GTA Monthly Roundup: November 2025

The Global Trade Alert team documented 550 trade and industrial policy developments during November 2025. Four trends emerge:

1. The US de-escalated its trade stance, including with China. The White House exempted multiple agricultural products from “reciprocal tariffs”. Following new trade talks, Washington reduced fentanyl-related tariffs on Chinese goods from 20% to 10%. It also suspended additional "reciprocal tariffs" until November 2026 and paused Section 301 actions targeting China's maritime and logistics sectors. China reciprocated by removing additional tariffs on 740 tariff lines covering US agricultural products, suspending stricter export controls on critical materials and rare earths, and lifting similar port fees on American vessels. 

2. Washington advanced bilateral negotiations with seven jurisdictions in Europe, Asia, and Latin America. It signed framework agreements with Switzerland, Liechtenstein, Argentina, El Salvador, Ecuador, and Guatemala. These include commitments to cap cumulative tariff rates or provide MFN treatment for products unavailable domestically. A separate agreement with South Korea establishes a 15% minimum tariff framework. It also reduces Section 232 tariffs on automobiles, auto parts, and timber. All agreements are pending implementation.

3. Industrial policy regained momentum. The EU advanced frameworks for competitiveness across the bioeconomy, defence, and high-speed rail sectors. The European Investment Bank provided multiple EUR 500 million financing facilities. The UK unveiled two strategies for the critical minerals and AI sectors. The US launched the "Genesis Mission" to deploy AI supercomputers for scientific research. It provided major funding for nuclear energy restart, quantum research centres, and domestic critical materials production. India approved an INR 25'060 crore  (USD 2.4 billion) "Export Promotion Mission" and an INR 6'450 crore (USD 723 million) scheme for rare earth magnet manufacturing. Other jurisdictions, including Canada, Brazil, Qatar and South Korea, announced support programs for specific sectors.

4. Trade defence measures against China reintensified. The EU opened three countervailing probes on Chinese imports, including robot lawn mowers, pneumatic tyres, and thermal paper. Australia launched investigations into aluminium windows and doors. It also targeted welded steel mesh from China and Malaysia. India initiated cases on halo-isobutene-isoprene rubber and polyester textured yarn. South Korea opened an investigation into zinc surface-treated products. Brazil and the Eurasian Economic Union commenced anti-dumping proceedings against various Chinese goods.

The GTA Monthly Roundup provides a rapid overview of changes in import barriers, export curbs, subsidies, and related industrial policy measures. It is organised by geography, beginning with the United States, China and the European Union. The final section briefly summarises developments in further regions covered by the GTA. Links to official sources are included in the references.

The United States extended the trade truce with China and announced new bilateral deals with other jurisdictions in Asia, Europe and Latin America. Washington also continued its drug pricing agreements. The GTA team documented 98 new interventions during the last four weeks.

The Department of Commerce authorised exports of advanced semiconductors of up to 35’000 Nvidia Blackwell GB300 chips to G42 in the UAE and Humain in Saudi Arabia. The measure is subject to strict security and reporting requirements overseen by the Bureau of Industry and Security.

The Bureau of Industry and Security announced a one-year suspension of the "Affiliates Rule", which extended export end-user controls to entities owned 50% or more by listed entities or their restricted affiliates. This suspension was part of the new “Deal on Economic and Trade Relations with China” announced in early November 2025.

Also part of the deal with China, Washington lowered fentanyl-related tariffs on Chinese imports from 20% to 10% and extended the suspension of additional reciprocal tariffs until November 2026. The US also delivered a one-year suspension of Section 301 actions targeting China's maritime, logistics, and shipbuilding sectors. The pause came over a month after the US set new fees on Chinese-owned or built vessels and foreign vehicle carrier vessels. 

The White House unveiled new framework trade agreements with six other jurisdictions. In Europe, these include Switzerland and Liechtenstein. Under the Swiss framework, Washington committed to reducing the cumulative tariff rate to no higher than 15%. Previously, Switzerland was subject to an additional reciprocal tariff of 39%. Similarly, the Liechtenstein framework sets a cumulative tariff at no higher than 15%. Previously, the 15% was the additional reciprocal tariffs (on top of MFN). In Latin America, the US signed deals with Argentina, El Salvador, Ecuador, and Guatemala. These agreements call for MFN treatment for products that cannot be grown or produced domestically in the US. All of these agreements are still pending implementation.

