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Coupang unit to fully compensate sellers for warehouse fire losses SEOUL, July 22 (AJP) - Coupang Fulfillment Services (CFS) announced Wednesday it will fully compensate third-party sellers for inventory destroyed in a fire at its logistics center in Incheon, moving to shield its merchant partners from mounting operational losses. The blaze, which broke out at the Seoknam-dong complex, gutted stock belonging to sellers enrolled in Rocket Growth, Coupang's fulfillment service in which merchants entrust goods to the company for storage and delivery. Compensation will extend beyond the area consumed by the flames to inventory left untouched by the fire, the company said, covering secondary damage such as delayed retrieval and dust contamination. As a result, stock held at the 31, 41, 42 and 43 centers — housed in the same building as the fire-hit No. 32 center, where inbound shipments had been suspended — also qualifies for reimbursement. The company said it will tally each seller's inventory and, from mid-August, individually notify merchants of their total compensation, expected payout dates and a pared-down set of requirements, waiving cumbersome documentation such as invoices and packaging footage. CFS added that it will run a dedicated Rocket Growth consultation channel offering one-on-one support, saying it would spare no effort to ensure its partners do not face managerial hardship because of the incident. 2026-07-22 15:21:45
Toss Establishes 'CEO Project Lead' Position to Accelerate Innovation Toss, operated by Viva Republica, has created a dedicated position to work alongside the CEO on key projects. This move comes as the company rapidly expands its business scope and organizational size, necessitating a separate leader for critical tasks that cannot be assigned to specific teams.According to reports from the fintech industry on July 22, Toss has recently established the 'CEO Project Lead' role. The CEO Project Lead will collaborate with CEO Lee Seung-gun to review major service and product strategies and drive essential projects across various departments.Toss is enhancing its competitiveness as a financial platform while quickly broadening its business reach. The company is advancing key services such as personalized financial recommendations using artificial intelligence (AI), a face payment service called FacePay, and document automatic recognition (OCR). It is also improving product development efficiency by implementing its own design system and AI-based user experience (UX) design tools.Additionally, Toss is launching new services, including Toss Pay and tax services, expanding its reach as a lifestyle-oriented platform. In line with this business expansion, the number of employees surged from 1,126 at the end of 2024 to 1,986 by the end of last year, marking a 76.4% increase in just one year.As both the business and organization grow, there is a need for a role that can coordinate projects across different teams. With increasing complexity in service interconnections and more collaborative tasks involving multiple departments, it appears that the company has appointed a dedicated person to work closely with the CEO.The inaugural CEO Project Lead is Hyun-min Cho, who has experience in product growth and platform strategy. Cho studied political economy at UC Berkeley and has worked at global tech companies and startups, including Google, Turnitin, Hyperconnect, and Grip Labs, focusing on product growth, data business, and global strategy.Cho joined Toss Bank last year, where he led the newly established Growth organization, the first of its kind in the banking sector. He oversaw customer expansion strategies and service growth, managing Toss Bank's platform expansion efforts.A fintech industry insider noted, 'Toss operates a structure where various services are organically connected within a single app, leading to an inevitable increase in projects requiring inter-departmental coordination. Given that CEO Lee Seung-gun is deeply involved in the service development process, the CEO Project Lead will also play a crucial role in advancing key service initiatives alongside the CEO.'* This article has been translated by AI. 2026-07-22 15:20:00
Chinese Man Fakes Death to Escape DUI Charges A Chinese man facing charges for drunk driving staged his own death with the help of his family and then fled to another region, only to be apprehended by police.The South China Morning Post reported that the prosecutor's office in Anyang, Henan province, disclosed the incident to local media on July 22.The man, identified by the surname Xi, was arrested in January of last year for drunk driving. Police investigations revealed he had a history of two prior offenses for driving without a license while intoxicated. Xi was released on bail during the investigation.Fearing a prison sentence, Xi decided to fake his own death. He later stated during police questioning that he felt anxious about the possibility of a guilty verdict due to mounting debts and his criminal record, which he believed would make it difficult to restart his life.In June of last year, Xi purchased a coffin and scattered empty pill bottles around his home. He then held his breath and used cooling equipment to lower his body temperature, making it appear as though he had died from a drug overdose.His family participated in the plan. Xi's mother and grandmother covered his face with a cloth, claiming it was disfigured from drugs, and hurriedly buried the coffin before sunset. Xi then fled to Yunnan province in southwestern China, claiming he was looking for a job.When police responded to the death report, they were unable to verify the body as the coffin had already been buried. However, they found it suspicious that the family had prepared the coffin without attempting any emergency measures.Investigations revealed that there were no death certificates, cremation records, or documents for canceling his household registration. Relatives and villagers also stated that only Xi's mother and grandmother had seen his face directly.After reviewing CCTV footage, bank transactions, and call records, police concluded that Xi was alive and began tracking him down.Xi was captured in April. The court sentenced him to five months in prison and fined him 20,000 yuan (approximately $3,900) the following month. Police also launched an investigation into Xi's mother and grandmother for concealing a criminal.The prosecutor handling the case stated, "Faking one's death to evade the law is not only futile but can lead to more severe criminal liability."The incident has garnered over 10 million views on Chinese social media, sparking widespread discussion. One user remarked, "Is it really that hard to avoid drunk driving? He tried every trick to escape punishment but ultimately got caught."* This article has been translated by AI. 2026-07-22 15:20:00
