Trade Deal
South Korea's first US investment announcement set after June law
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Industry Minister Kim Jung-kwan said specific investment projects in the United States can be discussed after a new law takes effect on June 18. The move aligns with last year's trade agreement committing South Korea to invest $350 billion in the US.
Canada is set to issue import permits for China-made electric vehicles under a new trade deal. Tesla is pulling its US-made Model 3s and switching to China-produced vehicles to dominate the quota. Chinese EV makers have not yet announced their plans for the Canadian market.
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US President Donald Trump stated on Monday that a trade deal with India is very close, potentially leading to lower tariffs on Indian goods. The remarks came during the swearing-in of Sergio Gor as US Ambassador to India. Trump cited India's reduced Russian oil imports as a reason for the tariff relief.