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: 2025.07.03
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S. Korea's President Lee: US tariff negotiations looking very difficult
World FX news
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S. Korea's President Lee: US tariff negotiations looking very difficult
New
2025.07.03 11:42
2025.07.03 11:42
2025.07.03 11:42
South Korean President Lee Jae-myung said on Thursday that "US tariff negotiations looking very difficult."
Additional quotes
Doing best to derive national interest-centered, practical, and win-win results in trade negotiations between South Korea and the US.
Must improve relations with North Korea based on securing US-South Korea alliance.
Cannot say if can conclude US tariff talks by July 8.
Two sides are not really clear on what they want concerning tariff talks.
Tariffs FAQs
Tariffs are customs duties levied on certain merchandise imports or a category of products. Tariffs are designed to help local producers and manufacturers be more competitive in the market by providing a price advantage over similar goods that can be imported. Tariffs are widely used as tools of protectionism, along with trade barriers and import quotas.
Although tariffs and taxes both generate government revenue to fund public goods and services, they have several distinctions. Tariffs are prepaid at the port of entry, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and businesses, while tariffs are paid by importers.
There are two schools of thought among economists regarding the usage of tariffs. While some argue that tariffs are necessary to protect domestic industries and address trade imbalances, others see them as a harmful tool that could potentially drive prices higher over the long term and lead to a damaging trade war by encouraging tit-for-tat tariffs.
During the run-up to the presidential election in November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy and American producers. In 2024, Mexico, China and Canada accounted for 42% of total US imports. In this period, Mexico stood out as the top exporter with $466.6 billion, according to the US Census Bureau. Hence, Trump wants to focus on these three nations when imposing tariffs. He also plans to use the revenue generated through tariffs to lower personal income taxes.
Last updated
: 2025.07.03
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USD/JPY trades cautiously positive around 144.00 ahead of key US data
The USD/JPY pair edges higher to near 143.90 during European trading hours on Thursday. The pair trades cautiously higher as the US Dollar (USD) ticks up ahead of the United States (US) Nonfarm Payrolls (NFP) data for June, which will be published at 12:30 GMT.
New
2025.07.03 19:08AUD/USD: Expected to trade in a range of 0.6550/0.6595 - UOB Group
Australian Dollar (AUD) is expected to trade in a range of 0.6550/0.6595 against US Dollar (USD). In the longer run, should AUD break clearly above 0.6595, it could trigger a further rise toward 0.6620, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
2025.07.03 18:56DXY: Eyes on payrolls, ISM services - OCBC
US Dollar (USD) traded mixed overnight, with losses seen vs. TWD, THB and precious metals but traded largely firmer against most currencies including GBP, AUD, NZD and MYR. DXY was last at 96.83 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
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2025.07.03 18:53GBP/USD: Likely to trade between 1.3585 and 1.3705 - UOB Group
Pound Sterling (GBP) is likely to trade in a range, probably between 1.3585 and 1.3705. In the longer run, week-long positive outlook has been negated; for a continued down-move, GBP must first close below 1.3560, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
2025.07.03 18:40USD/CHF upside attempts remain limited below 0.7945 ahead of the US NFP report
The US Dollar is trading with marginal gains for the second consecutive day on Thursday, but it seems unable to put any significant distance from the 14-year lows hit earlier this week, with price action limited below 0.7945.Earlier on Thursday, Switzerland's Consumer Price Index data revealed an un
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2025.07.03 18:38USD: Too early to say we've reached 'peak bearishness' on the USD - ING
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2025.07.03 18:30AUD/JPY treads water above 94.50 due to signs of BoJ delaying rate hikes
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2025.07.03 17:56Disclaimer:
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