The Korea Development Institute (KDI) halved its 2025 economic growth outlook for the country to 0.8 percent from 1.6 percent in just three months, the first sub-1 percent projection by any major domestic research body for this year.
China will lower its tariffs on U.S. goods to 10 percent for an initial 90 days starting from 12:01 p.m. on Wednesday, the Chinese Finance Ministry said in a statement on Tuesday.
President Donald Trump’s agreement with China to temporarily slash tariffs for 90 days offered the world a bit of welcome relief.
Top U.S. officials are set to meet with a high-level Chinese delegation this weekend in Switzerland, the administration announced Tuesday, in the first major talks between the two nations since President Donald Trump sparked a trade war.
U.S. President Donald Trump has threatened to slap a 100 percent tariff on films made outside the United States.
As the 25 percent tariff imposed by U.S. President Donald Trump on foreign automobile parts officially went into effect on Saturday, Korean companies have begun scrambling to come up with solutions.
Korean factory activity contracted sharply due to U.S. tariffs, with declining output, orders, and manufacturers' pessimism reaching a historic low.
The United States has approached China seeking talks over President Donald Trump's 145 percent tariffs, a social media account affiliated with Chinese state media said on Thursday, potentially signaling Beijing's openness to negotiations.
U.S. President Donald Trump moved to relieve imported autos and parts of duplicate tariffs, but Korean carmakers are still feeling out the environment.
Korea's Industry Ministry on Tuesday held a meeting with domestic exporters to share the results of last week's high-level trade talks with the United States and to gather industry feedback.
Korea JoongAng Daily Sitemap
