International News
South Korea Proposes ‘Package Deal’ To Avoid US Tariffs
South Korea has proposed a “package deal” to Washington to avoid Donald Trump’s steep tariffs, its finance minister said Friday, which US Treasury Secretary Scott Bessent said could bring a trade “understanding” by next week.
The country is a major exporter to the United States, and giants such as Samsung Electronics and automaker Hyundai stand to take a hefty hit if the White House goes ahead with its threatened 25 percent “reciprocal” tariffs.
Finance Minister Choi Sang-mok and trade minister Ahn Duk-geun — who are in Washington — held talks with US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer, and “exchanged views on US tariff policies”, the trade ministry said Friday.
South Korea proposed a “July Package” aimed at removing tariffs, which would be established before Trump’s 90-day suspension on “reciprocal” tariffs is set to expire on July 8, the ministry said.
“(We) explained that the imposition of reciprocal and product-specific tariffs by the United States could negatively impact bilateral economic cooperation,” Choi said at a press conference in Washington.
The South Korean government “conveyed its position that exemptions and waivers should be granted for tariffs imposed on Korean exports”, added Choi.
He added that South Korea plans to hold additional talks with Greer, who will visit Seoul to attend the APEC Trade Ministers’ Meeting scheduled for May 15 and 16.
The two countries “reached a principled agreement on establishing a framework for future consultations”, trade minister Anh said.
Separately, Bessent said the United States had a “very successful” meeting with the South Korean government and added that they may be “moving faster” than he thought.
“We will be talking technical terms as early as next week as we reach that agreement on understanding as soon as next week,” Bessent told reporters.
“So the South Koreans came early… They came with their A-game, and we will see if they follow through on that,” he added.
On Thursday, South Korea’s central bank said that the country’s economy unexpectedly contracted 0.1 percent in the first three months of this year due to tariff concerns and political chaos following a declaration of martial law.
AFP
Jeremy Doku insisted Manchester “will keep on fighting” in the Premier League title race despite their “painful” draw with Everton on Monday.
City drew 3-3 with the Toffees at Hill Dickinson Stadium, with Doku scoring a 97th-minute equaliser, having also scored the opening goal.
Doku’s equaliser (96:49) is City’s third-latest goal on record (since 2006-07) in a Premier League game after John Stones’ strike against Arsenal in September 2024 (97:14) and Gabriel Jesus’ goal against Everton in February 2019 (96:52).
Doku has had a hand in six goals across his last five games for City in all competitions (four goals, two assists), as many as in his previous 22 games combined (one goal, five assists).
The Belgian also created the most chances in the match against Everton (four), completed the most dribbles (5/7) and won the most duels (14/19).
City avoided defeat in a Premier League game despite trailing by 2+ goals as late as the 82nd minute for the first time since March 2012 against Sunderland (3-3).
They went on to win the league title in 2011-12, and Doku believes City can still beat Arsenal to the trophy this season.
“First half, we played well and created a lot of chances. We know if we don’t score those chances, it is going to get difficult at the end,” said Doku.
“Obviously, they are at their own stadium, they create chances, and they are dangerous, and they scored two goals, but I think we gave them the game.
“Good that we came back because one point is not bad in games like this.
“We will see. It feels painful now. There is still a lot of games to go. We lost two points, but we know that one point can be important at the end.
“We will keep on fighting. We owe it to ourselves and to our fans.”
The Ministry of Foreign Affairs said Nigerians interested in repatriation from South Africa will be responsible for the cost of their return trip to Nigeria.
The ministry’s spokesperson, Kimiebi Ebienfa, stated this during a press briefing on Monday in Abuja.
The briefing came shortly after a closed-door meeting between the Ministry’s Permanent Secretary, Dunoma Ahmed, and the South African Acting High Commissioner, Lesoli Machele.
Mr Ebienfa said the process will be self-funded and not state-funded, as it is a voluntary decision that the Nigerian government will only facilitate and coordinate.
In the recent past, such reparations have been sponsored by Nigerian airline owners, particularly Allen Onyema, the CEO of Air Peace.
The Nigerian government, on Sunday, indicated its readiness to repatriate its citizens from South Africa due to xenophobic violence.
The effort primarily targets Nigerians who feel threatened by the xenophobic violence and tension in parts of South Africa, as the protests against black immigrants in the country continue. Two Nigerians were killed last month.
Since the announcement, about 130 Nigerians in South Africa have expressed a willingness to return home voluntarily.
Mr Ebienfa stated that the return of the Nigerians depends on their financial capacity, as they would be expected to fund their trip back home individually.
He said, “Those willing to leave are expected to approach the high commission and, given that their decision is voluntary, have the resources to fund their return to Nigeria.”
The government will not “provide an aircraft from Nigeria to convey them.”
He also noted that the speed of the repatriation process will be determined by the availability of funds.
“Yes, 130 as of this morning have registered, but actualisation would be required to have their flight ticket to move back to Nigeria.”
Mr Ebienfa also explained that Nigerians who have so far expressed interest are motivated either by concerns about threats to their lives or by fear of arrest by South African law enforcement agencies.
“There are two groups of Nigerians who want to come back. One group feels the country is not safe for them and wants to come. They have all their papers intact.
“Then there is also the second group that has travel document violations or resident permit violations. And instead of running away from law enforcement, they are appealing that the government facilitate their movement back to Nigeria,” he explained.
However, he noted that the process is still being worked out and that the government would step in to provide aircraft or other needed assistance if tensions rise and the situation becomes more volatile.
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