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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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Russia gifts 35 tonnes of Humanitarian Aid to Sri Lanka
The handover of 35 tonnes of Russian Humanitarian Aid to Sri Lanka, recently affected by the cyclone «Ditwah», took place at Katunayake today (10th December)
The shipment was welcomed at the Katunayake airport by Ambassador of Russia Levan Dzhagaryan, Minister of Ports and Civil Aviation Anura Karunathilaka and Deputy Minister of Defence, Major General Aruna Jayasekara (Retd).
Ambassador Levan Dzhagaryan: said “This delivery is a reflection of long-term friendly relations between Russia and Sri Lanka and reaffirms Moscow’s commitment to support countries in a difficult humanitarian situation.”
The supplies brought by the EMERCOM (Russian Ministry of Emergency Situations) aircraft comprised a movable 60 kW electric power station, Pumping equipment for water drainage, Summer tents (10-person capacity) and Food supplies (sugar, vegetable oil, rice)
The total cargo weight is 35 metric tonnes. The aid will be distributed among the most affected regions.

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Sri Lanka squad named for ACC Men’s U19 Asia Cup
Sri Lanka Cricket Selection Committee has named a 15-member squad to participate in the upcoming ACC Men’s U19 Asia Cup (50 Over).
The team will depart for the United Arab Emirates today [0 December 2025] and has been placed in Group B, alongside Nepal, Afghanistan, and Bangladesh.

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Tickner and Rae bowl West Indies out for 205 to give New Zealand the edge
New Zealand’s patchwork fast-bowling attack delivered a strong show on the opening day of the second Test in Wellington, dismissing West Indies for 205 inside 75 overs at Basin Reserve. But the sight of Blair Tickner being stretchered off late in the afternoon with a suspected dislocated left shoulder took some sheen off their day of dominance.
Tickner, playing his first Test in two years and leading the bowling with 4 for 32, was central to turning a bright West Indies start into yet another collapse, while Michael Rae, the 30-year-old debutant drafted into a severely depleted pace unit, complemented him with 3 for 67 in an energetic outing that gave New Zealand the bite they had lacked in the opening hour. That bite mattered because the first hour had belonged entirely to West Indies despite losing the toss, in a match where the hosts announced five changes and the visitors three.
On a pitch far milder than the traditional green seamer, John Campbell and Brandon King put on 66 for the opening wicket. Jacob Duffy and Zak Foulkes, burdened with heavy workloads from the first Test after the injuries to Matt Henry and Nathan Smith in Christchurch, bowled honest but ineffective spells that allowed scoring opportunities.
Campbell drove through the line, King played compactly, and West Indies looked assured.
But once New Zealand turned to Tickner and Rae – fresher workload-wise, and sharper in pace – the difference was visible. They operated either full or short but always at the stumps or the body, and the tone of the innings shifted dramatically.
Tickner was the first to strike when he prised out King in the 17th over. King, playing the Test after Tagenarine Chanderpaul picked up a side strain on the eve of the Test, and opening for only the second time in his Test career, was pinned lbw when Tickner’s delivery from a short-ish length jagged in and hit him on the pad. One over later, Kavem Hodge was undone for a duck by a fuller ball from Tickner that tailed in late and struck him in front of middle and leg. The double-blow helped New Zealand quickly erase an indifferent start heading into the lunch break.
Rae, who had leaked runs in his first spell in Test cricket, made an impact after lunch. Coming around the wicket, he angled a full ball across Campbell, who leaned into a drive with firm hands and edged to first slip, and at 93 for 3, West Indies’ position was slipping.
Shai Hope and Roston Chase attempted to restore stability with a 60-run stand for the fourth wicket. Hope scored freely but never convincingly; Tickner and Rae repeatedly hurried him with the short ball, and he took two blows to the helmet with concussion checks following as the afternoon surface grew livelier. Hope reached 48, but Tickner finally cracked him with another rising delivery that he tried awkwardly to fend off, gloving a catch to Kane Williamson at third slip. That, Tickner’s third wicket, had seemed almost inevitable given the sustained discomfort he had caused the batters, and Chase followed soon after, cramped by a Tickner delivery that jagged in sharply to catch the inside-edge on to leg stump for 29.
Justin Greaves, West Indies’ double-centurion in Christchurch, lasted 52 balls before Rae drew a faint outside edge with a tight off-stump line. Mitchell Hay completed the catch behind the stumps, leaving West Indies’ lower order exposed. Rae then trapped Kemar Roach lbw with a fuller delivery that kicked enough to beat the bat and straighten into middle stump, and at 184 for 7, the innings was in freefall.
But New Zealand’s mood would sour dramatically in the next over. Tickner sprinted across from fine leg to stop a boundary-saving flick from Tevin Imlach and dived full-length near the rope. He landed awkwardly, stayed down, and the players signalled urgently as medical staff from both New Zealand and the venue rushed to him. After several minutes of treatment, he was stretchered off – sitting up, but in pain – to warm applause from the Basin Reserve crowd. He later left the ground in an ambulance, with early indications pointing to a suspected dislocated shoulder.
Glenn Phillips, the most prolific wicket-taker in New Zealand’s XI with 31 strikes coming into the game, then removed the last recognised batter, bowling Imlach with a fuller ball that straightened just enough to beat the inside edge.
Anderson Phillip was run out soon after attempting a risky single – first surviving a throw from Devon Conway but then succumbing when an alert Kristian Clarke broke the stumps on the rebound. Duffy ended West Indies’ innings by having Ojay Shields edge to third slip to end the innings at 205. West Indies lost their last seven wickets for just 52 runs.
New Zealand openers Tom Latham and Conway batted nine overs before stumps, with West Indies’ seamers asking questions occasionally and inducing a couple of edges that didn’t carry to the slip cordon. The 24 runs they added before stumps gave New Zealand the firm upper hand, now behind by only 181 behind going into the second day where batting promises to be easier.
Brief scores:[Day 1 Stumps]
New Zealand 24 for no loss (Devon Conway 16*, Tom Latham 7*) trail West Indies 205 in 75 overs (Shai Hope 48, John Campbell 44; Blair Tickner 4-32, Michael Rae 3-67) by 181 runs
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