Tariff deal with US 'significantly' reduces economic uncertainty for Korea: BOK chief

The recent tariff agreement with the United States has substantially reduced economic uncertainty for Korea, though the country is expected to face a greater tariff impact on exports in the second half, the chief of the Korean central bank has said. "We believe that the trade deal between Korea and the United States has significantly reduced uncertainties," Bank of Korea (BOK) Gov. Rhee Chang-yong told the BBC in an interview aired Tuesday. "It would be very positive if we could develop joint ventures that combine the U.S.' strengths in basic science with Korea's strengths in manufacturing and applied technologies," he added. After monthslong negotiations over the Donald Trump administration's aggressive tariff policies, Seoul and Washington finalized a deal and released a joint fact sheet last week outlining Korea's $350 billion investment plans in the U.S., in exchange for a reduction of U.S. tariffs from 25 percent to 15 percent. Exports remained solid in the first half of this year thanks to proactive responses by Korean companies, but a more significant impact is expected in the secWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times