trade

Published on
19/03/2026 – 10:44 GMT+1

The European Parliament’s trade committee agreed Thursday to cut EU tariffs on US goods to zero, as set out under the EU–US agreement struck in July 2025 after multiple delays over tensions with the Trump administration.

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EU Lawmakers had resisted for weeks implementing the deal signed by EU Commission’s President Ursula von der Leyen and US President Donald Trump last summer, following threats over Greenland and fresh tariffs imposed by Washington on EU goods after a pivotal February ruling by the US Supreme Court ruled illegal the 2025 US tariffs.

On Thursday, the committee adopted a legislation by 29 votes in favour, paving the way to eliminate EU duties on most US industrial goods as agreed in the Turnberry deal.

The lopsided agreement, clinched after weeks of trade tensions triggered by the White House’s nationalist trade agenda, imposes 15% US tariffs on EU goods while the bloc agreed to scrap its own duties and ramp up investment in the US.

Negotiation with capitals

Thursday’s vote opens the door to full approval by the European Parliament. However, adoption may slip to April or May as EU lawmakers still need to negotiate implementing legislation with EU member states.

Amendments introduced by MEPs could complicate talks with capitals, including a “sunset” clause that would reinstate EU tariffs after 18 months if the agreement is not renewed, and a so-called “sunrise clause” making tariff cuts conditional on Washington meeting its commitments.

Lawmakers unfroze the deal on Tuesday following US pressure and calls from the European Commission to move ahead.

They had sought clarity after the White House imposed fresh duties following the ruling of US top judges. New investigations into EU goods launched last week by Washington also raised concerns among MEPs, who called for predictability for European businesses.

US officials, meanwhile, have grown increasingly impatient after repeatedly assuring EU counterparts they would stick to the deal, which also spares sectors such as EU aerospace, if the bloc does the same.

“EU tariffs on US goods haven’t changed,” U.S. ambassador to the EU Andrew Puzder said on X on Tuesday, adding: “We understand that the EU must follow its process. But we’re hopeful that, after 6 and a half months, the time has come – and we’ve respectfully requested that – the EU finalize the deal so we can mutually unlock the potential for positive collaboration – for the betterment of our economies and our joint security.”

Mérida, March 16, 2026 (venezuelanalysis.com) – Venezuelan and Colombian high-level delegations met at the Miraflores Palace in Caracas on Friday, March 13, to advance a strategic roadmap for binational integration. 

The summit, which focused on bilateral trade, energy, and security, culminated in the announcement of Venezuela’s first-ever export of liquefied petroleum gas (LPG) to its western neighbor.

Acting President Delcy Rodríguez led the Venezuelan delegation in the talks, overseeing a satellite broadcast of the first trucks from state oil company PDVSA carrying butane gas across the Simón Bolívar International Bridge from Táchira to Norte de Santander.

“This is the first step… the first LPG export from Venezuela to Colombia,” Rodríguez stated to reporters, characterizing the shipment as a symbol of the “Bolivarian spirit” of integration.

Beyond the immediate truck shipments, officials announced plans to revitalize the Antonio Ricaurte transnational gas pipeline. The project aims to facilitate the direct export of Venezuelan natural gas to Colombian markets, a move described by both governments as essential for regional energy security. 

However, Colombian President Gustavo Petro noted via social media that full interconnection remains contingent on the lifting of US sanctions given the need for infrastructure repair works. For her part, Rodríguez reiterated calls for the Trump administration to remove unilateral coercive measures against the Caribbean nation.

“Unilateral coercive measures against the Venezuelan people affect the peoples of Latin America,” she said.

The 225-kilometer Ricaurte pipeline was completed in 2007 and was initially used for Colombian gas shipments to Venezuela. Plans to reverse the flow beginning in 2016 were hampered by US sanctions.

The Caracas summit also saw delegations review the recovery of commercial ties since the reopening of the border in 2022. According to figures shared during the meeting, binational trade has grown from US $220 million in 2020 to over $1.135 billion at the close of 2024.

