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South Korea announces lowering of tariffs as part of new US trade deal
The US and South Korea have reached a broad trade deal, both countries have said following talks between their leaders.
South Korea’s presidential aide, Kim Yong-beom, said the two sides will reduce reciprocal tariffs from 25% to 15%, as was agreed earlier this year.
South Korea will also invest $350bn in the US, including $200bn in cash investment and $150bn in shipbuilding, Kim said.
US President Donald Trump, who is currently on a week-long trip in Asia, said the deal was “pretty much finalised” at a dinner following the discussions, which lasted almost two hours. He did not give further details.
“We had a tremendous meeting today with South Korea”, Trump said of his discussions with South Korean President Lee Jae Myung, adding that “a lot was determined”.
“We discussed some other things to do with national security et cetera. And I think we came to a conclusion on a lot of very important items.”
Both sides had played down the prospect of a breakthrough ahead of Wednesday’s talks – disappointing many in South Korea’s electronics, chip and auto industries, which had been hoping for some clarity amidst the tariff chaos.
Trump had slapped a tariff rate on Seoul of 25% earlier this year – which Lee managed to negotiate down to 15%, after Seoul said it would invest $350bn in the US and buy $100bn worth of liquified natural gas.
But the White House later increase its demands as part of the trade talks, with Trump pushing for cash investments in the US.
Both countries have historically been key allies – but tensions spiked after hundreds of South Koreans were detained in an immigration raid in the US last month.
Trump will next meet his Chinese counterpart Xi Jinping in on Thursday on the sidelines of a summit of the Asia-Pacific Economic Cooperation (Apec) which is taking place in Gyeongju.
China’s foreign ministry has confirmed the meeting, which will take place in the city of Busan on Thursday, a short flight away from Gyeongju.
The US president said on Wednesday that he was “looking forward” to the meeting.
“We’ve been talking a lot over the last month and I think we’re going to have something that’s gonna be very, very satisfactory to China and to us.”
This will be the two leaders’ first face to face meeting since Trump assumed office in 2025 and imposed tariffs on every country in the world.
Addressing a group of CEOs in Gyeongju on Wednesday, Trump said that he believes the US is “going to have a deal” with China and it will be “a good deal for both”.
He also praised the Apec countries for making the global trading system, which he said had been “broken” and “in urgent need of reform”, fairer.
“Economic security is national security,” Trump says. “That’s for South Korea, that’s for any country.”
Ahead of Wednesday’s talks with President Lee, Trump had been greeted by an honour guard and gifts that included a golden crown.
“I’d like to wear it right now,” Trump had said of the crown.
He also received the Grand Order of Mugunghwa, South Korea’s highest decoration.
He’s the first US president to receive the award, which was given “in recognition of his contribution to peace on the Korean Peninsula”, the South Korean presidential office said.
Both leaders took part in a working lunch – which was followed by a private meeting in the afternoon.

Trump’s arrival in South Korea had been preceded by North Korea test-firing surface-to-air cruise missiles.
The US president had expressed interest in meeting North Korean leader Kim Jong Un but noted on Wednesday that his team had been unable to arrange this during his trip.
Noting the long-standing tensions between North and South Korea, Trump said “we will see what we can do to get that all straightened out”.
And outside the summit venue where both leaders were meeting, a small anti-Trump group of protesters gathered on Wednesday afternoon, with some shouting anti-Trump slogans. Police could be seen forcibly dispersing the crowd and arresting some people.
However, hundreds more attended a pro-Trump rally – including those who shouted anti-Chinese rhetoric – that also took place close to the summit venue.
Anti-Chinese sentiment in South Korea has also grown steadily in recent years. Chinese interference became a common trope in conspiracy theories about former South Korean president Yoon Suk Yeol.

During his trip to Japan on Tuesday, the US president signed an agreement on rare earth minerals with Tokyo, as well as a document heralding a new “golden age” of US-Japan relations. This reiterated the commitment of the two countries to implement deals struck earlier, including the 15% tariff deal negotiated earlier this year.
