Trump pressures for rate cut again ahead of FOMC... "Should be the lowest in the world"
U.S. President Donald Trump. [Photo = The White House] U.S. President Donald Trump once again pressured the Federal Reserve, the U.S. central bank, to lower interest rates on the 27th (local time
“Ignoring crisp ballots and damaged seals”… Tongyeong mayoral recount concludes with ‘no change in outcome,’ leaving suspicions and public outrage behind
Suspected counterfeit ballots discovered in Tongyeong [GIF from social media of Representative Hwang Kyo-ahn / Attorney Park Joo-hyun]During a recount of the Tongyeong mayoral election in South Gyeong
President Yoon, regarding the first-instance ruling on the Public Official Election Act: “An excessive political verdict that distorts the facts… We will appeal immediately.”
The first-instance sentencing hearing for President Yoon Suk Yeol regarding violations of the Public Official Election Act is being broadcast live at Seoul Station on the 27th. [Photo=Yonhap News]Pres
WSJ: "SK Hynix ADR Premium Is a Sign of AI Trading Overheat"
Advertisement for SK Hynix ADR listing in New York's Times Square [Reuters=Yonhap News file photo]The Wall Street Journal (WSJ) has pointed out that the price of SK Hynix’s American Depositary Recei
'Godfather of Japanese Mystery Novels' Keigo Higashino Passes Away After Battle with Cancer at 68
Famous Japanese mystery novelist Keigo Higashino [AFP=Yonhap News]It has been belatedly reported that Keigo Higashino, the "godfather of Japanese mystery novels" and author of bestsellers such as "The
[Park Pil-kyu Security Column] To the Ignorant Trying to Clothe a Beast in Sheep's Clothing
Rep. Kim Byung-joo of the Democratic Party of Korea [Photo=Yonhap News]“The Air Force Academy doesn't teach you how to fly a plane!” “The Army, Navy, and Air Force academies are exactly the
Containers loaded at the Port of Santos, Brazil, on the 6th (local time). Yonhap News.
Brazil announced on the 6th (local time) that it has filed a complaint with the World Trade Organization (WTO) against the United States, which imposed a high tariff of 50% on Brazilian products in connection with the trial of former President Jair Bolsonaro for alleged coup plotting.
Brazilian President Luiz Inácio Lula da Silva entering a meeting room on the 5th (local time). Yonhap News. The Brazilian government stated on the same day, "We have sent a formal notification to the Donald Trump administration requesting the initiation of formal consultations regarding tariffs within the WTO framework."
Local daily Folha de S.Paulo had previously reported this, citing government officials, and stated that the government had also sent a copy to the WTO Secretariat in accordance with regulations.
Brazil's request for consultations is the first step required to proceed with the WTO dispute settlement process.
Accordingly, the United States must express its position to Brazil within 10 days, and engage in bilateral consultations to seek a resolution within 60 days.
If an agreement cannot be reached, a series of steps will be followed, including requesting the establishment of a panel, the establishment of a panel by the Dispute Settlement Body (DSB), the formation of panel members, and panel hearings.
Brazil has considered filing a WTO complaint as a procedural step in response to U.S. tariffs.
Brazilian Vice President and Minister of Development, Industry, Trade and Services, Geraldo Alckmin, mentioned the initiation of the WTO dispute settlement process the previous day and said, "The final decision to file a complaint will be made by President Lula."
President Lula has repeatedly mentioned tariff adjustments through direct consultations with the United States and WTO complaints based on solidarity with other countries.
He has also suggested the possibility of imposing retaliatory tariffs in some cases, stating, "If all these processes fail, we will have to apply the principle of reciprocity."
The Brazilian government has strongly protested Trump's explicit reason for imposing a 50% tariff on Brazil – the trial of former President Bolsonaro for alleged coup plotting – calling it an "unfair political tariff."
Earlier, in a letter on Brazilian tariffs posted on social media last month, U.S. President Trump criticized the "unfair trial" of former President Bolsonaro as a "witch hunt" and presented it as the reason for imposing high tariffs.
Local media G1 pointed out, "Litigation at the WTO is expected to take a long time, and victory is not guaranteed," adding, "This is because the role and function of the WTO have weakened in recent years."
The Brazilian government estimates that approximately 35.9% of its exports to the United States will be affected by the U.S. imposition of a 50% tariff.
Yonhap News
Yonhap News More by this author