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Big tech rules, agriculture among issues in US trade talks with South Korea - The Economic Times
Economic Times
·
2m ago
Medial
South Korea and the U.S. are engaged in trade talks focusing on digital services, agriculture, and other non-tariff issues. South Korea seeks to extend a tariff pause while the U.S. pressures for better access to its agriculture and tech markets. Key concerns include antitrust legislation against big tech and U.S. demands regarding beef imports. Discussions also cover defense costs and industrial cooperation, particularly in shipbuilding, with potential energy collaboration on Alaska's LNG project.
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Indian team back from US; trade talks to continue
Economic Times
·
2m ago
Medial
Indian and US negotiators recently concluded a round of trade talks, focusing on an interim trade agreement, although unresolved issues in agriculture and auto sectors persist. These discussions aim to finalize an interim pact before Trump’s reciprocal tariffs are reinstated on July 9. India resists conceding duty breaks in sensitive sectors like agriculture, while seeking concessions for labor-intensive areas. The overall goal is to significantly increase bilateral trade, with a full agreement anticipated by autumn 2023.
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South Korea delays decision on Google's request for map data exports - The Economic Times
Economic Times
·
1m ago
Medial
South Korea has postponed a decision on Google's request to export map data, following U.S. pressure regarding non-tariff barriers. The delay aims to address South Korea's security concerns, as the nation fears revealing sensitive locations. Google argues the data is publicly accessible and has been reviewed for security. U.S. officials contend restrictions hinder navigation services in Korea, affecting American companies. Despite the postponement, discussions between Google and South Korean authorities continue.
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Elon Musk says Tesla, Samsung Electronics sign chip supply deal - The Economic Times
Economic Times
·
1m ago
Medial
Tesla has signed a significant chip supply deal with Samsung Electronics, reportedly worth $16.5 billion, running through 2033. This partnership aims to support Samsung's struggling chip-making business while enhancing South Korea-U.S. tech relations amid trade discussions. The deal, which highlights a boost for Samsung amid competition from TSMC, is expected to help reduce losses in Samsung’s foundry business, crucial for its market position in advanced chip manufacturing.
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South Korea asks US to resolve chip trade issues as chipmaking import waiver nears expiry
Economic Times
·
1y ago
Medial
South Korea has asked the United States to address uncertainties related to export controls and subsidies for chip investment. The country's industry minister met with a US deputy secretary of commerce in Seoul to discuss the matter. The waiver that allowed Samsung Electronics and SK Hynix to import US chip-making equipment into China is set to expire next month, and it remains uncertain whether it will be extended. South Korea seeks active cooperation from the US to resolve these issues. Samsung and SK Hynix collectively dominate global DRAM and NAND flash markets.
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Raghuram Rajan warns India to tread 'cleverly & carefully' in US trade talks
Economic Times
·
1m ago
Medial
Former RBI Governor Raghuram Rajan advises India to be "very careful and clever" in US trade talks, especially in agriculture. He warns that subsidized foreign produce could harm India's small-scale farmers and suggests focusing on enhancing domestic value addition through foreign direct investment (FDI). India, engaged in negotiations for a Bilateral Trade Agreement with the US, has resisted tariff concessions on agriculture and dairy products. Rajan sees opportunities for India if trade tensions are skillfully managed.
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EU push to protect digital rules holds up trade statement with US: Report - The Economic Times
Economic Times
·
23d ago
Medial
The European Union and the US are struggling to finalize a trade statement due to disagreements over "non-tariff barriers," particularly regarding the EU's digital rules. The US views these rules as restrictive, affecting American tech companies, and seeks possible concessions. The delay in the joint statement is also holding up related tariff adjustments, especially concerning EU car exports to the US, initially expected to be resolved following an agreement in July.
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Indian team in Washington; trade talks to begin Monday: Official
Economic Times
·
1m ago
Medial
An Indian commerce ministry team is in Washington for trade talks on a proposed bilateral trade agreement with the U.S. Negotiations will focus on resolving issues in agriculture, automobiles, and tariffs. India seeks to ease U.S. tariffs on steel, aluminum, and autos, while the U.S. requests duty concessions on dairy and industrial goods. The goal is to conclude the agreement's first phase by fall, with the talks running through Thursday.
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India can sustain iPhone growth despite Foxconn recall: Ashwini Vaishnaw - The Economic Times
Economic Times
·
2m ago
Medial
Union electronics and IT minister Ashwini Vaishnaw expressed confidence in India's capability to sustain iPhone manufacturing growth despite challenges like Foxconn recalling Chinese engineers. At an ET Roundtable in New Delhi, he emphasized India's efforts over the years to develop electronics manufacturing skills and supply chains. Vaishnaw noted that support is being received from Taiwan, the US, South Korea, and Indian engineers, highlighting India's significant design capabilities and Foxconn's recent investments in Tamil Nadu.
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South Korea to roll out $10 billion in loans next year to support chip industry
Economic Times
·
9m ago
Medial
South Korea is planning to offer $10 billion in low-interest loans next year to support its chip industry, which is facing challenges from Chinese competition and uncertainties over the new US administration. The loans, to be disbursed through state-run banks, will also include financing for power transmission lines at a new chip complex. South Korea aims to attract chip equipment and fabless companies to the complex, seen as the world's largest high-tech chipmaking cluster. The move comes as the country anticipates changes in the global trade and industrial environment under the new US administration.
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US trade team postpones India visit for bilateral trade agreement talks
Economic Times
·
24d ago
Medial
The visit of the US trade team to India for the sixth round of bilateral trade agreement (BTA) talks has been postponed, with no new date set. This delay is significant as the US has imposed a 50% tariff on Indian goods, demanding greater market access in sensitive areas like agriculture. Despite this, India’s exports to the US increased by 17.8% from April to July FY26, highlighting the countries' strong trade relationship.
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