Ecuador begins withdrawal from regional SUCRE payment system. The move follows an executive decree by President Daniel Noboa after the National Assembly approved the exit on June 9.

Hormuz closure strands nearly 1,200 cargo ships with $125bn in goods, FT reports — major disruption to global trade through critical maritime chokepoint

The closure of the Strait of Hormuz has stranded nearly 1,200 cargo ships carrying approximately $125 billion worth of goods, according to the Financial Times.

China restricts critical mineral shipments to Japan, hurting firms and prompting calls for PM Sanae Takaichi to seek diplomatic off-ramp with Beijing

China is choking shipments of some critical minerals to Japan, a slowdown that’s hurting companies and prompting calls for Prime Minister Sanae Takaichi to find a diplomatic off-ramp with Beijing

Mexico seeks 16-year USMCA extension at July 1 trilateral meeting

Mexico will formally propose a 16-year extension of the United States-Mexico-Canada Agreement (USMCA) at a virtual trilateral meeting on July 1, with President Claudia Sheinbaum set to sign the request, Economy Minister Marcelo Ebrard said.

EU's new levy on Chinese online imports takes effect next week, raising consumer shopping costs and adding another layer of trade friction between the two economies

EU consumers will face higher online shopping costs next week when a new levy primarily targeting China takes effect, adding a layer of trade friction between the two economies.