'Trump 100 Days' New York Stock Exchange Rises... Seoul Bus Negotiations Collapse Raises Commuting Concerns [Morning Briefing]

◆New York Stock Exchange Rises on Tariff Negotiation Expectations

Overnight, the New York Stock Exchange rose as news of smooth negotiations among major trading partners, excluding China, stimulated investor sentiment. At the New York Stock Exchange early this morning, the Dow Jones Industrial Average rose 0.75% from the previous trading day. The S&P 500 and Nasdaq indices rose 0.58% and 0.55%, respectively. U.S. Treasury Secretary Scott Besant explained the economic policy on the occasion of the Trump administration's 100th day, stating, "We will establish 18 important trade relationships in the next few weeks," and "17 are moving forward, excluding China." U.S. Commerce Secretary Howard Lutnick also stated in an interview with U.S. media that "there are countries with which the U.S. has completed trade agreements," and "only the approval of the counterpart's prime minister and parliament remains."

◆Seoul City Bus Labor Negotiations Collapse

Seoul city bus unions are set to begin a 'lawful struggle' from the first bus at 4 a.m. today, raising concerns of a commuting crisis. The union entered the final adjustment process with the Seoul City Bus Transportation Business Association, the management side, from 5 p.m. yesterday, but ultimately declared a breakdown in negotiations around 2 a.m. Seoul City plans to extend the subway's main rush hour operation from the current 7-9 a.m. to 7-10 a.m. and increase train input on lines 1-8 and the Ui-Sinseol line by 47 times as part of special transportation measures.

◆U.S. Eases Auto Parts Tariffs for Two Years

The Trump administration has decided to temporarily reduce the tariff burden on companies that manufacture cars in the U.S. using imported parts for two years. According to a senior official at the U.S. Department of Commerce, companies that complete cars in the U.S. and sell them in the U.S. will receive a 'credit' equivalent to 15% of the car's MSRP if they submit their records to the Department of Commerce. Companies can offset this credit against tariffs when importing auto parts in the future. This policy is planned to be implemented for two years. The U.S. has been imposing a 25% tariff on cars since the 3rd and will expand this tariff to auto parts from the 3rd of next month.

◆'Kim Moon-soo·Han Dong-hoon' Presidential Candidate Runoff Debate

The People Power Party will hold a runoff debate today between presidential candidates Kim Moon-soo and Han Dong-hoon, who have advanced to the final 'two-person primary.' The bilateral debate will feature a confrontation between the two candidates on issues such as their relationship with former President Yoon Seok-yeol and the potential unification with Acting President and Prime Minister Han Deok-soo. The final candidate will be selected at the party convention on the 3rd after a '50% party member electoral vote and 50% general public opinion poll' from the 1st to the 2nd.

◆Nationwide Mostly Clear... Daytime High of 28 Degrees

Today, Wednesday, the nation will be mostly clear. The daytime high is forecasted to be between 19 and 28 degrees. With dry weather warnings in effect in most areas, the atmosphere will be very dry. The Korea Meteorological Administration has advised caution against the use of fire, trash burning, and field burning, as strong winds can turn small sparks into large fires. The sea waves will be 0.5 to 2.0 meters in the East Sea, 0.5 to 2.5 meters in the West Sea, and 0.5 to 1.0 meters in the South Sea.

Jong-dong Noh, Hankyung.com Reporter dong2@hankyung.com