News

PPP presidential hopefuls present vision; DP to hold first televised debate

2025/04/18 20:00

Thank you for joining us. I'm Bae Eun-ji. Partisan primaries are in full gear ahead of the election set for June 3rd. The People Power Party held a round table today with its presidential hopefuls, each speaking on the country's future. And later this evening, the Democratic Party's presidential contenders will face off in their first televised debate. Our political correspondent Shin Ha-young starts us off. As the presidential election gets closer, both rival parties are stepping up the pace in their primaries. The People Power Party held a party vision presentation on Friday, where each primary presidential candidate had nine minutes to speak freely on the theme of South Korea's future, following a pre-drawn speaking order. One name that came up among all the contestants, including Kim Moon-soo , Han Dong-hoon and Hong Joon-pyo , was Democratic Party front-runner Lee Jae-myung, as each candidate claimed they were the one best positioned to defeat him. Ahead of the candidates' speech, the PPP floor leader also called for ways to stop wrongdoing by Lee's political faction. "Candidates should explain how they plan to stop the wrongdoing of Lee Jae-myung's political faction if elected president. Please show that the PPP offers a more hopeful and better vision for South Korea than his." The candidates also emphasized that they had no legal risks, while targeting Lee's legal troubles. Friday's presentation was held ahead of the party's first round of debates set for this weekend, with the candidates divided into two groups of four. Meanwhile, the Democratic Party has framed the presidential election as a way to end the insurrection scandal and restore the country to normal. "This presidential election is about ending the insurrection and getting the country back on track. What drives change in government and leads to winning the election is the interest and participation of the people." The DP primary candidates will face off in their first televised debate on Friday evening. The 80-minute debate will begin at 8:30 PM, covering politics, the economy, foreign affairs, and social issues. All three candidates have shared a common pledge to fully establish Sejong City, located within Chungcheong-do Provinces, located within Chungcheong-do Provinces, as South Korea's administrative capital, proposing to relocate the presidential office there. Investing in AI has also been a key focus for the candidates. With these issues on the table, the debate is expected to heat up, especially over these policies. Tensions are also expected over tax policy, with preliminary candidates Kim Kyung-soo and Kim Dong-yeon supporting tax hikes, in contrast to Lee Jae-myung. Shin Ha-young, Arirang News.

U.S. strikes Yemen fuel port; Houthis report at least 38 killed

2025/04/18 20:00

U.S. military airstrikes on Yemen's Ras Isa fuel port on Thursday killed at least thirty-eight people and injured over one-hundred. That's according to media affiliated with the Iran-backed Houthi militants. While U.S. Central Command did not comment on the casualty figures, it stated that the strikes were aimed at cutting off the funding and resources to the Houthis. If confirmed, this would mark one of the deadliest attacks, under the Trump administration, since the U.S. launched its biggest military operation in the Middle East last month. The United States has pledged to continue its strikes until the Houthis halt their attacks on Red Sea shipping routes.

Trump says Ukraine close to signing minerals deal with U.S. as peace talks start in France

2025/04/18 20:00

A critical minerals deal may finally be sealed between the U.S. and Ukraine amid efforts to ensure a ceasefire to halt Russia's aggression against Kyiv. Byeon Ye-young reports. U.S. President Donald Trump said Thursday that Washington and Kyiv could sign a minerals and economic cooperation deal as early as next week. "Well, we have a minerals deal, which I guess is going to be signed on Thursday, Scott (Treasury Secretary Scott Bessent), next Thursday, soon. And I assume they're going to live up to the deal, so we'll see. But we have a deal." While Treasury Secretary Scott Bessent later clarified the likely signing date as April 26th, the agreement appears close to finalization. Later the same day, Ukraine's First Deputy Prime Minister and Economy Minister Yulia Svyrydenko announced on X that Ukraine and the U.S. had signed a memorandum of intent. Although she did not mention a minerals deal directly, she wrote that the memorandum would pave the way for economic cooperation and Ukraine's reconstruction, adding that the final agreement would benefit both nations. When asked about Russia's response to a ceasefire proposal, Trump said he expected a reply soon and reaffirmed his desire to end the war. "We'll see what that will be. We're gonna be hearing from them this week, very shortly, actually. And we'll see, but we want it (the war) to stop. We want the death and the killing to stop." Meanwhile, Ukraine and the U.S. joined Germany, France and the U.K. for high-level talks in France to discuss ending the war. The participants expressed support for Trump's peace efforts and discussed steps toward a lasting peace — including a full ceasefire, deployment of multinational troops, and stronger security guarantees for Ukraine. The five nations are set to reconvene in London the following week to move toward a comprehensive end to the Russia-Ukraine war. Byeon Ye-young, Arirang news.

