As the new year kicks off, both importers and exporters are navigating rough seas, with fresh concerns about rising trade barriers and less government support. Importers wrapped up the previous year on edge, fearing the tightening grip of non-tariff measures, while exporters faced a tougher outlook for 2025, grappling with a more challenging global trade environment.
Last week, the government’s decision to impose minimum import prices on soda ash and bring low-ash metallurgical coke under import licensing created a ripple of concern in the trade community. The move is part of a broader trend, with the Director General of Trade Remedies (DGTR) introducing various restrictions on imports of several key materials, such as polyvinyl chloride resin, soft ferrite cores, and rubber vulcanization chemical accelerators. This follows earlier actions to bring additional products under import licensing, signaling a more protective stance on foreign goods entering the market.
For exporters, the horizon looks uncertain as they face a double whammy of a more volatile international trade environment and reduced government support. This shift suggests that both sides of the trade equation will need to brace for more hurdles ahead, as the global landscape continues to shift under the weight of protectionist policies and economic challenges.
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