Prior to that, he attended a gathering of South East Asian leaders, known as Asean, in Malaysia. There he presided over a peace deal between Thailand and Cambodia, whose longstanding border dispute erupted into open conflict in July.
[BBC]
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Klaasen fifty, Travishek onslaught hand Sunrisers Hyderabad first points of the season
Sunrisers Hyderabad [SRH] became the first team in IPL 2026 to successfully defend a total, and for that, they had to post 226 for 8, the highest score of the season so far. Even that did not look safe at one point, but in the end, Kolkata Knight Riders [KKR] fell short by 65 runs.
Travis Head and Abhishek Sharma set the platform for SRH by adding 82 in 5.4 overs. Head made 46 off 21 balls, and Abhishek 48 off 21. KKR did make a comeback in the middle overs, but Heinrich Klassen’s 52 off 35 deliveries ensured they picked up 51 in the last four overs.
Finn Allen, batting on the same strip where he had scored a blazing hundred against South Africa in the T20 World Cup semi-final, started the chase by smashing 24 runs off David Payne. But Harsh Dubey had him caught and bowled from the other end. Angkrish Raghuvanshi’s 27-ball fifty steered KKR to 110 for 3 in ten overs, but his run-out soon after proved to be the turning point. Rinku Singh’s brief resistance was futile, and KKR were eventually all out for 161 in 16 overs.
Ajinkya Rahane, playing his 200th IPL match, opted to bowl after winning the toss. Vaibhav Arora started with three dots, beating Head’s outside edge on all three occasions. But that was the proverbial calm before the storm. Head pulled the last ball of the over for four before picking two more fours off Blessing Muzarabani in the next over.
Muzarabani was trying the short-ball ploy that had worked for Royal Challengers Bengaluru’s Jacob Duffy against the same opposition in the tournament opener, but it backfired here. Abhishek rubbed it in by pulling yet another short ball from Muzarabani for a six.
After Head smashed two sixes and two fours in Vaibhav’s next over, Rahane turned to spin. Sunil Narine conceded only three runs from the fourth over, and even induced a miscue from Head, but it landed safely. However, Abhishek took Varun Chakravarthy apart from the other end, hitting two sixes and three fours in a 25-run over.
Kartik Tyagi ended the stand by dismissing Head, but not before the batter had smashed him for a four and a six. SRH finished the powerplay on 84 for 1.
Muzarabani pulled things back for KKR by dismissing Ishan Kishan and Abhishek in the space of three balls. Kishan was caught at deep cover, and Abhishek at deep square leg, where Varun dived forward to complete a low catch. The third umpire had multiple looks at it before deciding it in KKR’s favour.
In the next over, Anukul Roy had Aniket Verma caught at long-off to make it 118 for 4. After that, Klaasen and Nitish Kumar Reddy decided to go into consolidation mode. As a result, only 37 runs came from overs 10 to 14.
Klaasen and Reddy picked up a four each off Narine in the 15th over, but Tyagi gave away only seven runs in the next. When Vaibhav conceded only three off the first five balls of the 17th over, it started looking like the final flourish might never come. But his final ball was in the slot for Reddy, who launched it over the bowler’s head for a six.
Klaasen then reverse-lapped Tyagi over deep third for a six, before Reddy hit him for back-to-back fours. Vaibhav hurt SRH by dismissing Reddy and Salil Arora off successive deliveries, but Klaasen, with the help of Dubey and Shivang Kumar, took them past 220.
Allen gave KKR the start they needed, with 25 runs coming off the first over. While Rahane was struggling and eventually fell for 8 off ten balls, Raghuvanshi didn’t let the scoring rate drop. He hit two sixes off Abhishek in the third over, and smashed back-to-back fours off Jaydev Unadkat in the fifth. After five overs, KKR were 67 for 2.