Powell's termination cannot come fast enough: Trump

2025/04/18 20:00

In related news. Trump snapped back at Fed Chair Jerome Powell, a day after the central banker warned of potential economic consequences such as inflation, in the face of sweeping tariffs. However, national banks around the world appear to be on the same page as Powell. Lee Seung-jae reports. U.S. President Donald Trump continued to increase the pressure on U.S. Fed chairman Jerome Powell on Thursday, stressing that he should lower interest rates. He also said Powell's "termination cannot come fast enough." Trump's comments on Powell came a day after the U.S. Fed chair warned of potential economic consequences from U.S. tariff policies, saying they would likely generate "higher inflation and slower growth." Trump also responded to a reporter's comment at the Oval Office on the same day, that Powell said he wouldn't leave his post even if told to by the U.S. leader. "Oh, he'll leave, if I ask him to he'll be out of there. I don't think he's doing the job. He's too late. Always too late. A little slow, and I'm not happy with him. I let him know it. And if I want him out, he'll be out of there real fast, believe me." However,.. Powell's concerns appear to have been echoed by other central banks around the world. This includes the European Central Bank President Christine Lagarde, who said the sharp increase in tensions in international trade and the resulting uncertainty are likely to reduce exports in the euro zone and lower growth. World Bank President Ajay Banga also expressed his concerns over Trump's tariff policies earlier this week, stressing that tariff hikes create conflicts that result in lower transparency and growth. International organization are also warning of an economic slowdown. The World Trade Organization said international trade volumes will decrease this year, while the International Monetary Fund said that there will be a notable downward revision in the new economic outlook report to be released next week. Lee Seung-jae, Arirang News.

Trump says U.S. will make deal with China over the next 3-4 weeks

2025/04/18 20:00

Over in the U.S., President Donald Trump has shown confidence on reaching a trade deal with China, saying it's just weeks away as other countries line up to negotiate tariffs. Meanwhile, Washington also rolled out new port fees targeting Chinese ships, potentially a win for Korean shipbuilders. Our Shin Se-byuck has the latest. U.S. President Donald Trump says he believes trade negotiations with China will be done over the next 3 to 4 weeks. "We'll have a deal. I think we're going to make a very good deal with China. I think that you will see we'll make a good deal with China." During an executive order signing ceremony on Thursday, Trump said the U.S. is in talks with China, adding that Beijing had reached out several times. Earlier the same day, during his meeting with Italian Prime Minister Giorgia Meloni, Trump also brushed off concerns about China allying with Southeast Asian nations to counter U.S. tariffs, adding that "nobody can compete with" Washington. Meanwhile, in a move to curb China's influence in the global shipbuilding and shipping sectors and promote U.S.-built vessels, Washington announced new port fees targeting Chinese ships. The U.S. Trade Representative's office said Thursday that port entry fees will be imposed on Chinese shipping companies, firms operating Chinese-built ships, and foreign-made car carriers. The fees will be introduced gradually starting October 14, 180 days after the announcement. The rate will begin at 50 U.S. dollars per net tonnage and rise annually to reach 140 dollars per ton by 2028. Industry watchers say the move is expected to benefit South Korean shipbuilders, which compete directly with China. Until now, many shipping companies have opted for more affordable Chinese-built vessels, but with the added cost burden, orders may shift toward Korean shipyards. Shin Se-byuck, Arirang News.

