UK closes in on US trade pact with lower tariff quotas for cars and steel

South Korean leader says agreement eliminates ‘uncertainties’ in trade environment.President Trump announced a new trade deal with South Korea, imposing a 15% tariff on South Korean goods while exempting US exports, ahead of a looming August 1 tariff deadline. South Korean President Lee Jae-myung stated the agreement ensures competitive tariff levels and strengthens US-South Korea industrial cooperation. Want More Context? 🔎

Prime Minister Mark Carney announced that Canada plans to recognize a Palestinian state in September, contingent on democratic reforms by the Palestinian Authority, including elections without Hamas. This decision follows similar announcements from the UK and France, amid rising humanitarian concerns in Gaza, though it has faced criticism from Israel and Canada's Conservative Party. Want More Context? 🔎

Prime Minister Mark Carney announced that Canada will recognize a State of Palestine at the UN in September, contingent on reforms by the Palestinian Authority, including demilitarization and elections in 2026. This decision, criticized by Israel, reflects Canada's response to the humanitarian crisis in Gaza and follows similar announcements from France and the UK, marking a significant shift in Canada's foreign policy. Want More Context? 🔎

A radioactive wasp nest was discovered during a routine check at the Savannah River Site, a former nuclear bomb manufacturing plant, raising concerns about potential human exposure. Although the nest contained radiation levels exceeding federal limits, officials reported no contamination nearby, and the situation was deemed an onsite legacy issue, with no threat to workers or the public. Want More Context? 🔎

President Trump announced a 15% tariff on South Korean imports as part of a trade deal that avoids a higher 25% levy, with South Korea committing to invest $350 billion in the US and purchase $100 billion in energy products. South Korean President Lee Jae Myung will visit the White House soon, while Trump’s tariffs aim to boost American manufacturing despite criticism over rising consumer prices. Want More Context? 🔎

Labor's election promise to reduce student debts by 20% has successfully passed parliament, benefiting over 3 million Australians with an average relief of $5,520. The bill also raises the minimum income repayment threshold from $54,000 to $67,000 and lowers repayment rates, despite opposition from One Nation senators and an empty opposition bench during the vote. Want More Context? 🔎