The US published new commitments under the “U.S.-Korea Strategic Trade and Investment”. These include establishing a 15% minimum tariff framework for Korean imports while providing exemptions for certain products. It also reduces existing Section 232 tariffs on Korean automobiles, auto parts, and timber to 15%, and caps future Section 232 tariffs at 15%. 

The White House excluded certain agricultural products from reciprocal tariffs. The exemptions cover products under tariff chapters 02, 07, 08, 09, 10, 11, 12, 14, 15, 16, 18, 19, 20, 21, 31 and 33, including meat, cereals, fruits, vegetables, coffee, tea and spices. Days later, it was also extended for the 40% additional IEEPA tariffs on Brazilian imports.

Washington launched the "Genesis Mission" to advance scientific research through AI-powered supercomputers and secure data systems. The initiative targets manufacturing, biotechnology, and nuclear energy, mandating private-sector participation through prizes and funding, workforce training, and international cooperation.

The Department of Energy closed a USD 1 billion loan to Constellation Energy for restarting the Crane Clean Energy Centre. The 835 MW nuclear plant in Pennsylvania ceased operations in 2019. Moreover, the Department granted USD 625 million for five National Quantum Information Science (QIS) Research Centres. The renewed centres include facilities at Brookhaven, Fermi, Argonne, Berkeley and Oak Ridge National Laboratories. It also granted up to USD 275 million in funding to boost domestic critical material production. This will be done by helping industrial facilities recover valuable materials from existing processes and waste streams. 

The White House announced drug pricing agreements with Eli Lilly and Novo Nordisk. These provide the companies with three years of tariff relief from the future Section 232 pharmaceutical tariffs. In exchange, the companies agreed to implement MFN pricing for certain drugs, aligning US prices with those paid in other developed nations, and to make investments in their US manufacturing capacity.

The Federal Transit Administration (FTA) allocated a series of grants to support transport projects. The support is subject to Buy America requirements, mandating that all materials, products, and the buses themselves be manufactured in the United States. Among them are USD 121 million to the Chicago Transit Authority (CTA) and USD 100 million for the Metropolitan Transit Authority of Harris County (METRO) in Texas. 

With regard to sanctions, the Treasury Department imposed financial sanctions on several entities supporting the Iranian transnational ballistic missile and drone procurement networks. The entities were located in Iran, Türkiye, China, Germany, Hong Kong, India, Ukraine, and the United Arab Emirates. Similar restrictions were placed on entities from Thailand and Myanmar for supporting cyber scam operations targeting Americans.

During November 2025, China reciprocated the US easing measures following bilateral negotiations. These centred on export and import controls and corporate blacklisting. The GTA team documented 46 new interventions.

Following new negotiations with the US,  China suspended several restrictions against the US for one year, until November 2026. Specifically, the Ministry of Commerce (MOFCOM) suspended stricter export controls on dual-use items such as gallium, germanium, antimony and superhard materials. The Ministry also suspended export control measures on rare earth-related technologies. This includes technologies for rare earth mining, smelting, separation, and magnet manufacturing, and others. In addition, MOFCOM suspended the transfer prohibition rare-earth technologies to foreign entities within China, including through intellectual property licensing and investment. Additionally, Beijing suspended licensing requirements for foreign entities exporting Chinese-origin rare earth materials, including heavy rare earth elements such as dysprosium and scandium and their alloys and oxides. 

The suspension also applied to Chinese export controls on all trading partners that were announced in October 2025. These include export licenses for rare earth equipment and raw materials, medium and heavy rare earth elements, items related to superhard materials, and lithium-battery and artificial graphite negative-electrode materials. The entry into force of all these export licenses was delayed until 10 November 2026. 

MOFCOM removed 15 US defence and technology companies from China's Dual-Use Export Control List, including Skydio, Shield AI, and General Atomics Aeronautical Systems. Furthermore, it removed ten US companies from the Unreliable Entity List, lifting prohibitions on export activities related to China. 

