Category
🗞
NewsTranscript
00:00But what market reaction have we seen from, you know, Wall Street and across the globe following the comments by both countries?
00:12Absolutely. So the market movements have been muted.
00:17And that's quite simply because the markets are waiting to see what is going on.
00:23They quite simply don't have enough information to know whether or not this is the reprieve that they had been hoping for.
00:31The Hang Seng, however, dropped by over a percentage point.
00:36Now, South Korea is in trade negotiations with Washington, like several other countries that are trying to broker a deal before the beginning of July, which is when the tariffs come back into force.
00:50Those trade talks had stalled because obviously President Yoon Suk-kyul was removed from office and then South Korea had to have general elections.
00:59Now, the new president has said he hopes that Washington will take into account that South Korea is trying to get its house in order and just wasn't able to take part in those talks.
01:10U.S. Treasury Secretary Scott Besant said that countries that are taking part in these talks in good faith will be granted extensions ahead of that expiry date.