‘The Huge Cash Present’ previews President Donald Trump’s assembly with South Korean President Lee Jae-myung as they focus on a possible deal and analyze market response.
FIRST ON FOX: A brand new research says South Korea’s strict competitors guidelines aimed toward U.S. tech corporations may price each international locations almost $1 trillion in misplaced financial progress over 10 years.
Analysis by the Competere Basis, a nonprofit that educates policymakers on non-tariff barriers affecting international GDP, estimates that U.S. firms may lose $525 billion, whereas South Korean small companies stand to lose about $469 billion.
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The report factors to aggressive enforcement by Korea’s Truthful Commerce Fee (KFTC), saying it unfairly limits U.S. tech corporations and discourages overseas funding.
The report warns that South Korean small companies stand to lose about $469 billion over the subsequent 10 years as a result of Seoul’s competitors guidelines. (Anthony Wallace/AFP/Getty Pictures)
“Mockingly, whereas Korean officers are working to forestall U.S. firms like Apple, Coupang, Google and Microsoft from working freely, our analysis reveals Korea itself will lose an estimated $469 billion over 10 years, together with important injury to the nation’s small companies,” stated Shanker Singham, president of the Competere Basis, in a press release to FOX Enterprise.
| Ticker | Safety | Final | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 262.77 | +0.53 | +0.20% |
| CPNG | COUPANG INC | 31.43 | -0.26 | -0.82% |
| GOOGL | ALPHABET INC. | 250.46 | -6.09 | -2.37% |
| MSFT | MICROSOFT CORP. | 517.66 | +0.87 | +0.17% |
He cautioned that Korea’s strategy may have broader diplomatic and trade implications, underscoring the necessity for stronger U.S. engagement.
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“Not solely are Korea’s actions harming America’s financial system, however they’re additionally aggravating commerce tensions. If the Trump administration resolves this, it’s going to give President Donald Trump a singular likelihood to ship an enormous financial win for American households with out spending a dime,” Singham added.
The Trump administration is at present negotiating a commerce settlement with South Korea. (Chip Somodevilla/Getty Pictures)
The report additionally cautions that smaller Korean companies will bear the brunt of diminished overseas funding. It urges each governments, at present negotiating a commerce deal, to prioritize regulatory reform to safeguard progress and strengthen U.S.–South Korea financial ties.
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Henry Haggard, former minister counselor for political affairs on the U.S. Embassy in Seoul, agreed that Korea’s regulatory strategy dangers backfiring.
“These actions by Korean officers are stalling the power of U.S. firms to function freely and disincentivizing them from investing in South Korea,” Haggard instructed FOX Enterprise. “An unwelcoming funding surroundings may make the commerce negotiations extra complicated and doubtlessly extra confrontational.”
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He warned that some U.S. corporations could cut back operations in South Korea, halt future investments or exit the market altogether.
Trump says Xi Jinping, China’s president, is aware of the place he stands relating to tariffs. (Ton Molina/Bloomberg/Getty Pictures)
“That is leaving a gap for Chinese companies to achieve a aggressive benefit which can be much less deterred by irregular enforcement of guidelines and laws. That’s unhealthy for America and unhealthy for nationwide safety,” Haggard added.
The U.S. Embassy in South Korea didn’t instantly reply to FOX Enterprise’ request for remark.
