South Korea considers playing US tech card as tariff deadline nears
KIM JAEWON
SEOUL -- South Korea is trying to fend off U.S. President Donald Trump's tariff pressure and buy more time ahead of a key deadline by suggesting Seoul could soften plans to regulate U.S. tech companies.
Trade Minister Yeo Han-koo, Seoul's point man for negotiations, said the export-driven economy would take a "flexible" approach to U.S. tech companies in ongoing tariff talks in a bid to protect its own manufacturers.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Nikkei Asia
26 minutes ago
- Nikkei Asia
Capgemini buys India-based WNS for $3bn to boost AI capabilities
WNS is considered strong in agentic AI solutions -- systems that can make decisions autonomously and execute on them. (Source photos by Reuters and screenshot from WNS's website) SAYAN CHAKRABORTY BENGALURU -- Capegemini, a French technology company, said on Monday that it will pay $3.3 billion in cash to buy WNS, a Mumbai-headquartered business process management company, to bolster its artificial intelligence capabilities. WNS, which also has headquarters in London and New York, straddles about eight sectors including banking, insurance and packaged goods, and counts United Airlines, Aviva and McCain Foods among its clients. It posted profits of $170 million in the fiscal year ending in March 2025 on revenues of $1.3 billion.
Japan Today
44 minutes ago
- Japan Today
Global shares mostly down as Trump's tariff deadline looms and pressure steps up
Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI), top left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, July 7, 2025. (AP Photo/Ahn Young-joon) By TERESA CEROJANO Global shares mostly fell Monday as the Trump administration stepped up pressure on trading partners to quickly make new deals before a Wednesday tariff deadline, with plans for the United States to start sending letters warning countries that higher tariffs could kick in Aug. 1. In early European trading, Britain's FTSE 100 was down 0.2% to 8,809.23 while Germany's DAX added 0.3% to 23,854.32. In Paris, the CAC 40 edged down 0.1% to 7,688.34. Japan's Nikkei 225 shed 0.6% to 39,587. 68 while Hong Kong's Hang Seng index edged down 0.1% to 23,887.83. South Korea's KOSPI index rose 0.2% to 3,059.47 while the Shanghai Composite Index edged 0.1% higher to 3,473.13. Australia's S&P ASX 200 fell 0.2% to 8,589.30. Oil prices also fell after OPEC+ agreed on Saturday to raise production in August by 548,000 barrels per day, accelerating output increases since oil prices jumped, then retreated, in the aftermath of Israel and U.S. attacks on Iran. U.S. benchmark crude was down 71 cents to $66.29 per barrel. Brent crude, the international standard, shed 41 cents to $68.39 per barrel. U.S. shares were set to drift lower with S&P 500 futures declining 0.4% to 6,295.50 and Dow futures down 0.2% at 45,012. 'We expect markets to be volatile into the 9-July deadline when the 90-day pause on President Trump's reciprocal tariffs expires for non-China trading partners,' the Nomura Group wrote in a commentary. It said the near-term outlook will likely hinge on several key factors like the extent to which trading partners are included in Trump letters, the rate of tariffs, and the effective date of such tariffs. A more distant implementation date might leave scope for some last-minute trade negotiations and maintain market optimism for potential resolutions or extensions, it added. 'With the July 9 tariff deadline fast approaching, all eyes are trained on Washington, scanning for signs of escalation or retreat. The path forward isn't clear, but the terrain is littered with risk," Stephen Innes, managing partner at SPI Asset Management said in a commentary. On Thursday, a report showed the U.S. job market performed stronger than Wall Street expected. The S&P 500 rose 0.8% and set an all-time high for the fourth time in five days. The Dow Jones Industrial Average added 344 points, or 0.8%, and the Nasdaq composite gained 1%. In other dealings Monday, the U.S. dollar rose to 145.18 Japanese yen from 144.44 yen. The euro edged lower to $1.1734 from $1.1779. © Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
Nikkei Asia
an hour ago
- Nikkei Asia
Chinese Vice Premier He Lifeng to visit Osaka Expo
Chinese Vice Premier He Lifeng is a close aide to President Xi Jinping and is in charge of trade negotiations with the U.S. YUKIO TAJIMA BEIJING -- China's Vice Premier He Lifeng is expected to travel to Japan this week where he will visit Expo 2025, which is currently being held in Osaka, Nikkei has learned. While there, he is scheduled to hold talks with senior members of the Japan-China Friendship Parliamentarians' Union, which is chaired by Yutaka Moriyama, the secretary-general of the ruling Liberal Democratic Party, according to multiple sources familiar with Japan-China relations.
