International Trade
Trump threatens 25% tariff hike on South Korean goods over trade deal delays amid Coupang tensions
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U.S. President Donald Trump announced plans to raise tariffs on South Korean automobiles, pharmaceuticals, lumber and other goods from 15 percent to 25 percent, citing delays in Seoul's implementation of a bilateral trade deal. Republicans have linked the move to South Korea's probe into U.S.-listed e-commerce firm Coupang, though Trump later signaled room for negotiation. Seoul denies any connection and is dispatching officials for talks.
CJ Olive Young has partnered with a Polish cosmetics distributor to export its private brand products to Europe. The deal will initially introduce skincare lines like Bioheal BOH, Bringgreen, and Colorgram through sales networks in Poland before expanding to other markets. This move bolsters the CJ Group's retail arm's international expansion efforts.
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On February 2, 2026, the China International Import Expo (CIIE) released several episodes of 'CIIE Stories' videos, highlighting how international companies have achieved business breakthroughs through the platform. Representatives from firms in New Zealand, Nigeria, France, and Germany shared how the CIIE has helped them enter the Chinese market and drive innovation.
The European Parliament voted on Wednesday to refer the EU-Mercosur trade deal to the Court of Justice to check its legality, temporarily halting its implementation. Thousands of farmers are protesting in Strasbourg against the agreement, with a police officer seriously injured in clashes. France welcomes the vote as aligned with its opposition to the treaty.
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Argentine President Javier Milei reaffirmed in Davos World Economic Forum his strategy of structural trade openness, regardless of the judicial halt to the EU-Mercosur agreement. He highlighted a record trade surplus of US$ 11.286 million in 2025 and criticized socialism in his speech. Critics like Jorge Asís and Roberto Cachanosky questioned the clarity and originality of his intervention.
The European Council approved the free trade agreement between the European Union and Mercosul on Friday (9), with support from 21 of the 27 member states, following negotiations started in 1999. Despite the progress, hurdles remain, including European Parliament approval and potential legal challenges from countries like France. Signing is scheduled for January 17 in Asunción, Paraguay.
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EU countries have backed the historic trade deal with Mercosur by qualified majority, paving the way for signing on January 17 in Paraguay. The agreement, negotiated for over 25 years, sparks divisions due to farmers' protests fearing unfair competition. Spain supports the decision, seen as a step toward European strategic autonomy.
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