‘Big money preview’ shows President Donald Trump and South Korean President Lee Jae-Munge as they discuss a potential deal and gauge market reactions.
First on fox: A new study says South Korea’s tough competition laws aimed at tech firms could cost both countries nearly $1 trillion in lost economic growth over 10 years.
Research by the Collere foundation, a non-profit that educates policymakers on non-price barriers that affect global GDP, estimates that small businesses in America, while small businesses in South Korea will lose $469 billion.
Trump has been urged to take South Korea’s Over Tech Direction aimed at us, and leave China
The report points to aggressive enforcement by Korea’s Fair Trade Commission (KFTC), which it says restricts US tech firms and discourages foreign investment.
The report warns that South African small businesses will lose $469 billion over the next 10 years due to Seoul’s antitrust rules. (Anthony Wallace/AFP/Getty Images)
“It’s surprising that while Korean officials are working to block US companies like Apple, Coupang, Microsoft they will lose small businesses,” said Shanker Singham, President of Fox.
| It’s teasing | Security | – Last | Answer | change % |
|---|---|---|---|---|
| -E-aplay | Apple Inc. | 262.24 | +9.95 |
+ 3.94% |
| It is cooked | DoupAng Inc | 31.69 | U +0.48 |
+ 1.54% |
| Load up | Alphabet inc. | 256.55 | +3.25 |
+ 1.28% |
| Msft | Microsoft Corp. | 516.79 | +3.21 |
+ 0.63% |
He warned that Korea’s approach could have far-reaching and trade consequences, stressing the need for stronger US involvement.
South Korea’s Big Law saw China’s protectionism, which targets US technology, endure a trade dispute
“Not only are Korea’s actions hurting the American economy, but they will also increase tensions. If the Trump administration resolves this, it will give President Donald Trump a huge economic opportunity without spending money,” Singham added.
The Trump administration is currently negotiating a trade deal with South Korea. (Chip somodevilla / Getty Images)
The report also warns that Korean small businesses will bear the brunt of reduced foreign investment. It encourages both governments, currently negotiating a trade deal, to prioritize regulatory reforms to protect growth and strengthen US-South Korea economic relations.
Trump Ultimatum issues, threatened taxes on digital taxes and terms
Henry Haggard, former Political Counselor for political affairs at the US Embassy in Seoul, agreed that the approach to controlling Korea risks backfiring.
“These actions by Korean officials focus on the ability of US companies to operate freely and expose themselves to investment in South Korea,” said Haggard Business. “An unfavorable investment environment can make trade negotiations more complex and more likely.”
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He warned that some US firms may bring jobs back to South Korea, halt future investments or pull out of the market altogether.
Trump says that Xi jinping, the president of China, knows where he stands when it comes to taxes. (Ton Molina/Bloomberg/Getty Images)
“This leaves an opening for Chinese companies to gain unfettered competitive advantage under illegal enforcement of laws and regulations. That is bad for national security,” Haggard said.
The US Embassy in South Korea did not immediately respond to Fox Business’ request for comment.