Beijing introduced export licensing requirements for 13 precursor chemicals to the US, Canada, and Mexico. According to various sources, these chemicals are used in producing opioids and fentanyl. 

Earlier in November, Beijing eased export restrictions on Nexperia China, stating it would grant exemptions for exports that meet relevant criteria. This followed an October export control notice prohibiting Nexperia from exporting unspecified components manufactured in China.

To further implement the deal with the US, the State Council Tariff Commission removed additional tariffs on agricultural goods from the United States covered under 740 tariff lines. The measure removes additional duties of 10% to 15% that were imposed in March 2025. It also extended the temporary reduction to 10% additional duty on US goods until 10 November 2026. In May 2025, China first reduced the duty imposed in response to the US reciprocal tariff from 125% to 10%. 

MOFCOM suspended the import ban on genetic sequencers produced by the US company Illumina. The removal of ten US companies from the Unreliable Entity List lifted prohibitions on engaging in import activities. In addition, the Ministry of Transport suspended special port fees on vessels associated with the United States for one year. The suspension also includes halting the investigation into the US Section 301 measures. 

By contrast, the Chinese government reportedly issued guidelines banning foreign-made AI chips in state-funded data centre projects. Projects less than 30% complete must remove installed foreign chips or cancel planned purchases. Projects in more advanced stages will reportedly be decided case-by-case basis. 

The State Council published a notice regarding “several measures to promote the development of private investment”. The measures include increased state support through a new "policy-based financial instrument" and higher prepayment ratios (exceeding 30%) for private enterprises engaged in public procurement contracts. Beijing also adopted guidelines to “accelerate the large-scale application of new scenarios”, calling for increased state aid across multiple sectors. They promote large-scale deployment of new technologies, including AI, robotics, and the metaverse. 

At the subnational level, Fujian Province is offering up to CNY 10 million for AI-powered vertical model deployment projects and up to CNY 5 million for each AI innovation platform project. Chongqing Province rolled out several measures to support the pharmaceutical sector. These include CNY 10 million for constructing advanced pharmaceutical manufacturing platforms and for investing in research and development. 

The China Development Bank announced a CNY 30 billion loan scheme to support businesses involved in the China-Europe Railway Express. The funding covers railway corridors, border ports, logistics nodes, and related infrastructure.

China's Ministry of Transport also suspended for one year its investigation into how US Section 301 measures affect the Chinese shipping and shipbuilding sectors. The investigation was launched in October 2025 to "safeguard the security and developmental interests of China's shipping industry, shipbuilding sector, and related industrial chains and supply chains". 

MOFCOM suspended countermeasures against five US subsidiaries of Hanwha Ocean, a South Korean shipbuilding enterprise, for one year. The suspension allows Chinese organisations to resume transactions with these entities. Additionally, Beijing removed ten US companies from the Unreliable Entity List. The move lifts the ban on these aerospace, defence, maritime systems, and surveillance technology companies regarding making new investments in China.

The EU advanced both its export control framework and industrial policy during this period. Changes occurred at both supranational and national levels, with new frameworks accompanied by concrete financial support measures. The GTA team documented 46 new interventions by the EU and its member states.

The Commission updated its dual-use export control list, adding 24 new entries requiring export licences. These additions span ultrasonic atomisation processes, peptide synthesisers, CMOS integrated circuits, quantum computers, and advanced semiconductor equipment. 

At the national level, Bulgaria implemented a temporary export ban on certain petroleum products. The measure applies to all destinations, including the intra-community supplies to other EU member states. Germany lifted restrictions on arms exports to Israel, which had been in place since August 2025. The decision followed a ceasefire in Gaza that commenced in October and has since stabilised.

Brussels initiated three countervailing investigations targeting Chinese imports. The targeted products are robot lawn mowers, pneumatic tyres for motor vehicles, and lightweight thermal paper. These investigations follow applications from European industry associations concerned about unfair competition. The Commission also set provisional anti-dumping duties of up to 123% and of up to 17% on Chinese imports of phosphorus acid and adipic acid, respectively. 

