China is set to eliminate tariffs for all 53 African countries it has diplomatic ties with, offering duty-free access not just to the poorest nations but also to middle-income economies.
While the Asian giant already offers duty- and quota-free access to least developed countries (LDCs), the new pact will extend these benefits to middle-income African countries such as Kenya, South Africa, Nigeria, Egypt, and Morocco.
The move, discussed during a high-level meeting in Changsha, aims to promote quality African exports to China and level the playing field for more industrialized African economies. To protect LDCs from being outcompeted, China also pledged targeted support measures, including marketing assistance and training. Analysts believe the agreement could reduce the continent's growing trade deficit with China, which stood at $62 billion last year. The announcement comes as part of China’s broader $50 billion funding commitment to Africa made during a Beijing summit in 2024.
The euro surged to its highest level in nearly four years against the U.S. dollar, as global investors turned to safe-haven assets amid growing geopolitical tensions and uncertainty surrounding the U.S.-China trade deal.
For years, companies have navigated stringent U.S. data requirements for sensitive exports. Now, in a significant turn, China is implementing a similar system for its critical rare earth minerals, asking Western firms for proprietary business information and signaling a new global standard.
The Chinese government has announced it will grant zero-tariff treatment for 100% of tariff lines to 53 African countries with which it has diplomatic relations.
Germany has welcomed the rare-earth trade truce between China and the U.S., calling it a positive step that could inspire similar progress in EU-U.S. talks.
In response to mounting backlash over delayed payments and a deepening price war, major Chinese automakers including BYD, Chery, Geely, SAIC, BAIC, Xpeng, and Xiaomi have pledged to pay suppliers within 60 days, aligning with new government rules that came into effect on June 1.
The Dutch caretaker government has expressed support for NATO’s proposed 5% GDP defence spending target, citing rising security threats as justification.
U.S. President Donald Trump confirmed he and his team were aware of Israel’s plans to strike Iran, calling the operation “very successful.”
Tensions flared up in the Middle East as tensions between Iran and Israel have escalated to the point where the stakes cannot be any higher.
Israel’s military is bracing for a long-term conflict, with IDF officials warning of expected Iranian retaliation and ongoing operations in Gaza.
Iranian President Masoud Pezeshkian has called for national unity and urged citizens to trust the government following Israel’s strikes on Iranian territory.
Start your day informed with AnewZ Morning Brief: here are the top news stories for June 8th, covering the latest developments you need to know.
Presidential candidate Miguel Uribe Turbay is in critical condition after being shot three times — including twice in the head — during a campaign event in Bogotá.
Pakistan will begin its first freight train service to Russia from Lahore on June 22. The route is part of the INSTC and aims to connect Pakistan's rail network with Central Asia, establishing a new trade corridor via Iran, Turkmenistan, and Kazakhstan.
Kazakhstan and the UK are strengthening defense ties with a new Military Cooperation Plan, focusing on peacekeeping and military education.
A 30-year-old woman was shot by police in Munich on Saturday evening after stabbing two people at Theresienwiese, a central park best known for hosting Oktoberfest.
The Dutch caretaker government has expressed support for NATO’s proposed 5% GDP defence spending target, citing rising security threats as justification.
U.S. President Donald Trump confirmed he and his team were aware of Israel’s plans to strike Iran, calling the operation “very successful.”
Israel’s military is bracing for a long-term conflict, with IDF officials warning of expected Iranian retaliation and ongoing operations in Gaza.
U.S. President Donald Trump has urged Iran to reach a deal on its nuclear program, warning that more violence could follow after Israel’s latest strikes on Iranian targets.
A Hezbollah official says the group will not act independently in response to Israeli strikes on Iran, expressing solidarity with Tehran but stopping short of direct retaliation.
The Dutch caretaker government has expressed support for NATO’s proposed 5% GDP defence spending target, citing rising security threats as justification.
U.S. President Donald Trump confirmed he and his team were aware of Israel’s plans to strike Iran, calling the operation “very successful.”
Tensions flared up in the Middle East as tensions between Iran and Israel have escalated to the point where the stakes cannot be any higher.
Israel’s military is bracing for a long-term conflict, with IDF officials warning of expected Iranian retaliation and ongoing operations in Gaza.
Iranian President Masoud Pezeshkian has called for national unity and urged citizens to trust the government following Israel’s strikes on Iranian territory.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment