[Morning Briefing] US Stock Market Falls on Trump's 'Inconsistent' Tariff Policy... Nasdaq Down 2.61%

◆ New York Stock Market Closes with Nasdaq Down 2.61% Amid Anxiety Over Trump's Tariff Delay

The three major New York stock indices plummeted. On the 6th local time, the Dow Jones Industrial Average closed at 42,579.08, down 0.99% from the previous session at the New York Stock Exchange (NYSE). The S&P 500 index closed at 5,738.52, down 1.78%, while the Nasdaq index finished at 18,069.26, down 2.61%. Although US President Donald Trump officially decided to delay the 25% tariff on many Canadian and Mexican imports for about a month, investor sentiment actually worsened. This is interpreted as investors being weighed down by concerns that uncertainty surrounding the Trump administration's tariff policy will continue even if tariffs are delayed.

◆ Trump: "Additional One-Month Exemption for Mexican and Canadian Goods Covered by Trade Agreement"

US President Donald Trump has decided to delay a significant portion of the 25% tariffs imposed on Mexico and Canada for about one month. On the 6th local time, President Trump signed an executive order exempting products imported from Mexico and Canada that are covered by the United States-Mexico-Canada Agreement (USMCA) from the '25% tariff' until April 2. This dramatically expands the scope of exemptions following his decision the previous day to exempt Mexican and Canadian automobiles from tariffs for one month. As a result, the 25% tariffs that President Trump imposed on Mexico and Canada starting from the 4th after a one-month grace period have now been further delayed by an additional month for a substantial portion of goods. This is interpreted as taking into consideration the negative effects that high tariffs on Canada and Mexico would have on the US economy.

◆ Medical Education Plan to be Announced Today... Expected to Reveal 3,058 Recruitment Spots for March Returnees

The government will announce its medical education normalization plan on the 7th. The Ministry of Education is scheduled to explain the operation and support plans for the medical school curriculum for classes of '24 and '25 at a briefing on medical student return and normalization of medical education at the Government Complex at 2 PM today. With last year's class of '24 taking a leave of absence, the first-year class this year is expected to include up to 7,500 students, including the class of '24 and the incoming class of '25. For the class of '24, there is a high possibility that measures will be introduced to allow them to enter the main medical course faster than the class of '25, such as implementing a 5.5-semester system. There is also expected to be mention of the 2026 academic year quota, which is of greatest interest. Previously, the Korean Association of Medical Colleges (KAMC) officially proposed to the government to freeze medical school quotas at 3,058, the number before the increase, and the government has decided to accept this. However, accepting the 3,058 quota is contingent on medical students who took leaves of absence returning by March.

◆ 3,271 Ultra-High-Income Employees Earning Over 119 Million Won Monthly

Nearly 3,300 ultra-high-income health insurance workplace subscribers received monthly salaries exceeding 119 million won last year. According to data on 'Annual Status of Subjects Paying Maximum Health Insurance Premiums Based on Monthly Salary' that Representative Kim Sun-min (Jokuk Innovation Party) of the National Assembly's Health and Welfare Committee received from the National Health Insurance Service on the 7th, 3,271 workplace subscribers paid the maximum health insurance premium on their salaries in 2024. The National Health Insurance Service adjusts the maximum premium slightly each year in accordance with the National Health Insurance Act Enforcement Decree (Article 32), setting it at 30 times the average premium for employed persons from two years prior (15 times for regional subscribers), taking into account wage increase levels. The maximum health insurance premium for monthly salary in 2024 was 8,481,420 won. When converted to monthly salary, this amounts to 119,625,000 won, or an annual salary of 1,435,500,000 won.

◆ Temperature Difference Over 10 Degrees "Be Careful of Colds"

On Friday the 7th, daytime temperatures are expected to rise to a maximum of 12 degrees, making it warm, but the daily temperature range will exceed 10 degrees, requiring attention to health management. The Korea Meteorological Administration forecasted that the country will be mostly clear before clouds increase in the afternoon. Morning low temperatures will range from -6 to 3 degrees, and daytime high temperatures from 7 to 12 degrees, similar to the seasonal average (lows of -4 to 4 degrees, highs of 8 to 12 degrees). For the time being, as daytime temperatures rise, especially inland, the difference between day and night temperatures will be large, exceeding 10 degrees. Fine dust concentrations are expected to be 'bad' in South Chungcheong, Gwangju, and North Jeolla provinces, and 'good' to 'moderate' in other regions, as fine dust that entered the previous day and domestically generated fine dust accumulate due to atmospheric stagnation. However, the Seoul metropolitan area, Daejeon, Sejong, and North Chungcheong provinces are expected to experience 'bad' levels in the morning and at night.

Kim Ye-rang, Hankyung.com reporter yesrang@hankyung.com