The US reached a trade agreement with South Korea that will impose a 15% tariff on imports, including autos, and sets up major investment in American energy and shipbuilding. The agreement, announced by President Donald Trump and confirmed by officials in Seoul, brings one of the world’s biggest exporters from a 25% rate just a day before the deadline. The agreement includes a $350 billion South Korean fund for US investments. The won weakened against the dollar after a bounce at the open and shares in Seoul erased early gains.
President Donald Trump also said he would impose a tariff of at least 25% on India’s exports to the US starting Friday, though later added that the two sides were still in talks. “Also, they have always bought a vast majority of their military equipment from Russia, and are Russia’s largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE,” he posted on social media. “INDIA WILL THEREFORE BE PAYING A TARIFF OF 25%, PLUS A PENALTY FOR THE ABOVE, STARTING ON AUGUST FIRST.”
The Opening Trade has everything you need to know as markets open across Europe. With analysis you won’t find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Kriti Gupta.
Chapters:
00:00:00 – The Opening Trade
00:02:20 – Anglo American Earnings
00:03:15 – Shell Earnings
00:06:32 – MSFT Stock, Meta Earnings
00:09:24 – LSEG CEO David Schwimmer
00:17:33 – Shell CEO Wael Sawan
00:25:55 – Credit Agricole’s Clotilde L’Angevin
00:35:06 – BOJ’s Ueda on Japan Tariffs
00:37:27 – France Inflation
00:39:53 – Trump Slams India, Russia
00:40:56 – US-Korea Trade Deal
00:41:36 – Korean Stocks
00:47:24 – Stocks to Watch: Rolls Royce, Banks AB inBev
01:03:52 – Anglo American CEO
01:13:13 – Rolls Royce Shares Hit Record High
01:32:41 – BAE Systems CFO on Defense Stocks
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