To sustain this momentum, officials announced that the Administrative Commission of the Trade Agreement will be formally installed on March 18. The agency’s agenda will focus on achieving “zero tariffs” for specific goods and promoting binational tourism. 

The Colombian delegation also emphasized the importance of the Monómeros petrochemical company, noting that its operation at full capacity is vital for Colombia’s food security. The agrochemical producer was placed under the control of the US-backed Venezuelan opposition by former Colombian President Iván Duque. The company was plagued by corruption scandals before being returned to the Venezuelan government’s control in 2022.

Monómeros, a major supplier of fertilizer for Colombian potato, coffee and palm oil producers, remains restricted by US sanctions, with Venezuelan plans to sell the company to the Colombian state contingent on US Treasury approval.

The two countries’ delegations likewise addressed joint security concerns during the Friday talks, activating an immediate coordination mechanism for sharing military and police intelligence. 

The stated objective is to dismantle drug trafficking networks and counter irregular armed groups operating along the 2,200-kilometer border region. Petro described the goal as a the creation of a “Binational Zone of Peace,” emphasizing the importance of integrated military efforts to protect the territory.

The Caracas summit took place following the suspension of a planned meeting between Rodríguez and Petro at the Atanasio Girardot Bridge on Friday due to “force majeure.” Colombian outlets reported security concerns but offered no specifics.

Despite the setback, the Venezuelan government reaffirmed that the presidential invitation remains open and that the working groups at Miraflores had secured the “roadmap” for the coming months. 

Colombian Foreign Minister Rosa Villavicencio, who led the Petro government’s delegation, praised the Caracas summit as a “great success” and vowed that “no one can split the Colombian and Venezuelan peoples” due to their shared history.

In the wake of the meeting with Colombian counterparts, Rodríguez announced the appointment of Admiral Orlando Maniglia as the new Venezuelan Ambassador to Colombia. Maniglia, who previously served as Minister of Defense and Ambassador to Germany, will replace Carlos Eduardo Martínez.

The two countries’ integration agenda will continue with the meeting of a bilateral commission on April 23 and 24 in Maracaibo, Zulia state. The upcoming summit will focus on migration, citizen rights, and the facilitation of free circulation across the border.

Edited by Ricardo Vaz in Caracas.

March 15 (UPI) — Israel said it launched a wave of airstrikes on Iran on Sunday as Iran carried out its own attacks on U.S. military sites and against U.S. allies in the Gulf region at large.

The Israeli military said its airstrike hit the Hamedan area of western Iran, hitting multiple military headquarters, The Times of Israel reported. The Israeli military said it plans to expand its attacks on western and central Iran “with the aim of broadly and systematically damaging the regime’s command and control capabilities.”

Israeli officials, meanwhile, said at least five people in the country were injured Sunday by Iranian missiles. Iran’s state-run Mehr news agency reported that the Iranian military has pledged to “pursue and kill” Israeli Prime Minister Benjamin Netanyahu “with force.”

The United Arab Emirates said it has seen a drop in Iranian attacks within its borders. The defense ministry said it intercepted four ballistic missiles and six drones Sunday.

Since the start of the war, it has faced more than 1,900 attacks by Iran.

Bloomberg reported that a key oil port on the UAE’s east coast — Fujairah — was back in operation Sunday after it was targeted by an Iranian drone Saturday. The port is about 70 nautical miles away from the Strait of Hormuz, which Iran closed earlier in the month to put pressure on its enemies’ abilities to transport oil. About one-fifth of the world’s oil passes through the strait.

Fujairah is situated at one end of a pipeline that allows the UAE to bypass use of the Strait of Hormuz entirely. The site exported an average of more than 1.7 million barrels of crude and refined fuels per day in 2025, about 1.7% of the world’s demand, The Guardian reported.

Officials said they intercepted a drone attack near the site, causing a fire there briefly.

British Energy Secretary Ed Miliband said his country was examining ways to reopen the Strait of Hormuz and keep oil flowing. In an appearance on Sky News’ Sunday Morning with Trevor Phillips, Miliband said Britain was in talks with allies.

