Seoul's trade envoy, Yeo Han-koo, suggested that Washington has some regrets about the recent immigration raid in Georgia that detained hundreds of South Koreans. The US and South Korea are negotiating details of a bilateral deal, with Industry Minister Kim Jung-kwan meeting Commerce Secretary Howard Lutnick in Washington last week. The South Korean government will review whether any human rights violations were committed during the raid, which saw around 475 people arrested at a Hyundai-LG battery plant. US President Donald Trump stated he wants foreign companies to bring experts for training Americans, and expressed a willingness to learn from them.
The US is set to begin applying a 15% tariff on Japanese autos starting Tuesday, while Korean cars will face a 25% levy. This follows a bilateral trade deal that lowers tariffs on Japanese automobiles and parts to 15% from the current 27.5%. In contrast, Korean autos are subject to a sectoral tariff of 25%, putting them at a disadvantage. The US has also agreed to lower the tariff on Korean autos to 15%, but it remains uncertain when this deal will take effect amid ongoing negotiations over its specifics.
US Treasury Chief Bessent suggests that the US will impose tariffs on China unless Europe takes action first, amid a recent thaw in rhetoric between Trump and Modi. The US is willing to work with European countries to consider steeper sanctions on Russian entities, including oil majors Rosneft and Lukoil. This could involve seizing small portions of the $300 billion in frozen Russian assets, which could serve as collateral for a loan to Ukraine.
Vietnam's economic growth is projected to slow to 6.5% this year due to the effects of US tariffs, according to the International Monetary Fund (IMF). Last year's growth was 7.09%, and the IMF warns that deceleration will continue next year as one-off government stimulus measures unwind. The IMF notes that downside risks are high, citing the potential for further escalation in global trade tensions or tightening of global financial conditions, which could weaken exports and investment.
Australia is upgrading its defence ties with Papua New Guinea (PNG) as China's Pacific influence grows. The new security pact will integrate the nations' defence forces, allowing citizens to serve in either military with Australia offering citizenship as an incentive. Australian Prime Minister Anthony Albanese and PNG Defence Minister James Marape will sign the pact on Wednesday, a day after celebrating PNG's 50th anniversary of independence from Australia.
The US embassy in Taipei has accused China of intentionally mischaracterizing World War Two-era documents, including the Cairo Declaration and Potsdam Proclamation, to pressure Taiwan and isolate it from the international community. China claims these documents support its sovereignty over Taiwan, citing language that states the island was to be 'restored' under Chinese rule. However, the US argues that these agreements made no determination of Taiwan's ultimate political status, while China asserts that the Republic of China had no right to claim Taiwan due to the non-existence of Mao's People's Republic of China at the time.
Former UK Prime Minister Winston Churchill's 1940 warning about opening a quarrel between the past and present is echoed in a recent attempt to broker a deal between Donald Trump and Keir Starmer. The two leaders aim to strengthen their countries' economies, with a focus on China and the global market. By working together, they hope to build a deeper partnership that will keep the West safer and stronger.
Deputy Prime Minister/Foreign Minister Mohammad Ishaq Dar met with Egyptian Foreign Minister Badr Abdelatty on Sunday during the preparatory Foreign Ministers' meeting for the Emergency Arab-Islamic Summit in Doha. They condemned Israeli strikes on Qatar and other Muslim nations, calling them blatant violations of sovereignty and international law. Both reaffirmed their support for the Palestinian cause and emphasized the need for unity across the Muslim Ummah.
India and the EU are working to expedite free trade agreement (FTA) negotiations by finding common ground on all issues. European Commission President Goffin met with Indian Commerce Minister Piyush Goyal in Brussels to discuss the matter. The talks aim to create a mutually beneficial agreement, with no specific details on what issues are being converged upon.