South Korea Cuts Rates Amid Trump Trade Concerns

The Bank of Korea has unexpectedly cut interest rates to 3% in response to concerns over the economic impact of Donald Trump's second presidency, including potential tariffs on major trading partners. This move reflects fears of slowing growth and falling inflation in South Korea, which is heavily reliant on exports. The central bank also revised its growth forecasts downward, citing increased economic risks and uncertainty due to US trade policies. The decision comes amid a backdrop of declining profits in key sectors and a record trade surplus with the US, raising concerns about future economic stability.