“There’s different ways in which we can make maritime shipping possible. We are intensively looking with our allies at what can be done, because it’s so important that we get the strait reopened.”

Caracas, March 14, 2026 (venezuelanalysis.com) – Venezuelan workers, activists, and trade union organizers held marches in several cities on Thursday to demand wage increases and respect for labor rights.

A coalition of labor organizations staged protests in Caracas and over 25 other cities across the country. In the Venezuelan capital, around 1,000 demonstrators marched from Plaza Morelos and broke through a police cordon to reach the National Assembly in the city center.

“Mobilizations like the one we had today will continue and grow until the government changes its salary policies,” José Gregorio Afonso, president of the Central University of Venezuela (UCV) professors’ association, stated. “We believe the economic conditions allow for the establishment of a minimum wage as determined by the Constitution and the Labor Law.”

Afonso added that the Constitution mandates the government adjust the minimum wage at least once a year to keep up with inflation, but the last increase was in 2022. He likewise pointed to recent official figures of economic growth and prospects of increased oil revenues.

Thursday’s rally consisted largely of education sector trade unions, as well as public sector retirees. A commission met with a group of legislators at the end of the march to deliver a list of 17 demands signed by over 200 trade unions. 

A similar document was delivered to the Labor Ministry following prior nationwide rallies on February 26. The labor organizations’ demands include raising the minimum wage in accordance with the Constitution and labor legislation, the release of workers and trade unionists allegedly arrested for defending labor rights, and the repeal of statutes such as the 2792 Memorandum that suspended several collective bargaining rights.

Activists have also voiced opposition to plans to implement a pro-business reform of the country’s Organic Law of Labor and Workers (LOTTT) that would cut benefits, social security contributions, and other employer responsibilities. 

The historic 2012 law, approved by former President Hugo Chávez, prohibits unfair dismissal and outsourcing, enshrines the world’s third-longest maternity leave, guarantees the right to work for both women and people with disabilities, and extends retirement pensions to all workers, including full-time mothers and the self-employed.

Later on Thursday, the ruling Socialist Party (PSUV) held its own march in Caracas along the same route, with spokespeople urging the defense of the country’s peace and sovereignty, as well as calling for the release of kidnapped President Nicolás Maduro and First Lady Cilia Flores.

Labor Minister Eduardo Piñate told reporters that the rally was in “firm backing” of the Maduro and Rodríguez government’s labor policies.

Gov’t increases bonus amid salary debates

On Friday, unofficial channels reported that the acting Rodríguez administration had raised the monthly “economic war bonus” by 25 percent, from US $120 to $150. Coupled with a $40 food bonus, the move brings the monthly income floor for public sector workers to $190. The amount is paid in bolívars at the official exchange rate.

Venezuelan government officials have not commented on the increase. It is not presently known whether public sector retirees and pensioners, who receive $70 and $50 economic war bonuses, respectively, will benefit from similar hikes.

Venezuela’s monthly minimum wage was set at 130 bolívars (BsD) in March 2022 and has not been adjusted since. At the time, 130 BsD amounted to around US $30, but with the Venezuelan currency’s devaluation, it is now equivalent to $0.29. With the Venezuelan economy heavily battered by US sanctions, the Nicolás Maduro government prioritized non-wage bonuses as the main income source for workers and pensioners.

Trade unions and leftist organizations have criticized the policy for violating the country’s labor laws and favoring business sector interests by reducing labor costs and making dismissals more flexible.

In recent weeks, trade union coalitions have put forward proposals for a minimum wage adjustment. Center-right and right-wing alliances such as the Independent Union Alliance (ASI) and the Confederation of Venezuelan Workers (CTV) have urged authorities to set the monthly minimum salary at $200 before pegging it to a cost-of-living index.

For its part, the government-aligned Bolivarian Socialist Union of Workers (CBST) proposed that the minimum wage be raised by $50 each quarter, though it did not specify a time frame. The CBST added that, should the government deem the salary increase unfeasible, it should implement a similar increase in non-wage bonuses.

