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Trump raises US tariffs on South Korea imports to 25%
US President Donald Trump has announced he is raising tariffs on South Korean imports to 25% after accusing Seoul of “not living up” to a trade deal reached last year.
In a post on social media, Trump said he would increase levies on South Korea from 15% across a range of products including automobiles, lumber, pharmaceuticals and “all other Reciprocal TARIFFS”.
Trump said South Korean lawmakers have been slow to approve the deal while “we have acted swiftly to reduce our TARIFFS in line with the Transaction agreed to”.
South Korea says it had not been given official notice of the decision to raise tariffs on some of its goods, and wanted urgent talks with Washington over the issue.
It added that South Korea’s Industry Minister Kim Jung-kwan, who is currently in Canada, will visit Washington as soon as possible to meet US Commerce Secretary Howard Lutnick.
Shares in some South Korean exporters fell on Tuesday morning, with car maker Hyundai down about 2.5%. Stocks related to pharmaceuticals and timber were also lower.
Seoul and Washington reached a deal last October, which included a pledge from South Korea to invest $350bn (£256bn) in the US, some of which would go to shipbuilding.
The following month, the two countries agreed that the US would reduce tariffs on some products once South Korea started the process to approve the deal.
The agreement was submitted to South Korea’s National Assembly on 26 November and is currently being reviewed. It is likely to be passed in February, according to local media.
Tariffs are paid by companies who import products. In this case, US firms will pay a 25% tax on goods they buy from South Korea.
Trump has frequently used tariffs as leverage to enact foreign policy during his second term in the White House.
On Saturday, he threatened Canada with a 100% tariff if it struck a trade deal with China.
On Monday, Chinese officials said its “strategic partnership” agreement with Canada is not meant to undercut other countries.
Canadian Prime Minister Mark Carney has said his country was not pursuing a free trade deal with China and has “never” considered it.
He added that Canadian officials have made their position clear to their American counterparts.
Before that, Trump said he would impose import taxes on eight countries – including the UK – who opposed US plans to seize Greenland, an autonomous territory in the Kingdom of Denmark which is a member of Nato.
He later backed down from the tariff threat over Greenland citing progress towards a “future deal” over the island, but the episode strained US relations with Denmark and other Nato allies.
[BBC]
Jos Buttler has been ruled out of England’s ODI series decider against Sri Lanka at The Oval on Sunday, with Jordan Cox likely to replace him and keep wicket. Don Lawrence who is yet to win an international cap in either white-ball format, has been called up to the squad as cover.
Buttler pulled up with a left hamstring injury while running between the wickets in Thursday’s second ODI at Headingley and received treatment from England physio Steve Haw, a recent recruit from rugby union club Exeter Chiefs. He faced two more balls before retiring hurt, and briefly hobbled back to the middle before holing out as England slipped to a 16-run defeat.
Buttler’s eventual 69 was his highest score in ODIs in three years, but his injury will be something of a concern. He is now 36, and has been affected by various soft-tissue injuries in recent years. These have mainly been calf injuries, but he also suffered a similar left-hamstring issue during the 2024 IPL season.
England do not yet know the extent of Buttler’s injury but expect to have more information early next week once he has been for an MRI scan.
In Buttler’s absence, Cox is likely to win only his fourth ODI cap on Sunday and is expected to take the gloves ahead of Tom Banton. Kevin Pietersen, England’s new white-ball mentor, said on Thursday night that opportunities available through injuries would help build depth ahead of next year’s World Cup.
“[We need to] have certain players in certain positions, in order for us to know that if something like this happens to Jos in, say, the final round of whatever game in South Africa, and you’ve got to go and play a quarter-final, that somebody can step up into Jos’s boots – like we’re going to need to have on Sunday,” Pietersen said.
Lawrence, who made three half-centuries in four innings in England’s recent Test series win over Pakistan, has been withdrawn from Surrey’s ongoing Country Championship match at Somerset, having made his sixth hundred of the season on Thursday. He will train with the ODI squad at The Oval on Saturday.
