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The United States will impose a 104% tariff on Chinese imports starting April 9, marking a significant shift in trade policy that could raise the average U.S. tariff rate to its highest since 1909. This move has already led to a $5.8 trillion loss in stock value and sparked retaliatory tariffs from Canada and the European Union, raising concerns of a broader trade conflict. Consumers are expected to face price increases, disproportionately affecting lower-income households.
Asian markets showed signs of recovery, with Japan's Nikkei 225 surging over 6% amid easing tensions following President Trump's tariff threats. The S&P 500 and Dow futures also rose, while the Hang Seng and Shanghai Composite gained modestly. However, markets in Thailand and Indonesia faced significant declines, reflecting ongoing global trade concerns.
LG Innotek has partnered with Intel to implement AI-powered vision inspection systems in its manufacturing processes, aiming for nearly 100% inspection accuracy and a 1.5x reduction in AI learning time. This collaboration is set to enhance production quality and cost efficiency, with plans to expand the system to additional facilities later this year. The initiative reflects a broader trend in manufacturing towards AI integration, projected to grow significantly in the coming years.
The South Korean won fell to a 16-year low, closing at 1,473.2 won per US dollar, amid concerns over new US tariffs, including a 25% duty on South Korean goods. This depreciation reflects vulnerabilities in South Korea's export-dependent economy, although it has stronger fundamentals than during past crises. The unprecedented scale of these tariffs poses risks not only to South Korea but also to global economic stability, with potential recession forecasts for the US economy.
In January-February 2025, CATL maintained its position as the leading global EV battery supplier with a 38.2% market share, while BYD followed with 16.9%. Together, they accounted for 55.1% of the total 129.9 GWh of EV batteries installed, reflecting a 40.3% year-on-year increase. Other notable players included LG Energy Solution, SK On, and Panasonic, with shares of 9.8%, 4.7%, and 3.9%, respectively.
LG CNS has entered into an $88.8 million agreement with Mirae Asset Life Insurance to enhance the insurer's AI capabilities and upgrade its core systems over the next two years. The project will focus on developing a generative AI platform and a multi-hybrid cloud environment, targeting improvements in product development, contract management, payments, accounting, and sales operations. Additionally, LG CNS will utilize Mirae Asset Life’s data to train large language models for an internal AI platform.
Asian markets experienced a significant downturn, with Japan's Nikkei 225 index plunging nearly 8% following a major sell-off on Wall Street driven by U.S. tariff hikes and retaliatory measures from China. The S&P 500 and Dow Jones saw declines of 6% and 5.5%, respectively, as uncertainty over the trade war escalated. Analysts warn of ongoing volatility and potential global recession risks as both nations impose heavy tariffs, impacting economies reliant on exports.
South Korea's finance ministry announced a $68 billion aid plan to support sectors impacted by new US tariffs, including a 25% tariff on imports set to take effect on April 9. The auto sector, crucial to South Korea's exports, will receive focused assistance as the KOSPI index hits a 17-month low. Trade Minister Cheong In-kyo is set to visit the US to negotiate potential tariff exemptions.
Asian markets experienced significant declines on April 7, following a sharp selloff on Wall Street amid rising US-China trade tensions. Japan’s Nikkei 225 fell nearly 8% before closing down 6%, while Hong Kong’s Hang Seng dropped 9.4%, and China’s Shanghai Composite declined 6.2%. Retaliatory tariffs announced by China, matching a 34% US levy on imports, fueled the turmoil, with US futures indicating further losses. Oil prices also fell, and the dollar weakened against the yen and euro, raising concerns about ongoing market volatility.
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