South Korea secured $165 million in foreign direct investment from four European companies and signed a digital trade agreement with the EU, aiming to deepen economic ties amid global geopolitical risks and trade protectionism.
The EU and South Korea signed a new digital trade agreement at their 11th summit in Brussels. The deal aims to reduce digital trade barriers and enhance legal certainty, complementing a decade-old free trade agreement. Discussions also covered economic security, supply chain resilience, and security cooperation, with a focus on semiconductors and condemnation of North Korea's actions.
South Korea and the EU signed a Digital Trade Agreement (DTA) to expand e-commerce cooperation. The DTA replaces and significantly expands the e-commerce provisions of the 2011 FTA, increasing them from 2 articles to 40, covering areas like consumer protection and cybersecurity.
The US administration has proposed a 25% tariff on imports from Brazil, citing unfair trade practices, digital trade issues, and illegal deforestation. The tariffs, to be imposed under Section 301, follow an investigation into Brazil's trade arrangements with Mexico and India. Public comment is open until July 1.
The Trump administration has proposed a 25% tariff on many Brazilian imports, citing unfair trade practices in areas like digital trade and illegal deforestation. The measures, under Section 301, exclude items like beef and coffee and are subject to public consultation.