Liberal economists, including Asdrúbal Oliveros and José Guerra, have argued that minimum wage increases beyond $100 and $150 a month, respectively, might place too high a burden on the state’s budget. At the same time, business sector representatives have called for a flexibilization of labor protections and benefits.

Leftist economists, including former PSUV congressman Tony Boza, Pasqualina Curcio, and Juan Carlos Valdez, have proposed raising wages and pegging them to inflation as is currently done by private banks with interest rates.

Edited by Lucas Koerner in Fusagasugá, Colombia.

March 13 (Asia Today) — South Korean Prime Minister Kim Min-seok met U.S. Vice President J.D. Vance at the White House in Washington on Wednesday to discuss bilateral investment, trade issues and developments on the Korean Peninsula.

The meeting came about 50 days after the two leaders first met during Kim’s visit to Washington in January.

Kim highlighted the passage of a special law supporting South Korean investment in the United States, which cleared the National Assembly earlier this week.

He said the legislation demonstrates Seoul’s commitment to implementing bilateral investment agreements and could contribute to revitalizing U.S. manufacturing and job creation.

Kim added that the measure could also accelerate implementation of agreements outlined in a joint fact sheet between the two countries, including cooperation in areas such as nuclear-powered submarines, nuclear energy and shipbuilding.

Vance welcomed the legislation, saying it provides a legal foundation for implementing investment agreements between the two countries, according to South Korea’s Prime Minister’s Office.

The two sides also discussed cooperation in critical minerals and issues related to non-tariff trade barriers.

Kim explained Seoul’s recent decision to allow U.S. companies to export mapping data from South Korea, describing it as a forward-looking step aimed at strengthening cooperation.

Vance praised the move and said the two countries should continue consultations on non-tariff trade barriers.

Kim also said issues previously raised by Vance during their January meeting – including concerns related to the e-commerce company Coupang and certain religious matters – are now being handled in a stable manner.

Vance said the United States respects South Korea’s domestic legal framework and thanked Seoul for continuing to communicate with Washington on issues of interest to the United States.

The leaders also exchanged views on the Korean Peninsula and reaffirmed that the door remains open for dialogue with North Korea.

They agreed to maintain close coordination on developments related to the peninsula.

South Korea’s Prime Minister’s Office said the meeting helped deepen personal trust between Kim and Vance and is expected to strengthen communication on key bilateral issues.

The office’s statement did not mention whether the two discussed the Section 301 trade investigation launched this week by the Office of the United States Trade Representative targeting several major trading partners, including South Korea.

However, the issue of non-tariff barriers raised during the meeting could be related to that investigation.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260313010003892

Caracas, March 13, 2026 (venezuelanalysis.com) – Venezuelan Acting President Delcy Rodríguez welcomed on Wednesday the formal recognition granted by the United States government to her administration as the South American country’s “sole” and legitimate authority.

Rodríguez argued that Washington’s decision goes beyond any individual figure or government. 

“It is not recognition of a person or a government; it is recognition of a country so that it is able to recover its life,” she said during a televised broadcast, referring to the impact of wide-reaching US unilateral coercive measures imposed since 2015.

The Venezuelan leader affirmed that the diplomatic move could help advance “national unity” and contribute to the “normalization” of the country’s political, economic, and social life. “What matters to me is that this can bring a process of reordering and normalization,” she added.

The recognition was communicated by Manhattan US Attorney Jay Clayton in a “statement of interest” addressed to federal Judge Sarah Netburn. Clayton is likewise heading the prosecution in the US Justice Department’s case against Venezuelan President Nicolás Maduro.

Maduro was kidnapped by US special forces alongside First Lady Cilia Flores on January 3 during a military operation. The pair has pleaded not guilty to charges including drug trafficking conspiracy and will face a hearing on March 26. US officials have not provided evidence tying Venezuelan high-ranking officials to narcotics activities, while specialized reports have consistently found Venezuela to play a marginal role in global drug trafficking.