"Freedom Flag," S. Korea and U.S. large-scale joint air exercise kicks off its two-week run

2025/04/18 20:00

South Korea and the U.S.' joint large-scale air drill the "Freedom Flag", began its two-week journey this week. Our defense correspondent Kim Bo-kyung had a chance to get a closer look. Fighter jets fly through the air, making thunderous sounds. This, as part of South Korea and the U.S.' large-scale joint air power exercise the "Freedom Flag" at Gwangju Air Base. Held two times in a year, combining "Korea Flying Training"과 "Vigilant Defense, " this over two-week journey began on Thursday. Aiming to advance combined air power capabilities, while improving interoperability between pilots from both countries, the 24-hour operating Mission Planning Cell organizes the exercise, for pilots to embark on their missions. Approximately 11-hundred personnel join the drill, and more than 90 aircraft, including unmanned aerial vehicles such as U.S. MQ-9, take part in the event. "This drill will serve as a chance to further strengthen the combined defense posture and enhance our joint response capabilities against various threats on future battlefields." Another notable part is that the drill will also be based on complex scenarios against a high-level simulated threat, involving an advanced stealth jet. "This is a U.S. Marine Corps' F-35B, one of the U.S. stealth fighter jets that came from Japan. Along with ROK F-35As,. these fifth-generation jets will play the role of "red air" enemy aircraft for the first time during the exercise." "By putting a stealth fighter, our most capable, on the red side, it gives our pilots, our airbound managers, everyone involved, a more difficult problem to try and solve. So, by going against a capable threat, we're just enhancing our own capability through these missions." By carrying out high-level air-to-air combat missions, and working side by side, South Korea and the U.S. expect bolstered trust, building upon the alliance. Kim Bo-kyoung, Arirang News, Gwangju.

Korean Democracy from 4.19 to Impeachment: Growth and challenges through the eyes of international experts

2025/04/18 20:00

Welcome to Within The Frame, where we bring the most pressing issues across the globe into focus. I'm Kim Mok-yeon. South Korea's democratic evolution has been fast and hard-fought — from the April 19 Revolution in 1960 to the impeachment of two presidents in a little over a decade. These events reflect not only political turbulence, but also the strength of a civic culture that continues to push for accountability and reform. Recent developments — most notably the impeachment of President Yoon Suk Yeol — have sparked new debate about the state of Korean democracy: its resilience, its institutions, and the public's role in shaping it. At the same time, concerns are rising about political polarization, generational divides, and democratic backsliding, as noted in recent international reports. Today, we ask: How far has Korean democracy come? What challenges lie ahead? And what lessons can be drawn from its unique path? For answers to this, we connect to Mark Peterson, Professor of Korean Studies at Brigham Young University, Welcome. Also joining us is Alexis Dudden, Professor of History at the University of Connecticut. Great to have you. 1. (Peterson) Professor Peterson, democracy in South Korea has undergone numerous experiences in a short period, from the April 19 Revolution to the recent impeachment of former President Yoon Suk-yeol. As someone who has long studied Korean history and democracy that you even wrote a paper on the May 18 Democratization Movement, how developed would you say Korean democracy is today? 2. (Dudden) Now to Prof.Dudden, in particular, what significance do you think the recent impeachment of former President Yoon Suk Yeol holds for Korean democracy? And what implications does it have for other countries? 3. (Peterson) So, Prof. Peterson, South Korea has gone through the democratic process of impeaching a president twice. How do you assess the impact of these experiences on the institutional maturity of Korean democracy? 4. (Peterson) Compared to the West, Korea has a shorter history of democracy. Yet it has relatively steadily and consistently achieved democratic consolidation. What do you think is behind this? 5. (Dudden) Korea's democracy is often seen to have advanced through large-scale protests such as the May 18 Democratic Uprising and the candlelight rallies during former President Park Geun-hye's impeachment. Prof.Dudden, in this latest impeachment of former President Yoon, protests were largely driven by younger generations. How do you see this culture of protest influencing Korean democracy? 6. (Peterson) On the other hand, the V-Dem Institute under the University of Gothenburg in Sweden recently published its Democracy Report 2025, which stated that Korea's level of democracy declined compared to last year, and that autocratization was underway. What is your opinion on this Prof. Peterson? 7. (Peterson) Then, what do you see as the current threats and challenges facing Korean democracy? 8. (Dudden) Meanwhile, in the aftermath of the impeachment crisis, citizens' political fatigue has intensified. There are concerns that this could lead to decreased trust in political parties or political apathy. Prof. Dudden, what measures do you think are necessary to sustain civic engagement for the long-term development of Korean democracy? 9-10. (Both) Amid challenges such as political polarization and the crisis of trust in the media, in what direction do you think Korean democracy should head?

