Stories tagged “Global Trade.”
30 stories
Cartaz was a permit issued by the Portuguese to merchants who wanted to pass through the Strait of Hormuz. The permit ensured the merchants' safety and allowed them to trade freely. The concept of cartaz has been revived in modern times, with the Iranian government imposi…
Iran plans to ban US and Israeli ships from the Strait of Hormuz, according to local media. The move is part of a proposed agreement between Iran and Oman to manage the strategic waterway. The agreement would prohibit ships from the US, Israel, and other hostile countries…
US Secretary of State Marco Rubio says progress has been made in talks between Oman and Iran over the Strait of Hormuz, raising hopes that one of the key sticking points in efforts to reduce tensions between Washington and Tehran could soon be resolved.
Twenty five US states sued the administration of US President Donald Trump over new tariffs of 10% to 12.5% on goods from 60 trading partners. The tariffs came into effect in July, targeting countries including the UK, China as well as the European Union.
25 US states sue Trump administration over sweeping new tariffs
Twenty-five US states, nearly all led by Democrats, sued Donald Trump's administration over wide-ranging tariffs, arguing that the president had exceeded his authority in imposing the new levies on dozens of countries.
US President Donald Trump insisted that fresh negotiations with Iran were underway, accusing Tehran of publicly denying talks even as discussions continued over the future of the Strait of Hormuz and Iran's nuclear program.
Yemen's Houthi rebels have denied planning to charge ships for passing through the Red Sea, saying passage through the waterway remains free. The denial came in a statement issued by the Houthi-run Humanitarian Operations Coordination Center (HOCC).
UK looks to build naval coalition to secure shipping in Strait of Hormuz
The UK is looking to build a naval coalition to secure the Strait of Hormuz, a key shipping route in the Middle East. This move comes as the US and Saudi forces strike an Iraqi militant alliance, expanding the war beyond its main focus in Iran.
Iran is not closing the sea. It is selling it, and Tokyo has been quoted a price
Iran has not closed the Strait of Hormuz, but is instead selling passage to ships, with Tokyo being quoted a price of up to $2 million per voyage. This has significant implications for global trade and Japan's economy.
Trump imposes new global tariffs, drawing protests from trading partners
The United States has imposed new tariffs of 10% and 12.5% on goods from 60 trading partners, including the EU and China, alleging those countries failed to curb imports made by forced labor. The move is the White House's first step in efforts to rebuild President Donald …
The Trump administration has imposed new tariffs of 10% and 12.5% on goods from 60 trading partners, including the European Union and China, over allegations of lax enforcement of forced labor bans. The move is the White House's latest effort to restore President Donald T…
US President Donald Trump has announced that he will use Iran's frozen assets to pay for damages to ships and cargo in the Strait of Hormuz. This move comes after Iran's military forces have repeatedly attacked merchant vessels in the region.
US Secretary of State Marco Rubio told Southeast Asian foreign ministers that Iranian control of the Strait of Hormuz would set a dangerous precedent with repercussions beyond the Middle East.
Asia FX: Yen slides past 163 as oil risks pressure importers; won holds resilient
The Japanese yen retreated beyond 163 per U.S. dollar on Wednesday, hovering near its weakest level since 1986 as rising U.S. Treasury yields and elevated oil prices underpinned the greenback, while investors remained alert for signs of official intervention from Tokyo.
The US military has launched a new wave of attacks against Iran, targeting the country's military capabilities and infrastructure. The attacks come after a two-week ceasefire between the US and Iran, which was agreed upon on April 8. The US has stated that it will continu…
An informed source in the Islamic Revolutionary Guard Corps (IRGC) Navy has talked about the current status of the Strait of Hormuz, emphasizing that restrictions on vessel transit will remain in place until conditions change. The source stated that as long as hostile act…
Iran has vowed to retaliate against the US if its infrastructure is targeted, threatening to destroy regional infrastructure and close the Bab el-Mandeb Strait.
Some ships refusing U.S.-military guided Hormuz transits after attacks, sources say
Shipping companies are avoiding using a U.S. military-guided transit operation through the Strait of Hormuz after a wave of Iranian attacks on vessels sparked safety concerns.
Shipping industry leaders are warning that President Donald Trump's proposal to charge a 20% levy on cargo passing through the Strait of Hormuz could discourage vessels from using the waterway even further, deepening a slowdown that has already cut traffic through the cri…
The US-Iran conflict has escalated sharply overnight, with attacks on commercial shipping, renewed military operations, and growing fears the fighting could spread across the Gulf. Two UAE oil tankers were hit by Iranian cruise missiles in the Strait of Hormuz, killing on…
Russia is working to reroute grain shipments from the Sea of Azov after its vessels came under Ukrainian attacks. The Ukrainian military claims to have hit 11 more Russian vessels in overnight strikes.
The US has launched new airstrikes against Iran after a commercial ship was attacked in the Strait of Hormuz. The attack caused significant damage to the ship and a civilian crew member is missing.
Iran's top diplomat, Araghchi, is heading to Oman for bilateral consultations on regional developments, particularly the issue of the Strait of Hormuz. The two countries will discuss setting up arrangements for safe maritime transit through the waterway.
Tensions between the US and Iran remain high as the two nations clash over maritime control in the Strait of Hormuz. Iran has published a response criticizing a NATO meeting as 'baseless and politically motivated', while the US Central Command denied Iran's statements.
U.S. military launches strikes on Iran for second straight day
The U.S. military has launched strikes on Iran for the second straight day, escalating violence that threatens to strain an already fragile ceasefire. The attacks came after President Donald Trump said the U.S. would probably target Iran again.
The US and Israel are violating the terms of the MOU between Iran and the US, with Israel continuing its aggression in Lebanon. Iran is permitted to take action against the perpetrators.
Iran's Deputy Foreign Minister Kazem Gharibabadi stated that no country will be allowed to intervene in demining the Hormuz Strait, emphasizing Iran's full control over the area.
Kayhan discusses the strategic importance of the Strait of Hormuz, stating it's under Iran's control and any attack will receive a response beyond imagination.
Oman informed European officials that the Strait of Hormuz will not return to its pre-war status. Ships passing through may be charged fees for services like de-polluting or navigation.
Three oil tankers altered their course and returned toward the Persian Gulf after receiving warnings from the IRGC Navy. The vessels were passing through the southern corridor of the Strait of Hormuz despite designated routes.