Deals and Doubts

Uncle Sam’s tightening tariffs on South Korea. 

On Monday, President Trump announced that the U.S. would raise tariffs on South Korea—last year’s second-largest exporter—from 15% to 25% for “not living up to” a $350B Washington-Seoul trade deal made last July. Trump said South Korean lawmakers had been slow to approve the agreement (it’s still awaiting Seoul’s sign-off) while Washington “swiftly acted” to reduce tariffs. 

South Korean officials said they were surprised and scrambled to respond Tuesday, though no official trade talks are scheduled. 

As trade tensions simmer, gold’s a hot commodity. The safety-net asset topped a record $5,000/ounce amid growing trade-instability fears and a looming partial government shutdown. 

Meanwhile, India and the E.U. announced “the mother of all trade deals” yesterday, slashing tariffs and opening free trade between India and the 27-country bloc.

Verse to consider when the international math (and your own economic outlook) keeps changing… “Instruct those who are rich in the present age not to be arrogant or to set their hope on the uncertainty of wealth, but on God, who richly provides us with all things to enjoy.” 
1 Timothy 6:17 (CSB) (read full passage)