The Commission unveiled "A Strategic Framework for a Competitive and Sustainable EU Bioeconomy”. The framework calls for improved venture capital access, increased EU funding through the European Competitiveness Fund and Horizon Europe, blended-finance tools, a new Bioeconomy Investment Deployment Group to coordinate public and private investment, and state aid provisions for cross-border biotech projects. Similarly, the "EU Defence Industry Transformation Roadmap" proposes the launch of a up to EUR 1 billion Fund of Funds to consolidate defence supply chains and SMEs. In early November, Brussels published a ”High-Speed Rail Action Plan” and a “Sustainable Transport Investment Plan”. The plans mandate support for rail networks' private investments, renewable fuel technologies for aviation and waterborne transport.

The European Investment Bank (EIB) provided EUR 500 million to Banco Santander for financing renewable energy projects across Europe. It also signed a EUR 500 million guarantee with Commerzbank AG to cover up to 50% of the German banks’ risk on its loans to electricity and energy infrastructure. Moreover, the EIB signed two EUR 500 million loans with Intesa Sanpaolo and the Spanish Instituto de Credito Oficial (ICO) for financing Italian and Spanish SMEs and mid-caps, respectively. Similarly, the European Investment Fund (EIF) concluded a EUR 100 million guarantee with Erste Bank Croatia and a EUR 250 million guarantee to UniCredit Bank Austria. In turn, the banks will finance innovation, digitalisation and sustainability projects in SMEs and mid-caps. 

At the national level, France's Bpifrance Assurance Export provided a guarantee covering a GBP 5 billion loan for the construction of Sizewell C nuclear power plant in England. French company EDF is an investor and supplier in the project. Germany granted EUR 1.8 billion to compensate Lausitz Energie Kraftwerke AG for early lignite plant closures. The compensation covers fixed costs, social expenses, and forgone profits. 

Spain announced EUR 700 million for strategic investments in net-zero technologies and their components. The grants will finance solar power, wind energy, battery storage, heat pumps, and hydrogen production. Madrid also launched a EUR 500 million “Climate and Infrastructure" equity instrument for investing in energy transition, sustainable transport, and digital infrastructure. Swedish company Novo Energy Production AB received EUR 201 million from the Commission, given its involvement in the "NOVO One Gigafactory". The company was selected as a beneficiary of the EU’s Innovation Fund. Italy established a EUR 219 million grant scheme for cleantech manufacturing in the Lazio region. This measure supports the production of net-zero technologies and critical raw materials until 2030.

As for chips, Czechia granted EUR 450 million to Onsemi's Silicon Carbide for its power semiconductor plant. The facility will integrate all production stages from crystal growth to finished devices.

The Netherlands suspended ministerial oversight of semiconductor producer Nexperia. The decision follows Chinese measures ensuring chip supply to Europe. Reporting obligations and court-ordered governance controls remain in place.

The GTA documented 360 new developments announced by jurisdictions outside the US, China, and the European Union in the last four weeks. Significant developments include:

Argentina eliminated the export tax for five oils and lubricating liquids under NCM 2710.19. Previously, these exports were subject to an 8% tax. Buenos Aires also agreed on a “Framework for an Agreement on Reciprocal Trade with the US”. Although Argentina has confirmed the issuance of the Joint Statement, the content of Argentina's commitments has been specified only by the US. The country reportedly committed to providing preferential market access for various US goods, including medicines, chemicals, machinery, IT products, medical devices, motor vehicles, and agricultural products, with market access for US poultry to be granted within one year. 

Australia initiated parallel anti-dumping and countervailing investigations on Chinese imports of aluminium windows and doors. Moreover, it started an anti-dumping investigation on imports of certain welded steel mesh sheets from China and Malaysia. Canberra also imposed asset-freeze sanctions on two Russian companies, Media Land and ML Cloud.

Bangladesh extended the availability of the special cash incentive of 0.3% on exports of readymade garments (RMG). The measure broadens eligibility to include RMG exporters with their own production facilities who subcontract manufacturing, whereas previously only manufacturer-exporters producing in their own factories qualified. In addition, the Bangladesh Bank announced the reintroduction of the refinancing scheme for cottage, micro, small, and medium enterprises (CMSMEs). The government did not disclose a budget increase for the scheme, originally launched in July 2022 with a budget of BDT 25’000 crore. 

