South Korean Tariff Hike, Samsung and SK Hynix Earnings Ahead
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South Korean Tariff Hike, Samsung and SK Hynix Earnings Ahead
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President Donald Trump threatened to hike tariffs on goods from South Korea to 25%, citing the failure of the country's legislature to codify the trade deal. Trump in a social media post on Monday said the new rate would apply to autos, lumber, pharmaceutical products and “all other Reciprocal TARIFFS.” Under the existing agreement, the president set a 15% levy on South Korean exports.
It's an important week for earnings in Asia with Samsung and SK Hynix reporting results. Bloomberg's South Korean Equities Reporter, Youkyung Lee, discusses what the market is expecting.
Tech names including Meta Platforms, Tesla and Microsoft all report earnings on Wednesday, with Apple reporting Thursday. Zachary Hill is Portfolio Management at Horizon. He gives his take on the big week for the Mag 7, and the possibility of another US government shutdown.
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