Trump says U.S. will make deal with China over the next 3-4 weeks

2025/04/18 17:00

We start in the U.S. today where much optimism has been shared about a potential deal on trade with China in the foreseeable future. Our Shin Se-byuck has the latest. U.S. President Donald Trump says he believes trade negotiations with China will be done over the next 3 to 4 weeks. "We'll have a deal. I think we're going to make a very good deal with China. I think that you will see we'll make a good deal with China." During an executive order signing ceremony on Thursday, Trump said the U.S. is in talks with China, adding that Beijing had reached out several times. Earlier the same day, during his meeting with Italian Prime Minister Giorgia Meloni, Trump also brushed off concerns about China allying with Southeast Asian nations to counter U.S. tariffs, adding that "nobody can compete with" Washington. Meanwhile, in a move to curb China's influence in the global shipbuilding and shipping sectors and promote U.S.-built vessels, Washington announced new port fees targeting Chinese ships. The U.S. Trade Representative's office said Thursday that port entry fees will be imposed on Chinese shipping companies, firms operating Chinese-built ships, and foreign-made car carriers. The fees will be introduced gradually starting October 14, 180 days after the announcement. The rate will begin at 50 U.S. dollars per net tonnage and rise annually to reach 140 dollars per ton by 2028. Industry watchers say the move is expected to benefit South Korean shipbuilders, which compete directly with China. Until now, many shipping companies have opted for more affordable Chinese-built vessels, but with the added cost burden, orders may shift toward Korean shipyards. Shin Se-byuck, Arirang News.

PPP holds vision conference; DP to hold first televised debate

2025/04/18 17:00

On the political front. Partisan primaries are in full gear. The People Power Party held a round table today with its presidential hopefuls each taking nine minutes to speak freely on South Korea's future. Every PPP candidate also claimed that he or she was "best positioned" to defeat the front-runner of their rival party. Meanwhile later on this Friday evening the Democratic Party's presidential contenders will face off in their first televised debate. The 80-minute discussion is scheduled to start at 8:30 P.M and will cover politics the economy foreign affairs and social issues.

Cabinet holds emergency meeting to discuss 12 tril. won supplementary budget

2025/04/18 17:00

Acting President Han Duck-soo chaired an emergency Cabinet meeting earlier on this Friday that approved the government's first supplementary budget in three years worth 12-point-2 TRILLION won or 8-point-4 BILLION U.S. dollars. The extra budget will seek to address urgent national tasks including wildfire recovery disaster preparedness and trade as well as AI competitiveness. It will also ramp up support for small businesses and vulnerable groups affected by recent economic challenges. A total of 93 projects across 14 ministries have been selected for immediate execution of such plans this year. To finance this newly proposed budget Seoul will tap into 2-point-9 billion U.S. dollars in reserves and raise the remaining amount by issuing bonds. The budget will head to the National Assembly early next week for approval.

S. Korea sees leverage in shipbuilding and LNG with U.S. trade talks

2025/04/18 17:00

South Korea is betting on its shipbuilding capabilities AND its potential to purchase more American LNG to seal a tariff deal with the U.S. This is according to Foreign Minister Cho Tae-yul while speaking in Vietnam on Thursday the final day of his three-day visit there for trade talks. Pointing out that the Trump administration itself had underscored these two sectors Minister Cho shared hopes to leverage them during bilateral tariff negotiations in Washington next week. South Korea is the world's second-largest shipbuilder after China and it faces a 25-percent U.S. reciprocal tariff while Vietnam faces a 46-percent tariff.