Brazil’s Foreign Trade Chamber approved the use of the “Export Guarantee Fund” (FGE) as collateral for aviation fuel financing, subject to decarbonisation requirements. These requirements can be met in several ways, including by purchasing domestically produced sustainable aviation fuel (SAF). The National Bank for Economic and Social Development (BNDES) provided BRL 1.1 billion in financing for Embraer for the production and export of commercial aircraft. Regarding imports, Brasilia increased the import tariff for five metal, plastic and paper products and decreased it for certain aluminium ones until November 2026. It also initiated an anti-dumping investigation on imports of seamless carbon steel pipelines from Malaysia, India, and Thailand and on imports of purified phosphoric acid from China, Morocco, and Mexico. 

Canada’s PM Carney announced a series of measures to support the steel and softwood lumber sectors. Ottawa plans to reduce the import tariff-rate quota levels for steel products imported from all trading partners. For those partners with whom Canada has an FTA, the quota will decrease from 100% to 75% of 2024 import levels. For those without an FTA, the quote will decrease from 50% to 20% of 2024 import levels. The PM also announced the imposition of a global 25% tariff on targeted imported steel-derivative products. These new tariffs will apply to all trading partners. Finally, it unveiled the provision of CAD 500 million more to the Business Development Bank of Canada’s “Softwood Lumber Guarantee Programme”. 

Ecuador agreed on a “Framework for an Agreement on Reciprocal Trade with the US”, though only the US has publicly specified the terms. Ecuador has reportedly committed to reducing or eliminating tariffs on various US goods, including machinery, health products, agricultural products, and motor vehicles.

Egypt imposed import licenses on refined sugar for three months. The licenses will be granted by the Ministry of Supply and Internal Trade and the Ministry of Investment and Foreign Trade.

El Salvador agreed on a “Framework for an Agreement on Reciprocal Trade with the US”. Among others, El Salvador reportedly committed to "removing import restrictions on remanufactured goods" from the US and to "address and prevent (import) barriers” on US agricultural products.

The Euroasian Economic Union initiated an anti-dumping investigation on imports of truck tyres from Thailand and Vietnam. This investigation follows the application lodged by OJSC Belshina, JSC Omskshina, JSC Kordiant, and LLC Nizhnekamsk Truck Tyre Plant on behalf of the Union industry.

Guatemala agreed on a “Framework for an Agreement on Reciprocal Trade with the US”. Similar to El Salvador, the country reportedly committed to "removing import restrictions on remanufactured goods" from the US and to "address and prevent (import) barriers” on US agricultural products.

India approved the INR 25'060 crore “Export Promotion Mission” (EPM) for the period 2025-26 to 2030-31. The programme features financial and non-financial assistance, and it operates through two sub-schemes: Niryat Protsahan and Niryat Disha. While open to all sectors, the scheme will prioritise industries affected by “recent global tariff escalations”. In addition, it announced an INR 6'450 crore sales-linked incentive scheme under “Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets”. This support will be provided to facilities converting rare earth oxides to metals, metals to alloys, and alloys to finished REPMs. Delhi also approved the “Credit Guarantee Scheme for Exporters (CGSE)” for providing a 100% credit guarantee coverage for extending additional credit facilities of up to INR 20'000 crore to eligible exporters. In terms of trade defence, the country initiated anti-dumping investigations on imports of halo-isobutene-isoprene rubber from China, Singapore, and the United States and on Chinese imports of polyester textured yarn.

Iraq imposed a 25% customs duty on imported tomato paste for four years. The decision enters into force on 13 March 2026. Moreover, Baghdad increased the support rate for wheat farmers from 50% to 60% of certified seed costs. The measure forms part of the Winter Agricultural Plan 2025/2026. 

Japan’s Bank for International Cooperation (JBIC) signed a USD 360 million credit line with Petróleo Brasileiro SA (Petrobras). According to the press release, the loan aims to support Petrobras’ decarbonisation initiatives while strengthening Japan–Brazil cooperation, creating opportunities for collaboration and strengthening “Japan's economy and national security”. 

Kenya’s Agriculture and Food Authority (AFA) banned the export of macadamia nuts until February 2026. The measure was announced as a "seasonal export closure".

