US-South Korea tariff deal: Reduced duties, nuclear submarines, shipbuilding and more – What’s in the new agreement?

South Korea and the US have finalized a trade and security agreement, reducing US import duties on South Korean products from 25% to 15%. The deal includes South Korea building nuclear-powered submarines and establishing new partnerships in shipbuilding, AI, and the nuclear industry. South Korea will also invest $350 billion in the US.

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Ford CEO warns US of a workforce crisis: “We have 5,000 skilled-mechanic jobs unfilled even with a $120,000 salary.”

Ford CEO Jim Farley warns of a national crisis as the company struggles to fill 5,000 skilled mechanic roles, despite offering $120,000 salaries. This shortage, impacting manufacturing and essential services, stems from a collapse in trade education. While Gen Z shows renewed interest in trades, rebuilding the talent pipeline will take years.

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$100 billion trade target by 2030: India, Russia discuss boost to bilateral ties; marine and pharma products in focus

India has urged Russia to expedite the approval of domestic establishments and registration of marine and pharmaceutical products to boost bilateral trade. During a Moscow visit, Commerce Secretary Rajesh Agrawal highlighted opportunities for expanding trade and improving market access, aiming to raise bilateral trade to $100 billion by 2030.

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Delhi markets fall silent after Red Fort blast: Footfall drops drastically in Sadar, Chandni Chowk; buyers move online

Central Delhi’s wholesale markets are experiencing a significant downturn following a blast near the Red Fort. Outstation buyers are increasingly opting for online purchases, leading to a 50% drop in footfall at Sadar Bazaar and Chandni Chowk. While Sarojini Nagar market remains unaffected, Lajpat Rai Market is largely shut, with traders expressing fear and livelihood…

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Oil market ‘lopsided’ as output surpasses demand; four million BPD supply surplus likely by 2026: IEA

Global oil markets are bracing for a significant surplus, with production set to outstrip demand by over four million barrels daily by 2026, according to the IEA. Despite a boost from China, supply growth is outpacing consumption, leading to an “askew” market balance. Uncertainties like trade disputes and sanctions add to the complex outlook.

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