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South Korean Assets Plunge on Trump's 25% Tariff Announcement

South Korean Assets Plunge on Trump's 25% Tariff Announcement

Bloomberg07-07-2025
South Korean assets plunged to session lows after President Donald Trump announced a 25% tariff on the nation's goods, ratcheting up tension with one of the most important trading partners to the US.
The won plunged as much as 1.1% to trade at 1,378 per dollar, the lowest in two weeks, after Trump announced the trade levy in a social media post. Shares for the $4.95 billion iShares MSCI South Korea (EWY) fell 3.6%, the most since April.
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KKR Launches Tender Offer for Topcon
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KKR Launches Tender Offer for Topcon

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Morning Bid: US-EU deal boosts markets and the dollar

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Thailand and Cambodia agree immediate and unconditional ceasefire
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Thailand and Cambodia have agreed to an 'immediate and unconditional' ceasefire from midnight to resolve deadly border clashes, Malaysian Prime Minister Anwar Ibrahim said. Mr Anwar, who chaired the talks as head of the ASEAN regional bloc, said both sides have reached a common understanding to take steps to return to normalcy. Cambodian Prime Minister Hun Manet and Thai acting Prime Minister Phumtham Wechayachai have agreed to 'an immediate and unconditional ceasefire with effect from… midnight of July 28″, Mr Anwar said as he read out a joint statement. Mr Hun Manet and Mr Phumtham hailed the outcome of the meeting and shook hands at the conclusion of the brief press conference.

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