Malaysia exempted SK Earthon Co Ltd from paying import duties on materials and equipment used in petroleum and gas upstream operations. In addition, the country’s EXIM Bank extended a USD 70 million financing facility to Berjaya Okinawa, the Japanese subsidiary of Berjaya Land Berhad. Berjaya Land Berhad is a Malaysian conglomerate involved in property development, investment, and hospitality. The facility will support the development of the Four Seasons Resort & Private Residences Okinawa in Japan.

Mexico increased import tariffs on various sugar and related products to protect the national industry, “given the fall in international prices”. The measure affects six tariff subheadings under chapters 17, 18 and 21.

Morocco modified the support levels for certain certified cereals for the 2025/2026 agricultural campaign. It increased the support for soft wheat and barley and decreased the support for durum wheat. 

The Philippines introduced a new mechanism for revising import duties on rice in accordance with international market conditions. The new system enters into force on 1 January 2026 and will replace the previous flat duty introduced in June 2024. In addition, Manila eliminated the duty on tin-mill blackplate imports from 3% for three years. 

Qatar’s Development Bank announced the QAR 3 billion “Credit Guarantee Programme”. The measure, announced under the “National Funding Gate” (TAMKEEN) initiative, will allow banks to further lend to Qatar-based companies.

Russia introduced a temporary export ban on liquid, granulated, and lump sulfur. The measure will be in place until December 2025. 

South Africa’s International Trade Administration Commission (ITAC) removed the import license requirement for printed or illustrated postcards. The measure is an update of the country’s Prohibited and Restricted Imports and Exports List.

South Korea‘s Export–Import Bank granted USD 200 million to Solus Advanced Materials for its copper foil production facility in Canada. To tackle transnational online organised crime in Southeast Asia, the government imposed financial sanctions on several organisations. The affected entities are located in Laos, Palau, the British Virgin Islands, Cambodia, the Cayman Islands, Hong Kong, Poland, Chinese Taipei, and Singapore. In terms of trade defence, Seoul initiated an anti-dumping investigation on Chinese imports of zinc and zinc-alloy surface-treated cold-rolled products. The country also set provisional anti-dumping duties on imports of industrial robots from Japan and China. The duties ranged from 21% to 44%.  

Switzerland and Liechtenstein signed a "non-binding memorandum of understanding" with the US regarding the "US additional tariffs". Among others, Switzerland and Liechtenstein announced their intent to reduce import duties on all US industrial products and non-sensitive agricultural products and grant duty-free import tariff-rate quotas for certain US beef. In addition, Switzerland will encourage the investment of USD 200 billion into the US over the next five years, while the figure for Liechtenstein is USD 300 million.  

Türkiye increased the annual import tariff-rate quota on barley and corn from 700’000 tonnes to 1 million tonnes. It also lifted import duties on certain cereals until April 2026, provided that the imported products are used in the production of bakery products. The import duty on lentils is also temporarily reduced to 10% (from 19.3%) until April 2026. 

The United Arab Emirates’ Development Bank (EDB) granted AED 265 million in financing to Aster DM Healthcare, an integrated healthcare provider headquartered in the country. Subnationally, the Abu Dhabi Exports Office (ADEX) launched the USD 1 billion "Artificial Intelligence for Development" initiative. The initiative will support, among others, Emirati entities engaged in artificial intelligence projects in Africa. 

The United Kingdom unveiled a new “Critical Minerals Strategy” as part of the Modern Industrial Strategy of June 2025. The strategy expanded the list of critical minerals and introduced a new category of 23 "growth minerals". It set two policy objectives: optimising domestic production and building resilient supply networks both domestically and globally. Days prior, it published its “AI for Science Strategy”. This document allocated up to GBP 137 million to accelerate AI-enabled research across five priority areas: advanced materials, fusion energy, medical research, engineering biology, and quantum technologies. In terms of trade defence, the Department for International Trade set definitive anti-dumping duties of up to 55% on Chinese imports of biodiesel. 

Vietnam’s Development Bank (VDB) signed a credit financing worth VND 30 trillion with Aqua One Group. The beneficiary is a Vietnam-based group focused on water treatment and supply systems.

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