amid Rising Crude Prices
The Indian government has allocated ₹1.23 lakh crore to Oil Marketing Companies (OMCs) to mitigate the impact of rising crude oil prices. This support includes an excise duty cut and is aimed at easing consumer burden during the West Asia conflict.
Trade India's Gold Tariff Hike Spurs Smuggling Surge
India's recent gold tariff hike has led to a resurgence in smuggling, with illegal imports potentially exceeding 100 tons in 2026. This has created challenges for banks and refiners, as grey market discounts disrupt legal trade.
Trade India, Indonesia Strengthen Trade Ties Amid Strategic Talks
India and Indonesia are enhancing their bilateral trade and defense cooperation following the 8th Joint Commission Meeting. Key discussions included maritime trade, investments, and security, building on the Comprehensive Strategic Partnership established in 2018.
Trade Global Trade Dynamics: Key Updates for Import/Export
Recent global trade developments have significant implications for import/export professionals. Key updates include changes in tariff rates, trade policy adjustments, and bilateral trade agreements. These changes are crucial for maintaining competitive advantage in international markets.
Trade India's Seed Sovereignty: A Strategic Shift
India's strategic focus on seed sovereignty has led to over 10,500 plant variety registrations under the Protection of Plant Varieties and Farmers’ Rights Act, 2001. This move aligns with global debates on genetic resources and digital sequence information.
Supply Chain Cold Storage Bottlenecks as Gulf Cargo Diverts to India
The diversion of Gulf cargo to India has led to significant cold storage bottlenecks, affecting supply chain operations. This disruption has caused inventory challenges and increased costs for companies relying on timely imports.
Trade India, UK Strengthen Ties with New Trade Initiatives
India and the UK have launched new initiatives to enhance cooperation in critical minerals and maritime security. These efforts aim to strengthen bilateral trade and ensure resilient supply chains.
Trade India-UK Launch Critical Minerals Supply Chain Observatory
India and the UK have launched the Critical Minerals Global Supply Chain Observatory to bolster India's capabilities in critical mineral supply chains. This initiative aims to enhance cooperation and secure resources for clean energy and advanced technologies.
Trade Descartes Achieves Record Revenue Amid Trade Challenges
Descartes reported a record $194 million in revenue for its fiscal first quarter of 2027, marking a 15% increase year-over-year. The company attributes its growth to increased demand for its supply chain solutions amid a challenging global trade environment.
Trade Akashvani News on Trade Developments
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Trade India Enforces Stricter Silver Import Curbs
India has imposed stricter controls on silver imports, requiring DGFT approval for grains and powder. This move aims to curb imports and ease pressure on the rupee.
Trade Akashvani News on Trade
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Trade US May End Russian Oil Waivers Amid Global Energy Concerns
The US is considering ending sanction waivers on Russian oil imports, initially granted to stabilize global energy supplies. The decision, pending from the Department of Treasury, could affect countries like India that benefited from these waivers.
Trade India-US Trade Agreement Nears Completion
The India-US interim trade agreement is 99% finalized, with completion expected soon. This deal aims to enhance bilateral trade and economic ties.
Trade India and US Engage in Trade Dialogue Amid Proposed Tariffs
India is actively engaged with the US regarding proposed tariffs under Section 301 of the U.S. Trade Act of 1974. The Ministry of Commerce and Industry is working towards a framework agreement, with public hearings scheduled for July.
Trade US Pressures India on Russian Oil Imports Again
The US, led by Secretary of State Marco Rubio, is renewing pressure on India to halt Russian oil imports, citing geopolitical concerns. This move revives tensions in US-India trade relations, with India emphasizing its energy autonomy.
Trade India-US Agriculture Cooperation Strengthened at USIBC Meeting
The US-India Business Council hosted a meeting in Washington to discuss India-US agricultural cooperation, led by IFFCO Chairman Dileep Sanghani. The dialogue focused on enhancing collaboration in agricultural productivity, technology adoption, and food security.
KUFOS Hosts Blue India 2026: Boosting India's Blue Economy
The Kerala University of Fisheries and Ocean Studies (KUFOS) will host the Blue India 2026 conference from June 4-6, focusing on India's blue economy. Key figures include Roy D. Palmer and N. Felix.
Trade India Reconsiders Scotch Tariff in UK Trade Deal
India is reviewing tariff concessions on Scotch whisky in its trade deal with the UK due to unresolved issues over steel quotas and duties. The trade agreement, initially set for May, has been postponed indefinitely as negotiations continue.