Cameron Green, though, was run out in the following over. As Raghuvanshi drove one back towards Eshan Malinga, the two batters set off, only to find the bowler had stopped the ball with his boot. Both Raghuvanshi and Green froze for a moment before deciding to keep running. Malinga picked the ball up and broke the stumps. Initially, it looked like Raghuvanshi, who was running towards the non-striker’s end, was run out. But the TV umpire found out the batters hadn’t crossed when the wicket was broken, and it was Green who was out.
Raghuvanshi and Rinku, though, kept the chase on track, and took KKR to 100 in nine overs, with SRH’s poor ground fielding also contributing towards it.
Soon after that, Reddy got rid of Roy and Rinku in back-to-back overs. Narine and Ramandeep Singh took KKR to 155 for 6 in the 15th over, before falling to Malinga’s slower balls. Unadkat then wrapped up the win with two wickets in two balls.
Brief scores:
Sunrisers Hyderabad 226 for 8 in 20 overs (Heinrich Klaasen 52, Abhishek Sharma 48, Travis Head 46, Ishan Kishan 14, Nitish Kumar Reddy 39; Vaibhav Arora 2-47, Blessing Muzarabani 4-41, Kartik Tyagi 1-48, Anukul Roy 1-16) beat Kolkata Knight Riders 161 in 16 overs (Finn Allen 28, Angkrish Raghuvanshi 52, Rinku Singh 35, Ramandeep Singh 10, Sunil Narine 12; Harsh Dubey 1-17, Jaydev Unadkat 3-21, Eshan Malinga 2-14, Nitish Kumar Reddy 2-17) by 65 runs

Eshan Malinga and Shivang Kumar celebrate after running out Angkrish Raghuvanshi [Cricinfo]
[Cricinfo]
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Heat Index at Caution Level in the Western, Sabaragamuwa, Southern, Eastern, North-western, Northern and North-central provinces and in Monaragala district.
Warm Weather Advisory
Issued by the Natural Hazards Early Warning Centre
Issued at 3.30 p.m. on 02 April 2026, valid for 03 April 2026.
The Heat index, the temperature felt on human body is likely to increase up to ‘Caution level’ at some places in the Western, Sabaragamuwa, Southern, Eastern, North-western, Northern and North-central provinces and in Monaragala district.
The Heat Index Forecast is calculated by using relative humidity and maximum temperature and this is the condition that is felt on your body. This is not the forecast of maximum temperature. It is generated by the Department of Meteorology for the next day period and prepared by using global numerical weather prediction model data.

Effect of the heat index on the human body is mentioned in the above table and it is prepared on the advice of the Ministry of Health and Indigenous Medical Services.
ACTION REQUIRED
Job sites: Stay hydrated and takes breaks in the shade as often as possible.
Indoors: Check up on the elderly and the sick.
Vehicles: Never leave children unattended.
Outdoors: Limit strenuous outdoor activities, find shade and stay hydrated.
Dress: Wear lightweight and white or light-colored clothing.
Note:
In addition, please refer to advisories issued by the Disaster Preparedness & Response Division, Ministry of Health in this regard as well. For further clarifications please contact 011-7446491.
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Former Minister Mahinda Wijesekara passes away aged 83
Former Matara District Member of Parliament and Cabinet Minister Mahinda Wijesekara has passed away this morning (02) at the age of 83 family sources have announced.
Mahinda Wijesekara served as a Member of Parliament for the Matara district for over two decades (1989 to 2010), representing the People’s Alliance, the United National Party and the United People’s Freedom Alliance.
He held several ministerial portfolios, including Minister of Postal and Telecommunication Services in 2008, Minister of Forestry and Envioronment 1999-2001, Minister of Fisheries and Ocean Resources from 2001 to 2004 and Minister of Special Projects 2007-2008
He was in poor health following injuries sustained in the 2009 bomb attack by the LTTE terrorists in Godapitiya, Matara.
He was the father of former Minister Kanchana Wijesekara.
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