‘The Huge Cash Present’ previews President Donald Trump’s assembly with South Korean President Lee Jae-myung as they talk about a possible deal and analyze market response.
FIRST ON FOX: A brand new examine says South Korea’s strict competitors guidelines geared toward U.S. tech companies might 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 limitations affecting world GDP, estimates that U.S. firms might 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 companies and discourages international funding.
The report warns that South Korean small companies stand to lose about $469 billion over the following 10 years as a consequence of Seoul’s competitors guidelines. (Anthony Wallace/AFP/Getty Photographs)
“Sarcastically, 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 ten years, together with important injury to the nation’s small companies,” stated Shanker Singham, president of the Competere Basis, in an announcement to FOX Enterprise.
| Ticker | Safety | Final | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 262.24 | +9.95 | +3.94% |
| CPNG | COUPANG INC | 31.69 | +0.48 | +1.54% |
| GOOGL | ALPHABET INC. | 256.55 | +3.25 | +1.28% |
| MSFT | MICROSOFT CORP. | 516.79 | +3.21 | +0.63% |
He cautioned that Korea’s method might have broader diplomatic and commerce 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’ll give President Donald Trump a novel probability 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 Photographs)
The report additionally cautions that smaller Korean companies will bear the brunt of diminished international 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 method dangers backfiring.
“These actions by Korean officers are stalling the flexibility of U.S. firms to function freely and disincentivizing them from investing in South Korea,” Haggard instructed FOX Enterprise. “An unwelcoming funding setting might make the commerce negotiations extra complicated and probably extra confrontational.”
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He warned that some U.S. companies could reduce 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 in relation to tariffs. (Ton Molina/Bloomberg/Getty Photographs)
“That is leaving a gap for Chinese language firms to achieve a aggressive benefit which might be much less deterred by irregular enforcement of guidelines and laws. That’s dangerous for America and dangerous for nationwide safety,” Haggard added.
The U.S. Embassy in South Korea didn’t instantly reply to FOX Enterprise’ request for remark.
