[Morning Briefing] Supreme Court, second hearing on Lee Jae-myung case today... Minister of Industry discusses tariffs with the US

◆Supreme Court en banc, second hearing on Lee Jae-myung case

The Supreme Court en banc will hold its second session today, the 24th, to review and examine the issues in the case of Lee Jae-myung, former leader of the Democratic Party of Korea, accused of violating the Public Official Election Act. The en banc session is usually held once a month on the third Thursday, but additional sessions can be scheduled at any time. The Supreme Court's unusual speed in scheduling the first and subsequent sessions indicates the importance it places on the case. Some in the legal community see this as reflecting Chief Justice Cho Hee-dae's commitment to resolving 'trial delays' since taking office.

◆Ahn Deok-geun, Minister of Trade, Industry and Energy, visits the US for tariff negotiations

Ahn Deok-geun, Minister of Trade, Industry and Energy, visited the US on the 23rd local time for tariff negotiations. At Dulles Airport near Washington, DC, Minister Ahn stated that the goal of the tariff negotiations is to eliminate the mutual tariffs currently imposed. He further mentioned that the 25% tariff on automobiles is causing significant issues in trade with the US and that they plan to resolve this issue as quickly as possible through negotiations.

◆"Trump plans to exempt some tariffs on auto parts for car manufacturers"

US President Donald Trump plans to exempt some tariffs related to auto parts for domestic car manufacturers, Reuters reported on the 23rd local time, citing the Financial Times. The core of the plan under consideration by President Trump is to exclude auto parts from the 25% steel and aluminum tariffs imposed globally. The Financial Times also reported that auto parts are being considered for exemption from the 20% tariffs imposed on China by President Trump due to insufficient cooperation in curbing the influx of synthetic drug fentanyl precursors into the US.

◆Trump to decide on China tariffs in 2-3 weeks

US President Donald Trump stated on the 23rd local time that the US and China will create a 'fair' agreement regarding the high tariffs imposed on each other. However, White House spokeswoman Caroline Levitt said in an interview with Fox News that there will be no unilateral tariff reductions on China. Since the start of Trump's second administration, the US has imposed a 145% tariff on China, and China has imposed a 125% tariff on the US.

◆Trump 'calms the market'... New York Stock Exchange rises

US President Donald Trump took a conciliatory stance on tariff policy and interest rate cuts from the central bank, leading to a rise in the New York Stock Exchange on the 23rd local time. The Dow Jones Industrial Average closed up 1.07%, the S&P 500 index rose 1.67%, and the tech-heavy Nasdaq Composite Index increased by 2.50%. Tesla's stock, in particular, rose 5.4% as CEO Elon Musk announced he would reduce government duties and focus more on Tesla management starting next month.

◆Prohibited 'humidifier disinfectant' ingredient found in children's toys from China

Harmful substances, including ingredients from humidifier disinfectants banned in Korea, were found in children's toys sold on Chinese online platforms, leading to a sales suspension. The Seoul Metropolitan Government announced on the 24th that safety tests on 25 types of toys sold on platforms like Temu, Shein, and AliExpress revealed that four products were non-compliant. One type of keyring doll contained phthalate plasticizers at 278.6 times the domestic standard, classified as a possible human carcinogen by the International Agency for Research on Cancer. One type of children's clay contained chloromethylisothiazolinone (CMIT) and methylisothiazolinone (MIT), which are banned in Korea and were controversial for their harmfulness as humidifier disinfectant ingredients. The Seoul Metropolitan Government advised caution when purchasing children's products from overseas direct purchases.

Soojin Choi, Hankyung.com reporter naive@hankyung.com