WTO: US rules out easing 10% surcharge amid skepticism over BoP claim (PRIV)
(D. Ravi Kanth, Geneva)
The United States has notified the World Trade Organization's Committee on Balance-of-Payments (BoP) Restrictions that it does not "currently envision any progressive relaxation" of the 10% import surcharge imposed under Section 122 of the US Trade Act of 1974, even as WTO members grow skeptical about the 150-day measure being levied without prior consultation, said people familiar with the development.

Climate: Global turmoil shadows Bonn talks (PRIV)
(Meena Raman, Bonn)
The 64th sessions of the UNFCCC's Subsidiary Body for Implementation (SBI) and the Subsidiary Body for Scientific and Technological Advice (SBSTA) are convening in Bonn, Germany, from 8 to 18 June 2026, presided over by SBI Chair Julia Gardiner (Australia) and SBSTA Chair Adonia Ayebare (Uganda).

UN: After record 2025/26 crop, FAO projects fall in world cereal output (PRIV)
(Kanaga Raja, Penang)
World cereal production is forecast to fall by 2 percent year-on-year in the 2026/27 season to 2,982 million tonnes, driven mainly by a drop in global wheat harvests, the UN Food and Agriculture Organization (FAO) has reported.