The Biden administration is likely to grant Hanwha Q CELLS’ request to impose tariffs on bifacial solar panels imported into the United States, according to sources cited by Reuters on April 17. On Feb. 23, Hanwha Q CELLS formally petitioned the United States Trade Representative (USTR) to revoke th
With U.S. President Joe Biden directing the Office of the U.S. Trade Representative (USTR) to triple tariffs on Chinese steel and aluminum, attention is turning to impacts the action will have on Korea’s steel industry.According to the Korean government and the Korean steel industry on April 17, the
During his visit to the United States, Treasury Secretary Janet Yellen met with China’s “second-in-command,” Premier Li Qiang, raising concerns once again over China’s issue of overproduction. Premier Li responded by stating that the low-cost production of solar panels and electric vehicles, which t
Recent opinion polls suggest that former President Donald Trump is leading in the race in swing states among potential candidates for the upcoming November U.S. presidential election, raising concerns about trade pressure from the United States. During his tenure, former President Trump considered t
Korea’s trade surplus with the United States, which peaked in 2023, is likely to gradually shrink in the future, according to a new report.The Korea Institute for Industrial Economics & Trade (KIET) released a report on a structural analysis of the causes of Korea’s surplus in trade with the United
The rapid increase in direct overseas purchases through Chinese e-commerce companies such as AliExpress, Temu, and Shein has led to discussions about alternative measures to mitigate the side effects. However, it has been confirmed that the proposal to tax small imported goods is closely linked to t
Nexen Tire is consolidating its three European bases -- Czech Republic, Germany, and Italy -- into a single Czech corporation. This initiative aims to streamline business operations by centralizing dispersed bases within Europe. There is keen interest in whether Nexen Tire, which encountered setback
The trade conflict between the U.S. and China has spilled over into the shipbuilding industry and Korean shipbuilders that compete with China for the No. 1 spot in the global shipbuilding market are expected to benefit from this situation.According to industry sources, the U.S. Trade Representative
India, the world’s third-largest automobile market, is expected to emerge as an electric vehicle battleground after the United States and Europe. This is because the Indian government, which has been sticking to high tariff barriers, has launched a drastic tariff reduction policy to attract global e
Korea and ASEAN member countries are meeting in Jakarta, Indonesia, on March 12 to assess the implementation of the Free Trade Agreement (FTA) and discuss measures for upgrading the agreement.The Ministry of Trade, Industry, and Energy announced that it will host the Korea-ASEAN Free Trade Agreement
At the Huawei Product & Solution Launch held during MWC Barcelona 2024, Bruce Xun, President of Huawei's Global Technical Service Dept, announced the launch of Huawei's digital intelligent series of solutions in the ICT services & software field. New AI technology is applied to solutions such as Int
Executives and experts from domestic e-commerce companies such as Coupang are collaborating to develop strategies in response to the aggressive expansion efforts of Chinese e-commerce platforms including AliExpress and Temu.According to industry sources on Feb. 14, the Ministry of Trade, Industry an
South Korea’s foothold in the Chinese market is narrowing while its dependency on imports from China is growing. The relationship that used to yield the most trade surplus for South Korea with China seems to have reversed.According to the Korea International Trade Association (KITA) on Jan. 28, Chin
With the re-addition of Guatemala, the only Central American country that had previously withdrawn from the Free Trade Agreement (FTA) with South Korea and Central American nations, the FTA has reached its final completion.The Ministry of Trade, Industry, and Energy (MOTIE) announced that it formall
Korea and the Gulf Cooperation Council (GCC) have finalized negotiations on a free trade agreement (FTA). The Korea-GCC FTA is Korea’s twenty-fifth FTA and the second with the Arab world after the Korea-United Arab Emirates (UAE) Comprehensive Economic Partnership Agreement (CEPA). As Korea has gain
South Korea’s exports will fall by 10% if the world’s major economies split into two groups and strengthen trade barriers against each other, according to a report. However, if Korea promotes export diversification, it will be able to significantly reduce adverse effects.According to the Bank of Kor
The United States is expanding its regulatory front to include Chinese-made general-purpose semiconductors, a development that is expected to benefit domestic memory semiconductor companies like Samsung Electronics and SK hynix. It is anticipated that the focus on NAND flash, where the technological
Last year, the debt of the central and local governments, non-profit public institutions, and non-financial public enterprises in the public sector reached nearly 1,600 trillion won (US$1.24 trillion), marking a historic high. The debt of non-financial public enterprises such as Korea Electric Power
The author is an analyst for NH Investment & Securities. He can be reached at ys.jung@nhqv.com -- Ed.The transportation industry enjoyed a market boom during the pandemic era, but with trade volume growth slowing and supply growth accelerating, supply burden has increased, bringing down tariffs. The
Challenges loom ahead for domestic companies that sell cathodes, made from materials like lithium and nickel, to battery manufacturers.Companies that held a strong foothold with nickel, cobalt, and manganese, essential for ternary batteries, are now under threat as the competition for low-priced ele