S. KOREA AND U.S. AGREE ON 15% TRUMP TARIFF

Welcome to Press Perspective.

It's August first here in Seoul.

I'm Min Sunhee.

COUNTRY-specific U.S. tariffs on all imports into its market are going into effect on August 7th according to an order signed by the U.S. leader on Thursday.

For more on America's import duties on its friends and foes I have freelance journalist Raphael Rashid here in the studio.

Raphael welcome back.

I also have Professor Oh Joon-seok at Sookymyung Women's University live on the line with the pundit's take.

Professor Oh it's a pleasure to have you with us.

Raphael, let's begin with details of the trade deal sealed between South Korea and the U.S.

Professor Oh, what is your assessment of deal between South Korea and the U.S.?

Raphael, on a more optimistic note.

Samsung recently inked an AI chip deal with Tesla.

Do tell us more about this deal.

Professor Oh, what are the broader implications of this business deal for Samsung?

Meanwhile, Raphael, the International Monetary Fund recently raised its growth projection for the global economy this year.

What is the new projection, and what are the respective outlooks for individual countries?

Professor Oh, the growth outlook for the global economy has been raised, but the forecast for South Korea has been lowered further.

How do you explain this discrepancy? Should we be worried?

Raphael, we have some time left so let's REVISIT the topic of tariffs.

So what's the latest with regard to U.S. tariff talks with its other trade partners?

Professor Oh, how do U.S. tariffs look to affect South Korea's exports in the second half of this year?

Raphael, beyond borders here, some pundits claim the tariff deal sealed between the U.S. and the EU will simply benefit the UK.

Do give us some context.

Professor Oh, back here in Korea.

The president has pledged the creation of a fund to fuel the next two decades of economic growth.

Do tell us a bit about this blueprint and your takeaways.

All right.