Trump says dairy, lumber tariffs on Canada may come soon

US President Donald Trump said Friday that he could impose reciprocal tariffs on Canadian dairy and lumber within days -- a move set to fuel tensions with Ottawa just days after an earlier wave of levies. Since taking office in January, Trump has unleashed a series of tariffs and threats targeting US allies and adversaries, including duties of up to 25 percent on imports from Canada and Mexico. On Thursday, he provided the vital trading partners temporary reprieve, exempting goods coming in from

March 8, 2025

N. Korean leader inspects project to build nuclear-powered submarine

North Korean leader Kim Jong-un has inspected a project to build a nuclear-powered submarine, warning that his country's maritime defense capability will be "fully" projected "in any necessary waters without limitation," the North's state media reported Saturday. Kim made the remark when he visited major shipyards tasked with constructing warships, according to the Korean Central News Agency (KCNA). The report did not disclose the date and location of his inspection. During the inspection, the r

March 8, 2025

Trump mentions Taiwan, S. Korea while saying America lost chip business

US President Donald Trump mentioned Taiwan and South Korea Friday, as he argued that the United States lost semiconductor business to foreign countries. During a press availability at the White House, Trump also renewed his criticism of the CHIPS and Science Act, calling it a "tremendous waste of money." The act was signed by his predecessor Joe Biden in 2022 to boost domestic chip manufacturing through incentives. "We gradually lost the chip business, and now it's almost exclusively in Taiwan.

March 8, 2025

Japan to send trade minister Muto to US amid tariff tensions

Japan’s Trade Minister Yoji Muto will visit the US next week as Tokyo steps up efforts to seek a reprieve from President Donald Trump’s tariff campaign. The visit is set to take place from March 9 to March 11, just before the president’s extra levies on steel and aluminum are expected to kick in on March 12, Japan’s Trade Ministry said Friday. Muto is expected to meet his counterpart, US Commerce Secretary Howard Lutnick, according to the ministry. Japan is seeking an exemption from Trump’s blan

March 7, 2025

Yoon supporter in critical condition after self-immolation

A man presumed to support impeached President Yoon Suk Yeol was in critical condition Friday after setting himself on fire, police said. The 79-year-old man, whose name was withheld, set fire to himself on the rooftop of a building near Seoul City Hall at around noon, according to the police. He was taken to a hospital and remains in serious condition. The man carried printed materials denouncing the opposition bloc, while supporting Yoon. (Yonhap)

March 7, 2025

State pension fund retrieves half of $423 mil. investment in Homeplus

South Korea's state pension fund said Friday it had recovered about half of its total investment of 612.1 billion won ($423.5 million) in major retailer Homeplus, which recently entered a court-led rehabilitation process amid liquidity worries. The National Pension Service originally invested in Homeplus through a fund, including 582.6 billion won in redeemable convertible preferred stock, when private equity firm MBK Partners acquired the retail chain in 2015. RCPS is a hybrid financial instrum

March 7, 2025

North Korea warns US and South Korea will 'pay dearly' for joint military exercise

North Korea condemned an upcoming US-South Korea joint military exercise Friday, saying that "counteraction is inevitable" and warning that the allies would "pay dearly." The threat came one day after the United States and South Korea announced that their annual springtime Freedom Shield exercise would run from Monday through March 20, involving computer-simulated drills and on-field training. Freedom Shield will reflect "realistic threats, lessons learned from recent armed conflicts and evolvin

March 7, 2025

Seoul end lower over market uncertainties stemming from US tariff woes

South Korean stocks ended lower Friday amid persisting woes over uncertainties sparked by the US administration's continuous shifts in its tariff plans. The Korean won was trading lower against the US dollar. The benchmark Korea Composite Stock Price Index lost 12.68 points, or 0.49 percent, to close at 2,563.48. Trade volume was moderate at 558.4 million shares worth 11.8 trillion won ($8.2 billion), with losers outpacing winners 541 to 348. Individual investors sold a combined 186.7 billion wo

March 7, 2025

Consumer inflation projected to hover around 2%: finance ministry

South Korea's inflation is expected to continue hovering around 2 percent for a while, the finance ministry said, reaffirming efforts to keep consumer prices at a stable level. Inflation came to 2 percent in February thanks to a slowdown in price increases of petroleum and agricultural products, and is forecast to stay around that mark, First Vice Finance Minister Kim Beom-suk said. Kim said the government will continue to put in all-out efforts to keep inflation at a stable level as uncertainti

March 7, 2025

Police detain teacher for questioning over murder of student

Police investigating last month's murder of an 8-year-old student by her teacher in the central city of Daejeon said Friday they have just begun questioning the teacher after executing a warrant of detention for her. The first-grade student was found with stab wounds in an empty school classroom on Feb. 10, and the female teacher in her 40s, whose family name is Myeong, admitted to stabbing the girl to death for unknown reasons. Myeong, who attempted suicide after the crime, underwent venous sut

March 7, 2025