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Iran's Minister of Industry, Mining and Trade Abbas Aliabadi declared that the goal of increasing bilateral trade with Pakistan to $10 billion is fully achievable. He spoke at a joint press conference, highlighting progress in economic cooperation.
Iranian Minister of Industry, Mining and Trade Mohammad Atabak held bilateral talks with Tajikistan's industry minister and Uzbekistan's investment minister during a regional tour. The discussions focused on boosting industrial, trade and investment ties. The officials agreed to create an intergovernmental committee with Tajikistan and explored increased Iranian investment in Uzbekistan.
Japan's seafood exports reached a record 423.1 billion yen in 2025, up 17.2% year-on-year, marking the first time exports surpassed 400 billion yen. The growth was driven by government trade promotions amid declining domestic demand, with scallops, salmon, and shrimp leading exports.
Turkish Foreign Minister Hakan Fidan visited Indonesia on June 2 to strengthen defense, energy, and technology cooperation, targeting $10 billion in bilateral trade. The two countries also discussed joint defense projects, AI, and the halal sector, reflecting warm ties and shared geopolitical goals.
Canada has sent a letter to the U.S. and Mexico proposing a 16-year extension of the USMCA trade deal while seeking parallel negotiations on sectoral tariffs. The move comes ahead of a meeting between Canadian and U.S. trade negotiators on Tuesday, amid criticism that Canada has been slow to engage in the review process. If all three countries do not agree to an extension, the deal will shift to an annual review mechanism until 2036.
The Trump administration has proposed a new 25% tariff on imports from Brazil, accusing the country of unfair trade practices related to deforestation, digital trade, and agreements with Mexico and India. The tariff would be imposed under Section 301 of U.S. trade policy, with a public comment period beginning Thursday.
US Defense Secretary Pete Hegseth said US-China relations are now better than in many years under the Trump administration, highlighting progress in trade, security, and strategic dialogue. The remarks come amid increased high-level exchanges, though analysts caution that challenges like the South China Sea and Taiwan persist.
Canadian Prime Minister Mark Carney called for a new partnership with the U.S. to 'help make America great again,' emphasizing the need for a true partnership amid global competition. He highlighted Canada's efforts to diversify trade while asserting that a strong Canada benefits the U.S.
The US Senate confirmed Frank Garcia, a veteran naval officer, as Assistant Secretary of State for African Affairs, ending a more than year-long vacancy. Garcia, who served 28 years in the Navy and spent 15 years on the House Intelligence Committee, outlined a 'trade, not aid' policy shift. His appointment underscores US efforts to counter Chinese influence in Africa, highlighted by support for the Lobito Corridor project.