Clayton’s missive referenced a letter from State Department official Michael Kozak which identified Rodríguez as Venezuela’s “sole Head of State.” Kozak’s letter expressed the Trump administration’s argument that the recognition will help advance US interests in the Caribbean nation.

Trump publicly acknowledged Washington’s recognition of the Venezuelan government for the first time during the Shield of the Americas Summit on March 7. The White House argued that its stance would contribute to Venezuelan stability and economic recovery, as well as create the conditions for “a peaceful transition toward a democratically elected government.”

Caracas and Washington reestablished diplomatic ties on March 5 and have taken steps to reopen their respective embassies and consulates. The Maduro government severed ties with the first Trump administration in 2019 when the latter recognized then–National Assembly president Juan Guaidó as Venezuela’s “interim president.”

Kozak reiterated in his letter that since January 23, 2019, the US has not recognized Maduro as Venezuela’s head of state and that this position had not changed. 

“Maduro is an accused narco-terrorist awaiting trial in a US federal court for his crimes,” the document read. The Venezuelan president’s defense team is expected to argue that Maduro should be entitled to immunity from prosecution as a sitting head of state.

Washington’s formal recognition of the acting government in Caracas could also have implications for Venezuelan assets abroad. Since 2019, several bank accounts and US-based Venezuelan refiner CITGO have been frozen or under the control of the US-backed opposition.

The White House’s move will also pave the way for renegotiations surrounding Venezuela’s sizable sovereign debt, with creditors eager for a potential windfall after buying defaulted bonds at very depressed prices.

While Clayton’s address identified Rodríguez as the only person “able to take action on behalf of Venezuela,” US authorities have not clarified whether the Venezuelan government will retake control of its US-based assets.

In addition, the Justice Department attorney declined to take a position regarding “which counsel is authorized to represent certain Venezuelan state-owned entities.” On Thursday, Judge Netburn requested further clarification from the administration regarding the representation of Venezuelan interests before US courts before March 26.

In her Wednesday address, Rodríguez went on to acknowledge “daily exchanges” with US counterparts and expressed “gratefulness” for the reestablishment of trade relations. The acting president stated that Venezuela has imported medical equipment and medicines from US companies in recent weeks.

Since early 2026, the Trump administration taken direct control of revenues generated by Venezuelan oil exports, depositing funds into accounts held by the US Treasury. Around a quarter of an initial US $2 billion crude sale agreement has reportedly been returned to Caracas.

Recently issued US licenses allowing transactions in the Venezuelan oil and mining sectors likewise mandate that proceeds be deposited in Treasury-run accounts.

US officials have claimed that Venezuelan authorities need to submit a “budget request” to access the country’s funds and will only be allowed to import goods and services from US manufacturers.

Edited and with additional reporting by Ricardo Vaz in Caracas.

EU lawmakers in Brussels are worried that the bloc is drifting into the crosshairs of US domestic politics, as the White House launched new trade investigations into EU goods accusing the European Union is “implementing close to zero” of trade commitments.

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Next week could prove decisive for the EU–US trade deal struck last summer.

Washington has stepped up pressure on the EU in recent days to implement the agreement cut last summer cut between the head of the European Commission Ursula von der Leyen and President Donald Trump, tripling tariffs on the EU.

Still, MEPs have kept the implementation process, which also includes investment pledges from the Europeans in the US, frozen, seeking clarity after the Supreme Court of the United States ruled in February that US tariffs imposed in 2025 were illegal.

The fate of the deal remains uncertain after the White House launched new investigations into EU products this week that could lead to tariffs exceeding the 15% ceiling agreed under the pact.

“It is domestic politics and the worst-case scenario has happened: we got involved,” Croatian MEP Željana Zovko, lead negotiator for the European People’s Party, told Euronews.

She added: “We were waiting for the Supreme Court’s decision but now of course this administration will do its utmost to do it its own way.”

In the days following the court’s ruling, the US administration has looked for new legal grounds for tariffs and invoked Section 122 to impose fresh duties of 10% on EU goods, on top of the 4.8% tariffs already in place under most-favored nation regime.