Powell's termination cannot come fast enough: Trump

2025/04/18 17:00

U.S. President Donald Trump publicly rebuked Federal Reserve Chairman Jerome Powell following the latter's remarks about inflation and growth concerns in the face of sweeping tariffs. Lee Seung-jae has details. U.S. President Donald Trump continued to increase the pressure on U.S. Fed chairman Jerome Powell on Thursday, stressing that he should lower interest rates. He also said Powell's "termination cannot come fast enough." Trump's comments on Powell came a day after the U.S. Fed chair warned of potential economic consequences from U.S. tariff policies, saying they would likely generate "higher inflation and slower growth." Trump also responded to a reporter's comment at the Oval Office on the same day, that Powell said he wouldn't leave his post even if told to by the U.S. leader. "Oh, he'll leave, if I ask him to he'll be out of there. I don't think he's doing the job. He's too late. Always too late. A little slow, and I'm not happy with him. I let him know it. And if I want him out, he'll be out of there real fast, believe me." However,.. Powell's concerns appear to have been echoed by other central banks around the world. This includes the European Central Bank President Christine Lagarde, who said the sharp increase in tensions in international trade and the resulting uncertainty are likely to reduce exports in the euro zone and lower growth. World Bank President Ajay Banga also expressed his concerns over Trump's tariff policies earlier this week, stressing that tariff hikes create conflicts that result in lower transparency and growth. International organization are also warning of an economic slowdown. The World Trade Organization said international trade volumes will decrease this year, while the International Monetary Fund said that there will be a notable downward revision in the new economic outlook report to be released next week. Lee Seung-jae, Arirang News.

Trump says Ukraine close to signing minerals deal with U.S. as peace talks start in France

2025/04/18 17:00

A critical minerals deal may finally be sealed between the U.S. and Ukraine amid efforts to ensure a ceasefire to halt the Kremlin's aggression against Kyiv. Byeon Ye-young reports. U.S. President Donald Trump said Thursday that Washington and Kyiv could sign a minerals and economic cooperation deal as early as next week. "Well, we have a minerals deal, which I guess is going to be signed on Thursday, Scott (Treasury Secretary Scott Bessent), next Thursday, soon. And I assume they're going to live up to the deal, so we'll see. But we have a deal." While Treasury Secretary Scott Bessent later clarified the likely signing date as April 26th, the agreement appears close to finalization. Later the same day, Ukraine's First Deputy Prime Minister and Economy Minister Yulia Svyrydenko announced on X that Ukraine and the U.S. had signed a memorandum of intent. Although she did not mention a minerals deal directly, she wrote that the memorandum would pave the way for economic cooperation and Ukraine's reconstruction, adding that the final agreement would benefit both nations. When asked about Russia's response to a ceasefire proposal, Trump said he expected a reply soon and reaffirmed his desire to end the war. "We'll see what that will be. We're gonna be hearing from them this week, very shortly, actually. And we'll see, but we want it (the war) to stop. We want the death and the killing to stop." Meanwhile, Ukraine and the U.S. joined Germany, France and the U.K. for high-level talks in France to discuss ending the war. The participants expressed support for Trump's peace efforts and discussed steps toward a lasting peace — including a full ceasefire, deployment of multinational troops, and stronger security guarantees for Ukraine. The five nations are set to reconvene in London the following week to move toward a comprehensive end to the Russia-Ukraine war. Byeon Ye-young, Arirang news.

