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AMMAN — Container traffic through the Aqaba Container Terminal (ACT) has seen a “substantial” increase during the first quarter of 2025, with the number of containers arriving there rising by 25 per cent compared to the same period in 2024. 

According to data from the Jordanian Logistics Association (JLA), carried out by the Jordan News Agency, Petra, a total of 109,621 containers were handled at the port during the first quarter, up from 87,708 in the first quarter of 2024.

The JLA data also revealed a “positive trend” in exports, with the number of containers carrying goods out of Jordan through ACT increasing by 12.5 per cent. 

The total number of containers leaving the port during the first quarter of 2025 reached 25,693, compared to 22,836 during the same period in 2024, JLA said. 

“The data for March 2025 also reflects this upward trend, with inbound container traffic growing by 2.2 per cent to reach 37,794 containers, up from 36,979 in March 2024. Similarly, the number of containers exported during the same month saw a 12.5 per cent rise, reaching 9,265, compared to 8,234 in March 2024,” it said. 

JLA President Nabil Khatib highlighted the “noticeable increase in activity at ACT since the start of the year, adding that the increase in port operations would have a positive effect on the country’s economy, particularly for the transportation sector, which plays a central role in driving economic growth, Petra reported.

BEIJING — China vowed on Tuesday to "fight to the end" against fresh tariffs of 50 percent threatened by US President Donald Trump, further aggravating a trade war that has already wiped trillions off global markets.

Trump has upended the world economy with sweeping tariffs that have raised the spectre of an international recession, but has ruled out any pause in his aggressive trade policy despite a dramatic market sell-off.

Beijing -- Washington's major economic rival but also a key trading partner -- responded by announcing its own 34 per cent duties on US goods to come into effect on Thursday, deepening a showdown between the world's two largest economies.

The swift retaliation from China sparked a fresh warning from Trump that he would impose additional levies if Beijing refused to stop pushing back against his barrage of tariffs -- a move that would drive the overall levies on Chinese goods to 104 percent.

"I have great respect for China but they cannot do this," Trump said in the White House.

"We are going to have one shot at this... I'll tell you what, it is an honour to do it."

China swiftly hit back, blasting what it called "blackmailing" by the US and vowing "countermeasures" if Washington imposes tariffs on top of the 34 per cent extra that were due to come in force on Wednesday.

"If the US insists on going its own way, China will fight it to the end," a spokesperson for Beijing's commerce ministry said on Tuesday.

In a mounting war of words between Beijing and Washington, China's foreign ministry also Tuesday condemned "ignorant and impolite" remarks by US Vice President JD Vance in which he complained the US had for too long borrowed money from "Chinese peasants".

The ministry said that "pressure, threats and blackmail are not the right way to deal with China".

Beijing urged Washington to instead "adopt an attitude of equality, respect and mutual benefit" if it wanted to engage in talks.

Market turmoil 

A 10 per cent "baseline" tariff on US imports from around the world took effect Saturday, and a slew of countries will be hit by higher duties from Wednesday, including the levy of 34 percent for Chinese goods as well as 20 per cent for EU products.

Trump's tariffs have roiled global markets in the last days, with trillions of dollars wiped off combined stock market valuations in recent sessions.

Hong Kong's Hang Seng collapsed by 13.2 per cent on Monday -- its worst day since the Asian financial crisis -- before paring back some of those losses on Tuesday.

But stocks in Thailand, Indonesia and Vietnam -- a key export hub -- sank on Tuesday, as they resumed trading after bank holidays.

In financial powerhouse Singapore, Prime Minister Lawrence Wong told parliament his government was "very disappointed by the US move".

"These are not actions one does to a friend."

Trump doubled down Monday, saying he was "not looking" at any pause in tariff implementation.

He also scrapped any meetings with China over tariffs, but said the United States was ready for talks with any country willing to negotiate.

After equities took a hammering in Shanghai, China's central bank issued a statement before trading resumed Tuesday to underline it was standing behind a sovereign fund as it buys up exchange traded funds to stabilise the market.

With investors seeking any relief from the ruinous trade war, stocks in Tokyo leapt Tuesday after Treasury Secretary Scott Bessent suggested in an interview with Fox News that Japan would get "priority" in negotiations over the US tariffs "just because they came forward very quickly".

Scores of countries have sought talks, Bessent said, adding "through good negotiations, all we will do is see levels come down".

'Don't be Weak!' 

While meeting Israel's Prime Minister Benjamin Netanyahu, the first leader to lobby Trump in person over the levies, Trump said: "There can be permanent tariffs, and there can also be negotiations, because there are things that we need beyond tariffs."