The provision allows temporary duties for a maximum of 150 days, after which the US Congress would need to agree an extension. The Supreme Court suggested in its initial ruling that the President had exceeded his powers under emergency grounds.

As Washington looks for a way to make the tariff salvo permanent, it is also increasing the pressure on allies by opening new investigations into trading partners including the EU over alleged unfair trade practices. China and India were also targeted.

The probes could pave the way for tariffs above the 15% ceiling agreed in the deal struck in July 2025 by Ursula von der Leyen and Donald Trump in Turnberry, Scotland.

Next week will be pivotal for the EU-US deal

“Now uncertainty is increasing even more for our businesses,” Zovko said.

Since the court ruling, the EU has sought clarity from Washington on whether the Turnberry agreement signed last year still stands or has been broken.

US officials assured EU trade chief Maroš Šefčovič they would stick to the deal, though they have not detailed how the 10% tariffs after the court ruling will be replaced in the long-term. In return, the US expects the EU to implement the agreement fully and quickly.

US Trade Representative Jamieson Greer raised the temperature on Wednesday, lashing at the Europeans on the basis that “the EU has done approximately zero percent of what they were supposed to do for their trade deal with us.”

This week’s investigations should be taken seriously, German MEP Bernd Lange (S&D) told Euronews, despite the erratic moves by the US administration since the court ruling.

“Section 301 will allow the US to differentiate between countries and therefore add pressure to each of them,” he said.

Next week could be pivotal for the EU–US trade deal.

Italian MEP Brando Benifei (S&D) will travel to Washington hoping to meet Greer. He may be joined by Lange, the chair of the EU trade committee, on Monday although a decision has not been made yet.

The trip comes as negotiators in the European Parliament must decide whether to resume work on the agreement or postpone the vote once more. A vote is required to cut EU duties on US goods to zero, as foreseen in the Turnberry deal.

But political groups remain divided.

“When I read what the socialists are saying, I’m losing hope that we will have a vote, despite reassurance given by Iratxe García Pérez [Spanish MEP, chair of the S&D] and Bernd Lange,” a source at the EPP told Euronews.

Benifei said the EU needs a clear political signal from Washington that it will stick to the deal, otherwise “there is no way we can vote on the file.”

HENDERSON, Nev. — The Las Vegas Raiders said Baltimore has backed out of the trade that was supposed to send star pass rusher Maxx Crosby to the Ravens for two first-round draft picks.

The deal was agreed to last Friday but couldn’t be finalized until the start of the league year on Wednesday. The Raiders announced Tuesday that Baltimore backed out of the deal. The team said it had no further comment.

The trade was called off after Crosby didn’t pass his physical, according to multiple reports.

Crosby underwent surgery in January to repair a torn meniscus in his left knee and would have needed to pass a physical for the deal to be finalized. He missed the final two games of the season because the injury despite wanting to play through it at the time.

Crosby said on a recent appearance on “The Herd with Colin Cowherd” that he was “ahead of schedule” in his rehab.

The addition of Crosby was supposed to be the piece to help lift the Ravens over the top, with the draft picks expected to be part of a rebuilding effort for the Raiders.

The 28-year-old Crosby had 10 sacks and a career-high 28 tackles for loss last season, and has reached double- digit sacks four times in his seven seasons.

Baltimore, which has a first-year coach in Jesse Minter, is in a win-now mode with three-time All-Pro quarterback Lamar Jackson. Crosby would have been a significant boost for a defense that finished tied for 28th in the league in sacks with only 30 last season.

The Raiders own the No. 1 pick in the draft and are widely expected to select Indiana quarterback Fernando Mendoza. Las Vegas has been extremely aggressive at the start of free agency, agreeing to deals with several new players and agreeing to trade quarterback Geno Smith to the New York Jets, according to several people familiar with the moves who spoke on condition of anonymity because the deals can’t be finalized until Wednesday.

The biggest move the Raiders made was agreeing to a deal with three-time Pro Bowl center Tyler Linderbaum. He gets a three-year, $81 million contract with $60 million guaranteed to leave Baltimore and join Las Vegas.