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Trump Administration Raises Tariffs on South Korean Imports
The Trump administration announced it was raising tariffs on South Korean imports to 25%, citing Seoul's alleged failure to fully comply with a trade agreement reached the previous year, according to BBC World and BBC Business reports. The increase, which raises levies from 15%, will affect a range of products including automobiles, lumber, pharmaceuticals, and "all other Reciprocal TARIFFS," President Trump stated in a social media post.
Trump asserted that South Korean lawmakers had been slow to approve the deal, while the U.S. had "acted swiftly to reduce our TARIFFS in line with the Transaction agreed to," BBC Business reported. South Korea responded that it had not received official notification of the tariff increase and requested urgent talks with Washington, according to BBC World.
In other news, Revel Collective, the parent company of Revolution Bars, is entering administration, placing 2,200 jobs at risk, BBC Business reported. The company, which owns 62 pubs and bars across the UK, including Revolucion de Cuba and Peach Pubs, had put itself up for sale in October due to "a continued period of external challenges." Discussions with a buyer are "well advanced," but shareholders are expected to receive nothing after the sale. The pubs and bars will remain open during the administration process, but the company's stock has been suspended from trading.
Meanwhile, in Guyana, Azruddin Mohamed, a businessman facing extradition to the U.S. on gold-smuggling and money-laundering charges, was elected as the country's opposition leader, The Guardian reported. Mohamed's election occurred six months after he formed a political party that became the second largest in the South American country.
In California, Gov. Gavin Newsom's decision to interview conservatives on his podcast is drawing criticism from progressives within the state, Fox News reported. Elizabeth Ashford, a California-based communications advisor and former chief of staff for Kamala Harris, stated that while Newsom has made some policy decisions that have upset the left, the "political choices" of interviewing figures like Kirk, Bannon, and Ben Shapiro are more concerning. The move has fueled speculation about Newsom's potential presidential run in 2028.
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