Government returns medical student quota to pre-increase level of 3,058

2025/04/18 10:00

The 14-month standoff between the government and medical students is likely to come to an end, with the government retracting its plan to hike medical school seat numbers to address the country's physician shortage. Byeon Ye-young has the details. The government announced on Thursday that the 2026 medical school enrollment quota will be returned to the 2024 level of 3,058 students. "We will push for a legal amendment to allow universities to adjust their 2026 medical school enrollment quotas to 2024 levels." Last year, the government raised the quota by 2,000 to 5,058, but doctors and medical students strongly opposed the move, alleging it would hurt training conditions. This led to a wave of leaves of absence among medical students, resulting in a significant gap in their medical education. Presidents of 40 medical schools proposed that the government restore the original quota for 2026 admissions if all first-year students returned to class. The government accepted the proposal on March 7th but only if a sufficient number of students to ensure classes could proceed without disruption returned by the end of March. A surge in last-minute enrollments at the so-called "Big 5" medical schools led to that number being achieved. While many former students returned, a number opted to "register but not attend." So even after reversing the quota increase, the government still has more to do to get these students back to classes and resolve the healthcare workforce shortage. This raises questions about the future of medical education. "We need to predict how the healthcare landscape will change 10 to 20 years from now, and based on that vision, we should determine how many medical professionals we need and what kind of education they should receive." Universities are now required to submit revised admissions plans that reflect the updated quota to the Korean Council for University Education (KCUE) by the end of this month. The proposed changes will then be reviewed and finalized following KCUE approval, expected around May. Byeon Ye-young, Arirang news.

Cabinet holds emergency meeting to discuss 12 tril. won supplementary budget

2025/04/18 10:00

Acting President Han Duck-soo is convening an emergency Cabinet meeting on Friday to review the government's proposed supplementary budget worth 12 trillion won, or eight-point-four billion U.S. dollars. According to Han's office, the Cabinet will deliberate on plans to funnel two billion dollars for disaster response, including wildfire recovery efforts, two-point-eight billion for boosting trade and competitiveness in Artificial Intelligence, and another two-point-eight to support small business owners. The government increased the total amount from an expected budget worth seven billion dollars, citing pressing needs. Once approved by the Cabinet, the proposal must be reviewed and passed by the National Assembly.

DP to move top office from Seoul to Sejong; PPP kicks off primaries with media day

2025/04/18 10:00

The first stop for the presidential primaries for the three contenders of the Democratic Party is Chungcheong-do, a region considered a key battleground in presidential elections. And the 8 contenders of the People Power Party are now preparing themselves for debates set for this weekend. Our Kim Do-yeon reports. Preliminary presidential candidates from the Democratic Party of Korea unveiled their strategies to boost growth in the Chungcheong-do provinces on Thursday, coinciding with the start of online voting by DP electors the day before. All three candidates shared a common pledge to fully establish Sejong City, located within Chungcheong-do, as South Korea's administrative capital, proposing to relocate the presidential office there. This pledge also follows a move by impeached President Yoon Suk Yeol, who previously relocated the presidential office from the Blue House to Yongsan—a decision heavily criticized by the DP as an unnecessary budget expenditure, and notably, the site of his martial law declaration. Chungcheong-do remains a crucial battleground for presidential candidates; notably, the winner of this region has also secured victory in the last seven presidential elections. Meanwhile, the People Power Party held a media day for its primary contestants on Thursday. With eight contestants, they broke the first round debates into two groups by topic. Future for the young generations and social unity. The future for the young generations debate will be held by Yoo Jeong-bok, Ahn Cheol-soo, Kim Moon-soo, and Yang Hyang-ja on Saturday. Social unity by Lee Cheol-woo, Na Kyung-won, Han Dong-hoon, and Hong Joon-pyo on Sunday. The People Power Party also launched its preparatory committee for the presidential election. Chaired by lawmaker Yun Jae-ok, the committee is set to prepare for the PPP presidential election campaign once the party's candidate is chosen. Yun said it's long overdue as the prep should've started before but said, "the tortoise beat the hare." Kim Do-yeon, Arirang News.

Ukraine-U.S. minerals deal could be signed by next week: Trump

2025/04/18 10:00

Onto the latest on the Ukraine war. Trump said Thursday that Washington and Kyiv could sign a minerals and economic cooperation deal as soon as next Thursday. Speaking to reporters at the White House, the U.S. president added that he "assumes" Kyiv will "live up to the deal." Trump also said that while he doesn't hold Ukrainian President Volodymyr Zelenskyy "responsible" for Russia's invasion, he is "not a big fan" of the Ukrainian leader. Also on Thursday, U.S. and Ukrainian officials held talks with their British, French, and German counterparts. Ukraine and the three European countries expressed their shared support for Trump's efforts to bring an end to the war. More meetings in the same format will take place next week in London.

