Maria Eugenia Diaz Batres, a biologist, looks at cocoons of moths hanging from a clothesline in the gardens of the Natural History Museum in Mexico City, Thursday, May 29, 2025. (AP Photo/Marco Ugarte)
Bank of Korea Governor Rhee Chang Yong said there could be additional rate cuts in coming months, citing the worsened outlook for the economy. But he also cautioned against lowering borrowing costs too quickly, given the country’s high household debt and real estate prices.“If rates are lowered too quickly, there’s a high risk that liquidity will flow into asset prices like housing rather than boosting the real economy,” he said in a news conference. “Any base rate adjustment must take into account its impact on the real estate prices and household debt in the Seoul region,” he said, referring to the country’s capital area where house prices are highest.
Since beginning his second term,to slap huge new tariffs on foreign products entering the United States, including those from Mexico, Canada and China, which he insists will create more domestic jobs and shrink the federal deficit.In recent weeks, South Korea has sent trade officials to Washington to discuss the Trump administration’s trade measures, including reciprocal tariffs and potential product-specific duties on semiconductors and cars, which are major exports for the country’s trade-dependent economy.
A decision by a U.S. federal court saying Trump lacks the legal authority to impose such tariffs could upset his plans, but the White House has appealed and it’s unclear what will happen in the longer run.Experts say South Korea’s leverage in trade talks and its ability to tackle domestic economic challenges have been undermined by political instability after former President
in December. Yoon was formally ousted from office in April, setting the stage for a snap presidential election next week.
NAIROBI, Kenya (AP) — Two Belgian teenagers who wereTrump’s rhetoric also appeared to be a tactic to shift blame for setbacks to his agenda — this time notably pointing the finger at a person who once helped Trump build credibility with conservative voters. But it’s unclear what — if anything — Leo had to do with the tariff decision.
Leo said that neither he nor the Federalist Society was involved in shaping appointments to the trade court. He offered only praise for Trump.“I’m very grateful for President Trump transforming the Federal Courts, and it was a privilege being involved,” he said in a statement. “There’s more work to be done, for sure, but the Federal Judiciary is better than it’s ever been in modern history, and that will be President Trump’s most important legacy.”
Trump’s fury came via Truth Social after the court tried to halt the central plank of the president’s economic agenda:that have rattled global financial markets, dismayed longtime trading partners, and prompted warnings about higher prices and inflation.