On December 22, India concluded a landmark Free Trade Agreement (FTA) with New Zealand. The FTA provides major duty-free access for Indian exports, protects sensitive domestic sectors, and supports inclusive and resilient economic growth. The FTA improves market access for Indian goods and also opens opportunities in
On December 16, it was reported that India proposed a preferential trade agreement with Mexico to lessen the impact of new tariffs scheduled to take effect on January 1, affecting Indian exports in around USD 2 billion.
India’s Commerce Secretary Rajesh Agrawal said technical discussions have already begun following
On December 18, Prime Minister Mark Carney announced that Canada will begin formal talks with the United States in January to review the U.S.-Mexico-Canada trade agreement (USMCA). Internal Trade Minister Dominic LeBlanc will lead discussions with U.S. counterparts. Carney said Canada also plans to pursue additional
On December 12, it was reported that Mexico’s decision to impose higher tariffs on products originating from Asian countries without trade agreements, particularly China, effective January 1, has intensified a debate within the domestic market, revealing clear opposing positions across industries, especially the auto
Volvo Cars said it will not continue sales of its 2026 EX90 in Canada, as the electric three-row crossover is built in the U.S. and subject to 25% Canadian counter-tariffs.
Canada introduced retaliatory tariffs on U.S.-built vehicles this April, soon after U.S. President Trump enacted a 25% tariff on vehicles import
On December 11, it was reported that Mexico’s Senate approved a measure to increase import tariffs by up to 50% on more than 1,400 product categories from countries without free trade agreements, mainly targeting China.
The bill, proposed by President Claudia Sheinbaum and passed with 76 votes in favor and five again
On December 8 in a post on Truth Social, U.S. President Trump said he had told China’s President Xi Jinping that the US would allow Nvidia “to ship its H200 products to approved customers in China . . . under conditions that allow for continued strong National Security. President Xi responded positively!”
Trump adde
On December 8, U.S. President Trump warned that he will impose an additional 5% tariff on Mexico if it does not immediately release water owed to the U.S. under a 1944 treaty. 'Mexico continues to violate our comprehensive Water Treaty, and this violation is seriously hurting our BEAUTIFUL TEXAS CROPS AND LIVESTOCK,'
On December 3, at the UBS Global Industrials and Transportation Conference, Lucid Group Chief Financial Officer Taoufiq Boussaid said that Lucid’s upcoming midsize electric SUV, expected to be named the Lucid Earth, will be made first in Saudi Arabia.
The midsize platform is aimed at underpinning three different cars
The Canadian government is notifying Stellantis NV that it is in default on its taxpayer-backed financial aid after it moved planned auto production to a U.S. plant, Industry Minister Melanie Joly said. “Today, on December 4, I’m formally announcing that we’re serving Stellantis with a notice of default under the con
On December 3 at the New York Times DealBook Summit, U.S. Treasury Secretary Scott Bessent predicted that the Trump administration will be able to implement its tariff agenda regardless of whether or not it prevails in a pending case before the Supreme Court. Repeating assertions he had made prior to the start of the
In a statement posted on X on December 1, 2025, U.S. Commerce Secretary Howard Lutnick confirmed that the U.S. will retroactively lower South Korea general import tariffs, which include tariffs on the automotive market, to 15%, retroactive to November 1. This comes after South Korea’s ruling party proposed a bill on
The U.S. is holding public hearings this week in Washington D.C. as part of a mandatory review of the U.S.-Mexico-Canada Agreement (USMCA), as it’s known in the U.S, or Canada-U.S.-Mexico Agreement (CUSMA) as it is known there. The formal review of the agreement is due to start July 1, 2026.
Canadian Prime Minister M
On November 26, Prime Minister Mark Carney’s government announced it will lower the tariff-rate quota level for steel imports from countries with which Canada does not have a trade agreement to 20% from 50%. Steel produced in those nations will face a tariff when their volumes exceed 20% of what they sold to Canadian
On November 24, U.S. President Trump explained on his Truth Social that the full effect of his tariffs on U.S. importers has not yet been felt.
Trump said that importers, “in order to avoid paying the Tariffs in the short term, “STOCK UP” by purchasing far more inventory than they can use. That heavy inventory purch
On November 23, Canadian Prime Minister Mark Carney told reporters on the sidelines of the sidelines of the G20 leaders’ meeting in Johannesburg, South Africa when asked about trade talks with the U.S., “We are very busy with the future of Canada, and with new partnerships. There will be conversations with the presid
On November 20, Polestar CEO Michael Lohscheller spoke to media in Yongsan, Seoul, about many thing including the company’s strategy going forward.
Lohscheller said Polestar is poised to leverage its production capacity at Renault Korea’s Busan plant as a strategic export base to North America, diversifying from its
On November 17, Kia confirmed that the EV9 GT has officially been “delayed until further notice”. The sporty electric SUV had its U.S. debut at the 2024 LA Auto Show last November.
Kia said the delay is due to “changing market conditions.” The EV9 GT is the second EV Kia has put on hold indefinitely, following the EV
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