Hezbollah and Israel exchange fire amid rising border tensions
Israel carried out heavy airstrikes on the Hezbollah-controlled southern suburbs of Beirut on Monday (2 March), af...
The United States wants South Korea to join a coordinated push to limit China’s fast-growing share of the world shipbuilding market, Seoul’s trade ministry said on Friday, tying the request to talks over 25 % tariffs on steel, cars and other goods.
Trade Policy Director Chang Sung-gil told a parliamentary forum that U.S. negotiators “feel a sense of crisis that China’s market share is rising” and see South Korea, the No 2 shipbuilding nation, as a “strategic partner” in efforts to counter Beijing.
Washington, he said, is asking Seoul to cooperate not only in ship construction itself but in unspecified “other areas” as a precondition for deeper industrial collaboration. The Biden administration also wants South Korea to increase purchases of U.S. energy and farm products in exchange for discussing a rollback of reciprocal 25 % tariffs imposed under Section 232 in 2018.
China’s foreign ministry urged both allies to avoid deals that harm third-party interests. “No agreement or negotiation should harm the interests of third parties,” spokesperson Mao Ning told reporters in Beijing on Friday.
The rivalry comes as China has captured more than 50 % of the global order book for new vessels, while South Korea holds roughly one-third, according to Clarkson Research Service data. The U.S. builds few commercial ships but fears Chinese dominance could give Beijing leverage over critical maritime supply chains.
South Korean officials say any pact must balance national sensitivities about importing additional U.S. farm goods—always a contentious issue in Seoul—and protect the domestic steel industry, which faces the same U.S. tariffs it has lobbied to remove.
Industry analysts expect the talks to intensify ahead of a possible summit later this year, but warn that aligning on both trade and strategic objectives will be difficult. “Seoul relies heavily on Chinese components even as it competes for hull orders,” said Park Jin-woo, a logistics professor at Korea Maritime University. “Decoupling at the shipyard gate will not be straightforward.”
Neither the U.S. Trade Representative’s office nor South Korea’s industry ministry has publicly commented on the substance of the private discussions.
Follow the latest developments and global reaction after the U.S. and Israel launched “major combat operations” in Iran, prompting retaliation from Tehran.
Saudi Arabia’s state oil giant Saudi Aramco closed its Ras Tanura refinery on Monday following an Iranian drone strike, an industry source told Reuters as Tehran retaliated across the Gulf after a U.S.-Israeli attack on Iranian targets over the weekend.
The Kremlin is utilising the recent United States and Israeli military strikes on Iran to validate its ongoing war in Ukraine. Russian officials are pointing to the escalation in the Middle East as evidence that Western nations do not adhere to international rules.
Ayatollah Alireza Arafi has moved into a pivotal constitutional role following the death of Supreme Leader Ayatollah Ali Khamenei, becoming the clerical member of Iran’s temporary leadership council under Article 111 of the Constitution of the Islamic Republic of Iran.
The Middle East crisis intensifies after the deadly attack on Iran's Supreme Leader Ali Khamenei's compound on Saturday that killed him, other family members and senior figures. Iran has launched retaliatory strikes on U.S. targets in the region.
The UK said it's allowing the U.S. to use its bases for defensive strikes against Iran amid escalating missile attacks, after a suspected drone strike hit a British airbase in southern Cyprus, causing limited damage.
The Kremlin is utilising the recent United States and Israeli military strikes on Iran to validate its ongoing war in Ukraine. Russian officials are pointing to the escalation in the Middle East as evidence that Western nations do not adhere to international rules.
European Union stands with its member states in the face of any threat, EU Commission President Ursula von der Leyen said in response to the drone strike that hit Britain's Royal Air Force base of Akrotiri in southern Cyprus overnight.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 27th of February, covering the latest developments you need to know.
Protests broke out in Pakistan and Iraq on Sunday after Iranian state media confirmed that Supreme Leader Ayatollah Ali Khamenei had been killed in joint U.S.–Israeli strikes. At least nine people were reported dead in clashes near the U.S. consulate in Karachi.
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