WTO economists have revised the 2026 global trade forecast upward for merchandise trade, citing AI investment and supply chain adaptation, while lowering the outlook for services trade due to Middle East conflict impacts. The gains are described as uneven across regions and sectors. This is an official WTO statistical/forecast release.
Topic Archives:Commodities
Ministry of Industry and Trade Issues Circular 65/2026/TT-BCT on Rice Export Business
Vietnam’s Ministry of Industry and Trade has issued Circular 65/2026/TT-BCT governing rice export business operations. The circular introduces new regulations on rice export quota allocation. Specific provisions cover licensing and conditions for enterprises engaged in rice exports.
Taiwan MOEA Solicits Industry Feedback on Steel Export Quota Mechanism to EU
Taiwan’s Ministry of Economic Affairs clarified its management of steel export quotas to the EU under the EU’s safeguard measures, which apply tariff-rate quotas on steel imports. The quota allocation divides national quotas into ‘export performance quotas’ (based on 2022-2024 average export volumes) and ‘open application quotas,’ with nearly 80% of industry respondents supporting the […]
Taiwan MOEA Adjusts EU Steel Export Quota Allocation Mechanism After Industry Consultations
Taiwan’s Ministry of Economic Affairs met with steel industry associations on September 24 and reached consensus to reduce the ‘open application quota’ share for metal-coated steel sheets (EU Category 4A) from 20% to 10%, with allocations split into three tranches to prevent immediate exhaustion. The adjustment responds to the EU’s continued tariff-rate quota regime for […]
UK Grants South Korea Sanctions Exemption for Russian LNG Imports
The UK has granted South Korea an exemption from sanctions on Russian LNG imports. This is a named sanctions/export controls measure affecting specific energy commodity trade flows between South Korea and Russia.
General Council addresses WTO reform, ministerial follow-ups, ongoing negotiations
WTO General Council met on 5-6 October 2026 to discuss WTO reform, follow-up on past ministerial conference outcomes, and ongoing negotiations. Members also took up the Agreement on Electronic Commerce, emerging agricultural trade issues, and preparations for future ministerial conferences.
WTO Committee on Agriculture reviews member farm policies and notifications
The WTO Committee on Agriculture met on 24-25 September to review members’ implementation of commitments and notifications. Members discussed a counter-notification by Australia challenging India’s sugar support policies. The FAO also briefed the committee on the global state of farming.
General Trade Licence: Maritime Transportation of LNG to South Korea (Russia Sanctions)
The UK has issued a General Trade Licence authorising UK businesses to conduct maritime transportation of LNG to South Korea, permitting certain activities otherwise prohibited under the Russia (Sanctions) (EU Exit) Regulations 2019. This licence provides a specific exemption related to Russian sanctions for LNG trade with South Korea.
General Trade Licence: Maritime Transportation of LNG to Japan (Russia Sanctions Exemption)
The UK has issued a General Trade Licence authorising UK businesses to conduct maritime transport of LNG to Japan that would otherwise be prohibited under the Russia (Sanctions) (EU Exit) Regulations 2019. This licence provides a specific exemption for LNG shipments destined for Japan from Russia sanctions restrictions.
Ambassador Greer Issues Statement Following the Ministerial Meeting of the Global Forum on Steel Excess Capacity
USTR Ambassador Greer chaired the Global Forum on Steel Excess Capacity Ministerial Meeting, which reached consensus on a comprehensive framework for joint action called the Milwaukee Framework. The statement highlights Trump Administration actions to address global steel excess capacity. This plurilateral outcome has direct implications for steel trade policy and potential trade remedies.