China extends anti-dumping duties on stainless steel imports
China's Ministry of Commerce announced Monday it will extend anti-dumping duties on specific stainless steel imports from the European Union, United K...
South Korea's acting president, Han Duck-soo, moved quickly on Sunday to reassure allies and stabilize markets, pledging continuity in governance and security following President Yoon Suk Yeol's impeachment over a controversial martial law declaration.
South Korea's acting president, Han Duck-soo, moved swiftly on Sunday to reassure allies and calm financial markets following the impeachment of President Yoon Suk Yeol over a controversial martial law declaration. Speaking with U.S. President Joe Biden, Han emphasized continuity in foreign and security policies, underscoring the steadfastness of the South Korea-U.S. alliance.
The Democratic Party, which controls parliament, announced it would not seek Han's impeachment despite his connection to Yoon's martial law decision, citing the need to avoid further governance instability. As acting president, Han pledged to maintain military readiness and uphold national security.
Protests erupted in Seoul, with around 200,000 people demonstrating outside the National Assembly to support Yoon’s ouster, while smaller groups gathered in central Seoul to voice opposition to the impeachment. Public sentiment remains deeply divided, with critics accusing Yoon of undermining democracy and supporters lamenting political chaos.
The impeachment has drawn international attention amid rising tensions with North Korea. Biden reaffirmed U.S. support, praising South Korea's democratic resilience and emphasizing the importance of the alliance in maintaining Indo-Pacific stability.
Financial markets have reacted cautiously, with South Korean shares rising on hopes of political stabilization. The Constitutional Court now has six months to decide Yoon’s fate. If removed, new elections must be held within 60 days, leaving the country in a protracted period of uncertainty.
In the meantime, Han’s administration faces economic challenges, including sluggish domestic demand and a political deadlock over the national budget. Democratic Party leader Lee Jae-myung called for a supplementary budget and a National Stability Council to address economic concerns, including support for small businesses and energy infrastructure investment.
The unfolding political crisis has tested South Korea’s institutions, with acting President Han seen as a steadying figure. However, the coming months will determine whether the nation can navigate these challenges while maintaining stability at home and abroad.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
A malfunction in the radar transmission system at the Area Control Center in Milan suspended more than 300 flights at the weekend, across northwest Italy since Saturday evening according to Italy's air traffic controller Enav (National Agency for Flight Assistance).
Thousands of protesters rallied in Bangkok on Saturday, demanding Prime Minister Paetongtarn Shinawatra resign as political and economic tensions mount.
Prices for goods made in China and sold on Amazon.com are rising at a pace faster than overall inflation, signaling the growing impact of U.S. tariffs on consumers, a new analysis by retail analytics firm DataWeave reveals.
U.S. Secretary of State Marco Rubio convened his counterparts from India, Japan, and Australia on Tuesday for a high-stakes meeting of the Indo-Pacific Quad, aiming to reaffirm the group's commitment to countering China’s influence in the region.
A U.S. federal judge on Tuesday rejected Huawei Technologies Co Ltd's request to dismiss the majority of charges in a sweeping indictment, allowing the Chinese telecoms giant to face trial over allegations of trade secret theft, bank fraud, and sanctions violations.
France is facing a severe heat wave forcing nearly 1,350 schools to shut fully or partially, nearly double from the previous day.
The U.S. Justice Department announced charges against two Chinese citizens accused of spying inside the U.S. on behalf of Beijing.
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