China, US Agricultural Tariffs Take Effect... Trade War Hits the Dinner Table [3-Minute Brief]

Published 11 Mar.2025 08:00(KST)

① China Targets Only Trump’s Electoral Base Agricultural Products
② Credit Rating Downgrades Continue This Year... Concerns Over Another Homeplus
③ People Taking Side Jobs to Supplement Their Income

MARKET INDEX

China, US Agricultural Tariffs Take Effect... Trade War Hits the Dinner Table [3-Minute Brief]

○ Trump signals intent to push ahead with tariff policy even amid recession
○ Despite White House efforts to downplay, sell-offs continue amid "strong US economy" claims
○ Wall Street lowers growth forecasts and raises recession probabilities

TOP 3 NEWS

■ Trump’s electoral base hit… China imposes up to 15% additional tariffs on US soybeans and others

○ Additional '10%+10%' tariffs imposed on China
○ Retaliatory tariffs targeting Chinese agricultural and livestock products
○ Concerns over rising food prices in China due to tariffs

■ Domestic demand slump and China competition hit hard… Credit rating downgrades raise fears of a second Homeplus

○ Homeplus files for corporate rehabilitation following credit downgrade
○ Worsening sluggishness in retail, construction, and chemical sectors due to weak domestic demand and intensified China competition
○ Continued credit rating downgrades this year raise concerns about emergence of another Homeplus

■ "Spending exceeds earnings"… Construction workers holding 'two jobs' surge 34%

○ Construction sector increased by 33.65%, up 7.79 percentage points
○ Accommodation and food services rose 16.8%
○ "Concerns over worsening working conditions"

Graphic News: Taiwan accelerates 'Won-Jung-Geun-Mi'... The largest trading partner is changing

○ The trade surplus gap between US and China is the smallest in 32 years

○ Exports sharply drop to China and surge to the US... 'Cross' imminent

○ South Korea was Taiwan’s largest trade deficit country last year

Profitable Law

■ Bonuses paid differentially based on janitors’ attendance count are also considered ordinary wages

○ "The condition that one must be employed at a specific time to receive any wage
○ does not negate the nature of ordinary wages by itself"
☞Read article: https://www.asiae.co.kr/article/lawtimes/2025031015475695482

■ Even if disciplinary committee attendance notice received one day prior… Court rules "Dismissal justified"

○ Employee who embezzled colleague’s severance pay received disciplinary committee attendance notice one day before
○ Filed lawsuit claiming dismissal was unfair
○ Court confirmed "mail was properly delivered" and upheld guilty verdict
☞Read article: https://www.asiae.co.kr/article/lawtimes/2025031016002636448

■ "Upbit controls over 80% of the market"?Fair Trade Commission and Financial Services Commission may crack down on monopoly

○ "Regulation possible through corporate split and other fair trade measures"
○ "No precedent for virtual asset exchange regulation"
○ Considering second phase of comprehensive virtual asset regulation legislation
☞Read article: https://www.asiae.co.kr/article/lawtimes/2025031016100574836

※ 'Profitable Law,' a content partnership corner between Asia Economy and Law Times, is published every Tuesday and Thursday.

Today’s Key Schedule

○ Domestic

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KOSDAQ TXR Robotics subscription, fixed public offering price 13,500 KRW

KOSDAQ SimPlatform subscription, fixed public offering price 10,500 KRW

○ Overseas

08:30 Japan Household Spending (MoM) (January)

08:50 Japan GDP (QoQ) (Q4)

19:00 Eurozone Finance Ministers Meeting

23:00 US Department of Labor JOLTS (Job Openings and Labor Turnover Survey) (January)

◇ Lunch & Commute Weather

○ Lowest temperature 4℃(▲1℃) ｜ Highest temperature: 16℃(▲2℃)
○ Precipitation probability 20% in the morning｜20% in the afternoon
○ Fine dust level Moderate in the morning｜Bad in the afternoon

OK in 3 minutes, essential time-efficient economic news. Published daily at 8 AM.