EU trade ministers were in Luxembourg on Monday to discuss the bloc's response, with Germany and France having advocated a tax targeting US tech giants.

"We must not exclude any option on goods, on services," said French Trade Minister Laurent Saint-Martin.

The 27-nation bloc should "open the European toolbox, which is very comprehensive and can also be extremely aggressive", he said.

While markets continued its wild ride, Trump told Americans: "Don't be Weak! Don't be Stupid!".

The 78-year-old Republican believes the tariffs will revive America's lost manufacturing base by forcing foreign companies to relocate to the United States, rather than making goods abroad.

But most economists question that and say his tariffs are arbitrary.

JPMorgan Chase CEO Jamie Dimon warned of coming inflation, adding "whether or not the menu of tariffs causes a recession remains in question, but it will slow down growth".

LONDON — Stock markets and oil prices collapsed further on a black Monday for markets as US President Donald Trump stood firm over his tariffs despite recession fears.

Trading floors across the globe were overcome by waves of further selling after last week's sharp losses, with Trump telling Americans to "be strong, courageous, and patient," minutes before the New York stock market opened to drops of over three per cent.

Wall Street was wracked by volatile trading, bouncing into positive territory on hopes of a 90-day pause in tariffs, only to sink lower when those were dashed by the White House.

Hong Kong collapsed by 13.2 per cent, in its worst day in nearly three decades.

Trillions of dollars have been wiped off combined stock market valuations in recent sessions.

Taipei stocks suffered their worst fall on record Monday, tanking 9.7 per cent.

Tokyo closed down by almost eight per cent.

Frankfurt fell as much as 10 per cent in early trading before paring back losses to end the day down 4.1 per cent.

Bitcoin tumbled, while the dollar rebounded after sharp losses last week.

"The carnage in global equity markets has continued," said Thomas Mathews, Asia Pacific head of markets at Capital Economics.

A 10-per cent "baseline" tariff on imports from around the world took effect Saturday.

A slew of countries will be hit by higher duties from Wednesday, with levies of 34 per cent for Chinese goods and 20 per cent for EU products.

Beijing last week announced its own 34-per cent tariff on US goods, which will come into effect on Thursday.

Trump on Monday threatened to slap an additional 50-per cent tariff on China if Beijing did not withdraw its retaliation plans -- heightening the prospect of another round of tit-for-tat hikes.

Bitter medicine 

Hopes that the US president would rethink his policy in light of the turmoil were dashed on Sunday when he said he would not make a deal with other countries unless trade deficits were solved.

"Sometimes you have to take medicine to fix something," he said of the ructions that have wiped trillions of dollars off company valuations, which impacts the retirement savings of a large number of Americans.

On Monday, Trump told Americans "Don't be Weak! Don't be Stupid!... Be Strong, Courageous, and Patient, and GREATNESS will be the result!"

In a letter to shareholders, JPMorgan Chase CEO Jamie Dimon warned that Trump's broad tariffs "will likely increase inflation".

"Whether or not the menu of tariffs causes a recession remains in question, but it will slow down growth," Dimon said, concluding that "the recent tariffs will likely increase inflation".

With the start of the first quarter earnings reports, the market is likely to get a flurry of updated outlooks by companies that could further dampen sentiment.

Monday's savage selling was across the board, with no sector spared.

Tech firms, carmakers, banks, casinos and energy firms all felt the pain as investors abandoned riskier assets.

Concerns about future energy demand saw oil prices sink as much as three per cent, having dropped some seven per cent Friday.

Both main contracts hit their lowest levels since 2021, but then cut losses.

AMMAN — Exports from the Amman Chamber of Industry (ACI) rose by 15 per cent during the first quarter of 2025, reaching JD1.692 billion compared with JD1.470 billion during the same period last year, according to statistical data provided by ACI to the Jordan News Agency, Petra.

The growth reflects the continued upward trajectory of Jordan’s industrial exports, signalling the sector’s ability to overcome challenges and enhance its competitiveness in international markets through "high-quality" production.

Seven of the 10 main industrial sectors recorded export increases in the first quarter. 

The construction materials sector led the growth with a 93 per cent rise in exports, followed by chemicals and cosmetics, and electrical, engineering, and IT industries. 

In contrast, the medical and therapeutic industries, wood and furniture, and packaging sectors posted declines of 14.1 per cent, 13.3 per cent, and 2.1 per cent, respectively.

India, the US, Saudi Arabia, and Iraq collectively accounted for over 57 per cent of total exports during the first quarter, with shipments to these four markets reaching JD964 million.

Exports to India jumped 56.2 per cent year-on-year to JD215 million, up from JD137 million in the same period last year. 

