South Korea unable to pay $350 billion in cash under trade pact

Seoul and Washington agreed in July to a $350 billion investment pledge as part of a broader trade deal to lower US tariffs to 15% from 25%, but the two sides remain divided over how it should be structured. South Korean officials are seeking loans and a bilateral currency swap arrangement with the US to soften the economic impact, noting that the sum represents more than 80% of its foreign reserves.

from News-Economic Times https://ift.tt/pbwYRkq
via IFTTT

Comments

Post a Comment

Popular posts from this blog

Zach Bryan ‘With Heaven On Tour’: Country singer to embark on international tour across Europe and North America in 2026; check tour dates and venues as presale registration begins soon

Country music star Zach Bryan is set for a massive 2026. His 'With Heaven On Tour' will span Europe and North America. The tour begins in March, 2026, in St. Louis. It features over 40 dates and includes stops at major stadiums. Presale tickets will be available soon. The tour supports his upcoming album, 'With Heaven on Top'. from News-Economic Times https://ift.tt/Wwi1xO3 via IFTTT
Read more

Uncle Sam vs Dragon: US, China trade barbs over role in Bangladesh ahead of elections

The US and China are engaged in a diplomatic spat over their influence in Bangladesh ahead of elections. Beijing criticized US Ambassador Brent Christensen's remarks on Chinese influence, calling them "irresponsible and utterly unfounded." The US, meanwhile, is reportedly engaging with the radical Jamaat-e-Islami party, raising concerns. from News-Economic Times https://ift.tt/P3Hr2VY via IFTTT
Read more

Peace clause invoked 6th time to offer rice subsidies

India has invoked the peace clause at the WTO for the sixth time after exceeding the 10% subsidy ceiling for its rice farmers, reaching around 12% with $6.81 billion in subsidies. The country explained that the support is aimed at ensuring food security for its poor and vulnerable population. from News-Economic Times https://ift.tt/4ecKWFt via IFTTT
Read more