Powell's termination cannot come fast enough: Trump

2025/04/18 10:00

U.S. President Donald Trump snapped back at the Fed Chair Jerome Powell, a day after Powell warned of potential economic consequences from tariffs. However, central banks around the world appear to be on the same page as Powell. Lee Seung-jae reports. U.S. President Donald Trump continued to increase the pressure on U.S. Fed chairman Jerome Powell on Thursday, stressing that he should lower interest rates. He also said Powell's "termination cannot come fast enough." Trump's comments on Powell came a day after the U.S. Fed chair warned of potential economic consequences from U.S. tariff policies, saying they would likely generate "higher inflation and slower growth." Trump also responded to a reporter's comment at the Oval Office on the same day, that Powell said he wouldn't leave his post even if told to by the U.S. leader. "Oh, he'll leave, if I ask him to he'll be out of there. I don't think he's doing the job. He's too late. Always too late. A little slow, and I'm not happy with him. I let him know it. And if I want him out, he'll be out of there real fast, believe me." However,.. Powell's concerns appear to have been echoed by other central banks around the world. This includes the European Central Bank President Christine Lagarde, who said the sharp increase in tensions in international trade and the resulting uncertainty are likely to reduce exports in the euro zone and lower growth. World Bank President Ajay Banga also expressed his concerns over Trump's tariff policies earlier this week, stressing that tariff hikes create conflicts that result in lower transparency and growth. International organization are also warning of an economic slowdown. The World Trade Organization said international trade volumes will decrease this year, while the International Monetary Fund said that there will be a notable downward revision in the new economic outlook report to be released next week. Lee Seung-jae, Arirang News.

S. Korea sees leverage in shipbuilding and LNG with U.S. trade talks

2025/04/18 10:00

And ahead of South Korea-U.S. tariff talks, Seoul's Foreign Minister Cho Tae-yul said South Korea is trying to reach good outcomes through talks on industries like shipbuilding and LNG. During his visit to Vietnam, Cho said that President Trump specifically mentioned those sectors. He said these are areas where only countries like South Korea or Japan can really compete, giving the country strong "leverage." Minister Cho also said the Trump administration seems to want to prioritize talks with certain countries for better results, and that South Korea plans to stay in close contact with Vietnam in responding to U.S. tariffs.

Trump says U.S. will make deal with China over the next 3-4 weeks

2025/04/18 10:00

The Trump administration has buckled down to holding tariff talks with the top 15 economies. Now, that could include China with Trump now hinting a deal with Beijing could be sealed within a month. Our Choi Soo-hyung starts us off. U.S. President Donald Trump says he believes trade negotiations with China will be done over the next 3 to 4 weeks. "We'll have a deal. I think we're going to make a very good deal with China. I think that you will see we'll make a good deal with China." He said the U.S. is in talks with China, adding that Beijing had reached out several times. On Thursday local time, during a meeting in White House with Italian Prime Minister, Giorgia Meloni, President Trump also said that he's not concerned about Chinese President Xi Jinping, building alliances during his Southeast Asia tour in response to U.S. tariffs. Meanwhile, as the U.S. begins tariff negotiations with other countries during a 90-day pause, President Trump said on Wednesday local time that he had very productive talks with Japan and Mexico. He posted on his social media that he made great progress in talks with the Japanese trade delegation led by Minister for Economic Revitalization, Ryosei Akazawa. However, on Thursday, Japanese Prime Minister Shigeru Ishiba said there are still differences between the two countries and announced plans to meet directly with President Trump. President Trump emphasized that while other countries want to negotiate more than the U.S., it's the U.S. that decides the deals. U.S. Treasury Secretary Scott Bessent also said they are prioritizing negotiations with the world's major economies. "We're working on the big 15 economies first. We had a fantastic meeting with Japan yesterday. I believe there's been calls with the EU already. And then we have South Korea coming in next week." South Korea's Deputy Prime Minister and Minister of Economy and Finance, Choi Sang-mok, and Trade Minister Ahn Duk-geun are expected to visit Washington soon. Choi Soo-hyung, Arirang News.