Exports to the US decreased slightly by 2.7 per cent to JD324 million, although it remained the largest single destination for ACI exports. 

Exports to Saudi Arabia fell 2.1 per cent to JD204 million, and those to Iraq declined 2.6 per cent to JD221 million.

Exports to Syria saw the highest growth among all markets, surging by 307.1 per cent to JD68 million, compared with JD16 million in the first quarter of 2024. 

Exports to Palestine also rose significantly by 38.9 per cent, reaching JD48 million.

Regionally, Arab countries remained the largest export destination with a total value of JD828 million, followed by North America at JD335 million and non-Arab Asian countries at JD310 million. 

Exports to the European Union reached JD87 million, while exports to non-EU European countries stood at JD57 million. 

African markets received JD53 million, and other destinations accounted for JD18 million.

By industrial classification, mining exports topped the list at JD340 million, followed by chemicals and cosmetics with JD308 million, engineering and IT with JD307 million, and food and agriculture-related sectors with JD250 million.

Exports from the medical and therapeutic sector totalled JD146 million, while garments and leather products reached JD140 million.

Other notable contributions came from the plastics and rubber sector with JD76 million), packaging and paper products with JD62 million, construction materials with JD56 million, and wood and furniture with JD5 million.

AMMAN — Amman Stock Exchange (ASE) revealed that the value of shares bought by non-Jordanian investors at the ASE in March 2025 was JD13.6 million, representing 11.8 per cent of the overall trading value, while the value of shares sold by them amounted to JD15.6 million.

The value of shares bought by non-Jordanian investors since the beginning of the year until the end of March 2025 was JD49.9 million, representing 13.1 per cent of the overall trading value, while the value of shares sold by them amounted to JD47.5 million, as announced by the ASE website.

Arab investors purchases in March 2025 stood at JD12.7 million, or 93.3 per cent of the overall purchases by non-Jordanians, while the value of non-Arab purchases amounted to JD0.9 million, constituting 6.7 per cent of the overall purchases by non-Jordanians.

Arab investors sales amounted to JD14.4 million, or 92.1 per cent of non-Jordanians total sales, while the value of non-Arab sales amounted to JD1.2 million, representing 7.9 per cent of the total sales by non-Jordanians.

Non-Jordanian investors' ownership in companies listed on ASE as of the end of March 2025 represented 47.6 per cent of the total market value, of which 33.3 per cent for institutional investors including companies, institutions and funds.

Arab investors own 31.5 per cent and non-Arab investors own 16.1 per cent.

At the sectorial level, the non-Jordanian ownership in the financial sector was 50.7 per cent, in the services sector was 22.8 per cent and 52.4 per cent in the industrial sector.

AMMAN — The Arab Preparatory Conference for Trade Unions commenced in Amman on Monday, ahead of the 113th session of the International Labour Organisation's (ILO) annual conference, scheduled for June in Geneva.

Organised by the Arab Trade Union Confederation and attended by representatives of Arab trade unions, the conference aims to coordinate a unified Arab stance and foster cooperation with Arab governments and allied nations to support Palestine’s bid for observer membership in the ILO.

Speaking on behalf of Senate President Faisal Fayez, Chairman of the Senate Labour and Development Committee Senator Issa Murad said in his opening remarks that the conference convenes amid "significant" social, economic, political and security challenges across the region.

Murad said that the most pressing of these challenges is the ongoing Israeli aggression against the Palestinian people in the Gaza Strip and the occupied West Bank, at a time when international legitimacy and the United Nations have failed to halt the massacres and war crimes, limiting their response to condemnation.

He underscored that regional instability and conflict intensify unemployment and poverty, impede economic growth and diminish productivity across Arab countries, "severely" impacting workers and labour institutions.

Murad called for convening an Arab economic summit involving parliamentarians, economists, business leaders, and representatives of chambers of commerce, industry and labour unions. 

He said that the goal of the summit would be to lay the groundwork for an Arab economic union modelled after the European and Chinese experiences.

President of the General Federation of Jordanian Trade Unions (GFJTU) Khaled Fanatseh stressed full support for Palestine’s membership in the ILO, highlighting the "vital" role trade unions play in defending workers’ rights and advancing their working conditions in accordance with international labour standards.

Fanatseh also cited ongoing challenges facing workers, particularly low wages and limited social protection, noting that women in the Arab region "disproportionately" shoulder unpaid care work, hindering their participation in the labour force.

President of the Arab Trade Union Confederation (ATUC) Shaher Saad reiterated the importance of unified Arab efforts to support Palestine’s ILO bid in light of Israel’s violations of Palestinian workers’ rights.

