South Korea's Lee Plays Down Proposed U.S. Chip Tariffs, Warns of Higher Prices

South Korean President Lee Jae Myung ​said on Wednesday if Washington introduced higher U.S. tariffs on semiconductor imports, it would likely boost U.S. prices, playing down concerns ‌about the proposed duty, Reuters reported. U.S. Commerce Secretary Howard Lutnick has said that South Korean and Taiwanese chipmakers may face tariffs of up to 100% unless they commit to increased production on American soil. Lee said that given South Korean and Taiwanese chipmakers' dominance of the market, a 100% U.S. import duty would likely sharply raise prices for chip products in the United States.
South Korea
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Selangor Has Highest Bankruptcy Rate in Malaysia, According to Insolvency Dept

According to data from the insolvency department, Selangor has the highest incidence of bankruptcy in the country, with a significant proportion of cases involving civil servants, particularly teachers, Free Malaysia Today reported. Insolvency department director-general Ishak Bakri said the majority of bankruptcies stemmed from substantial personal loan liabilities, reflecting that salaried employees are disproportionately vulnerable to insolvency.

Malaysia
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Canada's Deal with China Signals It Is Serious About Shift from U.S.

Prime Minister Mark Carney's new approach to Canada's foreign policy can perhaps be distilled in one line: "We take the world as it is, not as we wish it to be," BBC.com reported. That was his response when asked about the deal struck with China on Friday, despite concerns over its human rights record and nearly a year after he called China "the biggest security threat" facing Canada. The deal will see Canada ease tariffs on Chinese electric vehicles that it imposed in tandem with the US in 2024. In exchange, China will lower retaliatory tariffs on key Canadian agricultural products.
Canada
China
United States
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New Zealand Manufacturing Surges Back To Life In December

New Zealand’s economy is showing signs of a full blown recovery with manufacturing activity surging in December to its highest level since 2021, the Wall Street Journal reported. The BusinessNZ performance of manufacturing index rose 4.4 points to 56.1 points in December from November, well above the average of 52.5 points since the survey began. All five sub-index values were in expansion during December, led by new orders, which achieved its highest level of activity since July 2021.
New Zealand
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South Korea Tightens Crypto Access as Google Play Blocks Unregistered Exchanges

South Korea is tightening its grip on how crypto platforms reach users, using app stores as an enforcement lever as regulators sharpen the boundary between compliant digital finance and unregistered crypto activity, Decrypt.com reported. The country has advanced legislation establishing a legal framework for security token offerings, creating a regulated pathway for blockchain-based issuance and trading of tokenized securities.
South Korea
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