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Trump calls workers arrested at S. Korean plant site 'illegal aliens'
US President Donald Trump on Friday described hundreds of workers arrested in this week's raid at a South Korean plant construction site in Georgia as "illegal aliens," stressing that immigration officials were "just doing their job." Trump made the remarks during a press availability after US authorities confirmed that Thursday's raid at the electric vehicle battery construction site -- operated by Hyundai Motor Group and LG Energy Solution Ltd. in Bryan County -- resulted in the arrest of 475
Sept. 6, 2025 -
Fed officials, worried about jobs, muse on rate-cut prospects
Several Federal Reserve officials who spoke Wednesday said labor market worries continue to animate their belief that rate cuts still lie ahead for the central bank. “I've been clear that I think we should be cutting at the next meeting,” Federal Reserve Gov. Christopher Waller said in an interview with CNBC, reiterating the view he has held for some time and led him to dissent at the late July Fed meeting in favor of an easing. "You want to get ahead of having the labor market go down because u
Sept. 4, 2025 -
World Bank sees edge for Korea in AI-driven energy demand
Korea, especially its private sector, can step up even further to contribute more to the world, as the global demand for clean energy continues to rise from new sources such as artificial intelligence and data centers, in addition to economic growth, use of air conditioning and electrification of transport modes, according to an executive at the World Bank. “Everybody’s looking for what are the best ways to generate more clean energy and how to use (artificial intelligence) to make electricity g
Sept. 3, 2025 -
Nestle sacks CEO over office relationship
GENEVA (AFP) - Swiss food giant Nestle on Monday dismissed Laurent Freixe as chief executive with immediate effect over an "undisclosed romantic relationship with a direct subordinate." The multinational behind Nespresso coffee capsules and KitKat chocolate bars said Freixe's dismissal followed an investigation. In a swift move, Nespresso CEO Philipp Navratil was appointed to take over by his fellow board members. "The departure of Laurent Freixe follows an investigation into an undisclosed roma
Sept. 2, 2025 -
North Gyeongsang Province, Gyeongju partner with KAPEA to attract global investment
North Gyeongsang Province and Gyeongju signed a memorandum of understanding with the Korea Asia-Pacific Economic Association on Friday to co-host a global investment forum later this year. The signing ceremony, held in Seoul, was attended by Yang Geum-hee, vice governor for economic affairs of North Gyeongsang Province; Song Ho-jun, deputy mayor of Gyeongju; and Ji Young-mo, chair of the association. Over 30 economic and diplomatic figures participated in the event, including officials from the
Sept. 1, 2025 -
US still working on trade deals despite court ruling, USTR says
WASHINGTON (Reuters) -- The Trump administration is continuing its talks with trading partners despite a US appeals court ruling that most of President Donald Trump's tariffs are illegal, US Trade Representative Jamieson Greer said Sunday. "Our trading partners, they continue to work very closely with us on negotiations," he said in an interview on Fox News' "Fox & Friends" program. "People are moving forward with their deals, regardless of what this court may say in the interim." Greer did not
Sept. 1, 2025 -
US tariff exemption for low-value packages ends with few hiccups but higher costs loom
WASHINGTON (Reuters) -- The US ended tariff exemptions for parcel imports Friday without the logistical hiccups that dogged prior attempts, while consumers, e-commerce companies and small businesses using online marketplaces braced for cost increases and supply chain disruptions. The US Customs and Border Protection agency began collecting normal duty rates on all package shipments valued under $800, regardless of value, country of origin, or mode of transportation. For the first six months, imp
Aug. 31, 2025 -
US tax exemption for imports worth $800 or less to end this week
A US tariff exemption for low-value imports is set to end this week as US President Donald Trump signed an executive order last month to suspend the "de minimis" rule for shipments worth $800 or less. Created in 1938, the de minimis provision is set to expire on Friday -- a setback to e-commerce companies that have relied on the rule to send small parcels to US customers duty-free. In May, Trump already suspended the tariff exemption for inexpensive packages from China and Hong Kong. With the su
Aug. 29, 2025 -
Nvidia CEO Jensen Huang says AI boom far from over
SAN FRANCISCO (Reuters) -- Nvidia CEO Jensen Huang on Wednesday dismissed concern about an end to a spending boom on artificial intelligence chips, projecting opportunities will expand into a multi-trillion-dollar market over the next five years. Huang sought to reassure investors rattled by indications of slowing growth at the chipmaker at the center of the investment frenzy. Nvidia earlier in the day forecast third-quarter revenue meeting analyst estimates but short of the lofty expectations t
Aug. 28, 2025 -
US tariffs on Brazil will reshape global beef trade flows
SAO PAULO (Reuters) -- Higher US tariffs on Brazil are expected to reshape global beef trade flows, sparking increased shipments to the US from countries like Mexico and Australia while Brazil seeks alternative markets, analysts said Wednesday. Brazil is the world's largest beef exporter, with China as its main trading partner. In August, Mexico overtook the US to become its second-largest export destination for the commodity. "It is very likely that countries that can triangulate Brazilian beef
Aug. 28, 2025 -
Trump's doubling of tariffs on Indian imports takes effect
WASHINGTON/NEW DELHI (Reuters) -- US President Donald Trump's doubling of tariffs on goods from India to as much as 50 percent took effect as scheduled Wednesday, escalating tensions between the world's two largest democracies and strategic partners. A punitive 25 percent tariff imposed due to India's purchases of Russian oil adds to Trump's prior 25 percent tariff on many products from India. It takes total duties to as high as 50 percent for goods such as garments, gems and jewellery, footwear
Aug. 27, 2025 -
Fed governor will sue Trump to keep her job
WASHINGTON (Reuters) -- Federal Reserve Gov. Lisa Cook will file a lawsuit to prevent President Donald Trump from firing her, a lawyer for the embattled central bank official said Tuesday, kicking off what could be a protracted legal fight over the White House's effort to shape US monetary policy. "His attempt to fire her, based solely on a referral letter, lacks any factual or legal basis. We will be filing a lawsuit challenging this illegal action," Cook's lawyer, prominent Washington attorney
Aug. 27, 2025 -
Trump wants more deals like Intel's, worrying business community
WASHINGTON (Reuters) -- US President Donald Trump said he wants to make more investments in healthy US companies Monday. Whether Corporate America is on board is another story. The White House announced a near-10 percent stake in chipmaker Intel Friday that converts government grants into an equity share. Trump doubled down on the idea of similar deals in other sectors Monday, telling reporters at the White House, "I hope I'm going to have many more cases like it." The administration's approach
Aug. 26, 2025 -
Modi dangles tax cuts as US tariffs loom
FOCUS MUMBAI (AFP) -- Indian Prime Minister Narendra Modi's push to slash consumption taxes on everyday goods could deliver billions of dollars in annual relief and boost demand in an economy bracing for painful US tariffs, experts say. US President Donald Trump has threatened to double import duties on India from 25 to 50 percent to punish New Delhi for buying oil from Russia, saying the purchases help Moscow fund its invasion of Ukraine. The prospective measure has clouded the outlook for the
Aug. 25, 2025 -
Powell faces fresh challenges to Fed independence amid potential rate cuts
WASHINGTON (AP) — Now that Federal Reserve Chair Jerome Powell has signaled that the central bank could soon cut its key interest rate, he faces a new challenge: how to do it without seeming to cave to the White House’s demands. For months, Powell has largely ignored President Donald Trump’s constant hectoring that he reduce borrowing costs. Yet on Friday, in a highly-anticipated speech, Powell suggested that the Fed could take such a step as soon as its next meeting in September. It will be a f
Aug. 24, 2025