Executive Secretary of the ATUC Hind Benammar noted that over 280 million workers in 161 countries aspire to achieve social justice and enhance the role of unions in safeguarding their rights.

She pointed to the Arab region’s distinct developmental needs and stressed that empowering workers through occupational health and safety is a legitimate and essential step towards achieving sustainable development.

The conference will continue with two days of dialogue and conclude on Tuesday with an evaluation and recommendations session.

HONG KONG — Asian and European equities collapsed on a black Monday for markets after China hammered the United States with its own hefty tariffs, ramping up a trade war many fear could spark a recession.

Trading floors were overcome by a wave of selling as investors fled to the hills, with Hong Kong's loss of 13.22 percent its worst in nearly three decades. Taipei socks suffered their worst fall on record, tanking 9.7 percent, while Frankfurt dived 10 percent and Tokyo shed almost eight per cent.

Futures for Wall Street's markets were also taking another drubbing, while commodities slumped.

US President Donald Trump sparked a market meltdown last week when he unveiled sweeping tariffs against US trading partners for what he said was years of being ripped off and claimed that governments were lining up to cut deals with Washington.

But after Asian markets closed on Friday, China said it would impose retaliatory levies of 34 per cent on all US goods from April 10.

Beijing also imposed export controls on seven rare earth elements, including gadolinium -- commonly used in MRIs -- and yttrium, utilised in consumer electronics.

On Sunday, vice commerce minister Ling Ji told representatives of US firms that Trump's tariffs "firmly protect the legitimate rights and interests of enterprises, including American companies".

Hopes that the US president would rethink his policy in light of the turmoil were dashed Sunday when he said he would not make a deal with other countries unless trade deficits were solved.

"Sometimes you have to take medicine to fix something," he said of the ructions that have wiped trillions of dollars off company valuations.

No sector spared 

The savage selling in Asia was across the board, with no sector unharmed -- tech firms, car makers, banks, casinos and energy firms all felt the pain as investors abandoned riskier assets.

Among the biggest losers, Chinese ecommerce titans Alibabatanked 18 percent and rival JD.com shed 15.5 per cent, while Japanese tech investment giant SoftBank dived more than 12 percent and Sony gave up 10 per cent.

Hong Kong's 13-per cent drop marked its worst day since 1997 during the Asian financial crisis -- while Frankfurt plunged 10 per cent at one point.

Shanghai shed more than seven percent, with China's state-backed fund Central Huijin Investment vowing to help ensure "stable operations" of the market.

Singapore plunged nearly eight percent, while Seoul gave up more than five percent, triggering a so-called sidecar mechanism -- for the first time in eight months -- that briefly halted some trading.

Sydney, Wellington, Manila and Mumbai were also deep in the red, while London and Paris both dropped around five per cent.

"We could see a recession happen very quickly in the US, and it could last through the year or so, it could be rather lengthy," said Steve Cochrane, chief Asia-Pacific economist at Moody's Analytics.

"If there's a recession in the US, of course, China will feel it as well because demand for its goods will be hit even harder," he added.

Concerns about demand saw oil prices sink more than three percent at one point Monday, having dropped around seven percent Friday. Both main contracts are now sitting at their lowest levels since 2021.

Copper -- a vital component for energy storage, electric vehicles, solar panels and wind turbines -- also extended losses.

Carnage on Wall Street 

The losses followed another day of carnage on Wall Street on Friday, where all three main indexes fell almost six per cent.

"Over Thursday and Friday, the S&P 500 fell by a massive 10.53 per cent in total, making it the fifth-worst two-day performance since World War Two," said analysts at Deutsche Bank.

"Indeed, the only other times we've seen a double-digit loss over two sessions were during Covid-19, the height of the (global financial crisis), and Black Monday 1987."

That showing came after Federal Reserve boss Jerome Powell said US tariffs will likely cause inflation to rise and growth to slow, and warned of an "elevated" risk of higher unemployment.

"Powell's hands are tied," said Stephen Innes at SPI Asset Management. "He's acknowledged the obvious -- that tariffs are inflationary and recessionary -- but he's not signalling a rescue."

While Powell has so far refused to announce any rate cuts, markets are betting he will do soon.

