The US, Mexico and Canada have agreed to a deal to replace the North American Free Trade Agreement (NAFTA), after 11th-hour talks between Ottawa and Washington resulted in a compromise and a new name for the trade pact.
The European Union has slapped countervailing tariffs on imports of subsidized biodiesel from Indonesia. The southeast Asian country has threatened to retaliate but experts say counter tariffs could be self-destructive.
Africa is inching closer to economic integration with the entry into force of a continent-wide free trade zone. However, many hurdles remain before Africa can deliver on the promise of 1.2 billion person market.
The free trade deal is the EU's first with a member of the Association of South-East Asian Nations (ASEAN). The European Parliament's approval will clear the path for the deal to come into force as early as this year.
The US has dropped steel and aluminum tariffs on Canada and Mexico. The tariffs had stood for just under a year and were part of a bitter trade dispute between the North American trading partners.
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