Key points of the global economic news on March 18, 2026

Vietnam and Japan Launch New ODA Project for Ecological Transition: On March 18, the Japan International Cooperation Agency (JICA), in collaboration with the Vietnamese Ministry of Finance, held a workshop on the “Program-Loan for Ecological Transition towards Green Growth and Climate Change Adaptation” (hereinafter referred to as the “Program-Loan”). This loan, amounting to 50 billion yen (approximately 320 million US dollars), has been approved by the governments of both countries and is expected to be signed in March 2026.

A Test for Asia’s Energy Security: Escalating conflicts in the Middle East are weakening the global energy system, with Asia, the world’s largest energy consumer, being the most exposed to risks. The situation in the Strait of Hormuz, a strategic navigation route for oil and gas, has become a key factor in global economic outlook in the coming months.

Conflict in the Middle East Sparks Global Fertilizer Crisis: The quasi-blockade of the Strait of Hormuz – a vital sea route for approximately one-third of global fertilizer supply – due to the Middle East conflict is causing an unprecedented shock in the global agricultural sector. Many countries are striving to find alternative sources to ensure food security.

US Proposes Establishment of a Trade Council with China to Balance Economic Relations: According to the New York Times, President Donald Trump’s administration is proposing a more formal approach to oversee and regulate trade between the United States and China, aiming to balance an economic relationship that US officials have long considered unequal.

EU-MERCOSUR Agreement Completes Ratification Process in South America: On March 18, Paraguay formally ratified the Free Trade Agreement (FTA) between the European Union (EU) and the Southern Common Market (MERCOSUR), becoming the last bloc member state to complete the relevant legal process.

Japanese Government Steps in as Gas Prices Hit New Highs: The Japanese government is set to resume subsidies on gasoline and diesel from March 19 as fuel prices reach unprecedented levels.

China Grants Licenses to National Companies to Purchase AI Chips from Nvidia: Sources close to the matter confirmed on March 17 that Chinese authorities have officially granted licenses to several national companies to purchase the H200 series of artificial intelligence (AI) chips from the American technology giant Nvidia.

Indonesia Postpones Ratification of ART as US Opens Trade Probe: The Indonesian government announced a temporary suspension of the Mutual Trade Agreement (ART) ratification process with the United States as the latter launches new investigations under article 301 on allegations of unfair trade practices.

Iraq Partially Restores Oil Exports via Turkey: The Iraqi government announced on March 18 that it has begun, in a limited capacity, to restore its oil exports to the tune of 250,000 barrels per day via the Turkish port of Ceyhan. This decision follows a sharp drop in Iraqi oil production due to disruptions in the Strait of Hormuz.

Source: https://baotintuc.vn/kinh-te/diem-tin-kinh-te-the-gioi-noi-bat-ngay-1832026-20260318204511321.htm