Key figures around 0815 GMT 

Tokyo - Nikkei 225: DOWN 7.8 per cent at 31,136.58 (close)

Hong Kong - Hang Seng Index: DOWN 13.2 per cent at 19,828.30 (close)

Shanghai - Composite: DOWN 7.3 per cent at 3,096.58 (close)

London - FTSE 100: DOWN 4.6 per cent at 7,686.66

West Texas Intermediate: DOWN 4.1 per cent at $59.41 per barrel

Brent North Sea Crude: DOWN 4.0 per cent at $62.99 per barrel

Dollar/yen: DOWN at 145.80 yen from 146.98 yen on Friday

Euro/dollar: UP at $1.1019 from $1.0962

Pound/dollar: UP at $1.2911 from $1.2893

Euro/pound: UP at 85.36 pence from 85.01 pence

New York - Dow: DOWN 5.5 per cent at 38,314.86 (close)

AMMAN — The number of overnight tourists and day visitors from all Asian countries reached 41,426 during January and February, data from the Ministry of Tourism and Antiquities showed on Sunday.

The data revealed that the number of overnight tourists reached 37,778 while the number of day visitors reached 3,648, totalling 41,426 guests, Al Rai Newspaper reported.

Official figures indicated that the number of overnight tourists for the same period of last year reached 32,332, while the number of day visitors reached 2,665, marking a total of 34,997 tourists from Asian countries.

Comparing the same period in 2024 and 2025, the number of overnight tourists and day visitors from Asia grew by 18.4 per cent.

Preliminary data released by the Central Bank of Jordan earlier indicated that tourism income during the first two months of 2025 increased by 16.3 per cent to $1,283.8 million, compared with the same period in 2024.

The data showed a rise in tourism income from all nationalities, including expatriate Jordanians by 12 per cent, Arabs by 16.7 per cent, European nationalities by 4.6 per cent, Americans by 14.6 per cent, and other nationalities by 4 per cent.

AMMAN — The number of certificates of origin issued by the Amman Chamber of Commerce (ACC) for the export of goods and commodities to Arab and foreign countries rose by 26.2 per cent during the first quarter of 2025, compared to the same period last year, ACC said on Sunday

According to the ACC's statistical data obtained by the Jordan News Agency, Petra, a total of 7,208 certificates of origin were issued by the chamber during the January-March period 2025, compared to 5,711 certificates during the first three months in 2024.

Based on the data, the value of the ACC's certificates in the first three months 2025 dropped by 7.3 per cent, decreasing by approximately JD305 million, compared to JD328 million in 2024.

Syria ranked first on the list of the top five countries that received the chamber's exported goods and products during the same period with 1,665 certificates worth JD18 million, while Iraq ranked highest in terms of value.

Iraq ranked second with 801 certificates at a value of some JD137 million, placing it on the list of importing from the Kingdom with the highest value, the ACC figures showed.

The number of certificates of origin issued for Switzerland reached 7, valued at JD26 million, while Egypt accounted for 181 certificates valued at JD22 million and the UAE had 630 certificates valued at JD17 million. 

These countries are the largest in terms of both the number and value of export.

As for the type of products, the value of exports of non-Arab products amounted to some JD149 million, distributed among industrial products with JD71 million, agricultural products with JD29 million, and Arab products that amounted to around JD21 million. 

The remaining value was distributed among other types of products.

Customs authorities use these certificates to determine tariff eligibility and verify product origins.

The ACC issues certificates for Jordanian agricultural, livestock, and natural resource products, as well as foreign goods for re-export and locally purchased foreign products under specific conditions. 

The chamber also certifies Jordanian industrial products upon exporters’ request, based on an original factory invoice verified by an industrial chamber and an official certificate of origin confirming Jordanian manufacturing.

AMMAN — The value of certificates of origin issued by the Irbid Chamber of Industry (ICI) during March amounted to around $89.3 million, compared with $67.2 million for the same month in 2024, marking an increase of 33 per cent.

According to the chamber's report issued on Sunday, a total of 1,069 certificates of origin were issued in March, compared with 1,119 for the same period in 2024, the Jordan News Agency, Petra, reported. 

The report indicated that the textile and leather sector topped exports worth $79.06 million, followed by the food and agricultural supplies sector at $4.67 million, and then came the medical industries and supplies sector at $2.63 million.

The remaining exports mainly went for the chemical, cosmetics, engineering and electrical industries, as well as plastics, rubber, construction, packaging, paper, office supplies and mining sectors.

In a statement, ICI President Hani Abu Hassan said that the increase in the value of certificates of origin during March was due to the "significant" growth in exports from the leather, textile food and supply industries.

Abu Hassan added that the chamber's exports under the Greater Arab Free Trade Area declined by 14.5 per cent, recording approximately $6.3 million, compared with $7.5 million in March of 2024.

Exports under the Jordan-US Free Trade Agreement saw "strong" growth of over 47 per cent, indicating that the chamber's exports under trade agreements constituted 84.5 per cent of total exporting volume.