Lawrence was previously called up to England’s ODI squad to face Pakistan in 2021 when their first-choice side went into Covid isolation, but did not play a game in the series. He has only played 28 List A games in his career, the most recent of them in May 2019.
(Cricinfo)
Tens of millions of people across the north-eastern US are in the path of a powerful storm bringing coastal flooding, power cuts, travel chaos and cancelled stadium events.
The so-called nor’easter is bringing “dangerous coastal flooding and beach conditions, strong winds and heavy rainfall” to areas including New York City and Boston on Saturday, the US National Weather Service (NWS) said.
States of emergency have been declared in New York and New Jersey, both of which faced a coastal deluge in some areas. Rain and strong winds are forecast from Virginia to Maine.
Ed Sheeran’s much-awaited Boston concert was among events called off due to the weather.
Residents on kayaks in a Beach Haven West, New Jersey, neighbourhood (BBC)The nor’easter caused widespread power cuts. More than 100,000 households, nearly all in the northeast US, have lost electricity, according to tracker PowerOutage.
The Federal Aviation Administration recommended air passengers check with airlines about their flight status. More than 2,400 flights have been delayed and another 1,199 grounded, according to FlightAware.
Saturday’s full moon is projected to worsen coastal flooding. Streets and homes were inundated with floodwater in the coastal New Jersey communities of Surf City and Manasquan on Saturday.
“I urge all New Jerseyans to take this storm seriously, stay alert and follow local guidance,” Governor Mikie Sherrill said.
NWS said in its alert: “Prepare immediately for significant inundation in low-lying areas near the shore, including roads underwater and impacts to homes and businesses.”
In New York, officials are warning of wind gusts of up to 55mph (86km/h) throughout the weekend, leading to downed trees and power lines
“Don’t travel if you don’t have to,” NYC Mayor Zohran Mamdani told residents in a video message. “Do not drive or walk through floodwater.”
In the Boston area, the Red Sox moved the last game in their series against the Chicago Cubs to Sunday afternoon in Florida.
A professional football match between Red Bull New York and St Louis City SC was also cancelled.
(BBC)
US President Donald Trump has rejected an Iranian proposal to reopen the Strait of Hormuz to commercial shipping within a week
He told reporters at the White House that Tehran “want to make a deal where they open the Strait immediately because they’re losing so badly”.
In a post on Telegram, Iran’s Foreign Minister Abbas Araghchi acknowledged Trump’s comments, but said Tehran would wait for an official response from mediators.
On Friday, Araghchi had told reporters at the UN in New York that an agreement could be reached “if the necessary conditions are met” and that these were contained in a memorandum of understanding (MOU) signed by the two countries in June.
The vital waterway through which around a fifth of the world’s gas and oil supply usually flows has been effectively closed since the outbreak of war in February.
“I’m rejecting their deal,” Trump said on Saturday, adding that the US already had “total control” of the strait, with “massive amounts of oil” passing through it.
“They want to make a deal, and I think that’s fine. I like making a deal, too. But that deal would not be acceptable,” he added.
Araghchi wrote that Trump “has made many good statements, as well as many contradictory ones, which unfortunately we hear frequently.”
He added that he would await the “definitive views” of mediators, and that Tehran “will make a decision based on that.”
On Friday the Wall Street Journal cited officials as saying Trump was sceptical that Iran would meet his demands and had told his staff that he saw a renewed bombing campaign as probable.
Iran responded to US and Israeli air strikes, beginning in late February, by attacking Israel and US bases in the Gulf and Arab Gulf allies of the US – as well as blocking the Strait of Hormuz. Its closure has caused wild fluctuations of energy prices.
The economic effects have also increased pressure on Trump to find a way of ending the conflict – particularly as the US heads towards Congressional elections in November.
(BBC)
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