Cha Women's Medical Institute Expands Seoul Station Center on 10th Anniversary Cha Women's Medical Institute at Seoul Station has completed its center expansion and has begun full-scale medical services to mark its 10th anniversary. The institute has enhanced its infertility treatment capabilities by optimizing patient flow, strengthening its collaborative treatment system, and upgrading its infection control infrastructure.On July 22, the institute announced that it has officially started medical services following the completion of the expansion.The key changes from the expansion include optimized patient flow and a strengthened collaborative treatment system. To comprehensively identify and treat infertility causes, the internal medicine and urology departments have been relocated and expanded, enhancing interdepartmental collaboration. Additional obstetrics and gynecology examination rooms have also been added to provide more detailed management of patients' underlying conditions and pregnancy preparation processes.Improvements have also been made to facility safety and infection control systems. The research facility's culture room has been renovated, and a new central supply room, comparable to that of a university hospital, has been established to ensure the sterilization and management of instruments and equipment used in procedures.As it celebrates its 10th anniversary this year, Cha Women's Medical Institute at Seoul Station plans to strengthen its medical capabilities by utilizing the expanded infrastructure, led by Director Yoon Tae-ki and Deputy Directors Kim Yoo-shin and Kim Hye-ok, who specialize in infertility treatment.Director Yoon Tae-ki stated, "With our newly revamped infrastructure and AI-based smart medical environment, we are embarking on a leap forward for the next decade. We aim to bring the joy of healthy pregnancies to infertility patients worldwide and to become a leading center for global infertility treatment."Cha Women's Medical Institute at Seoul Station, which opened in 2016, is the largest infertility center in Asia. It operates a 30-egg bank for women's fertility preservation and offers customized reproductive health management programs for infertility patients.* This article has been translated by AI. 2026-07-22 15:20:00
Vietnam's National Football Team Aims for Back-to-Back Titles at ASEAN Cup The Southeast Asian Football Championship, known as the ASEAN Modern Cup, will kick off on July 24, with the Vietnam national football team aiming for its first back-to-back titles. Under the leadership of coach Kim Sang-sik, Vietnam is riding a wave of momentum following its 2024 championship win and is eager to defend its title.According to the Vietnam Football Federation and local media on July 22, Kim emphasized the need for high concentration during the first official meeting in preparation for the 2026 ASEAN Cup. Vietnam has been placed in Group A alongside Singapore, Indonesia, Cambodia, and Timor-Leste, with its opening match against Timor-Leste on July 24.Kim conveyed to the players that they should not underestimate their opponents, even if some teams have not registered their strongest lineups. He stressed that every team will be looking to defeat the defending champions, and the national team must maximize its capabilities.The significance of this tournament goes beyond merely defending the title. The 2026 ASEAN Cup serves as a preparatory stage for the inaugural FIFA ASEAN Cup, scheduled from September 21 to October 6, and is also a stepping stone toward the 2027 Asian Cup and the 2030 World Cup qualifiers.Coach Kim Sang-sik Faces Heightened ExpectationsKim Sang-sik approaches this tournament from a different position than two years ago. Facing pressure to win or risk being dismissed before the 2024 ASEAN Cup, he successfully led Vietnam to victory through tactical changes and effective game management. Vietnam secured the 2024 ASEAN Cup title with seven wins out of eight matches. Since then, the national team has also qualified for the 2027 Asian Cup with six consecutive wins in the qualifiers.The upward trend has continued, with Vietnam adding three friendly wins to achieve a remarkable record of 16 wins and 2 losses over nearly two years. The team has climbed to 99th in the world rankings and enters the 2026 ASEAN Cup as the defending champion. The squad has also deepened, increasing the number of naturalized players from one to three, with Suan Son, Tai Lok, and Hoang Hen contributing to a recent 4-0 victory over Myanmar.Notably, Suan Son is recovering his scoring prowess after returning from injury, while Hoang Hen is recognized for his creative passing in the V-League, and Tai Lok has added Brazilian flair and finesse to the team. The growth of younger players like Nat Min and Dinh Park from the U23 team, who have won a bronze medal at the 2026 U23 Asian Cup, the SEA Games 33, and the 2025 U23 Southeast Asian Championship, has also enhanced the national team's competitiveness.Vietnam has prepared alternative resources to address gaps in the starting lineup. Lejang Patrick is mentioned as a potential replacement for Nguyen Philip, while Ban Hau can step in for Ban Bi, and Suan Main is considered a substitute for Jui Main. However, the weight of being champions has become a burden for Vietnam. Fans are demanding not just victories but also more dominant attacking play and stable game control, while opposing teams are analyzing Vietnam more closely.Indonesia Emerges as a Major Challenge to Back-to-Back TitlesTran Quoc Tuan, president of the Vietnam Football Federation, views this tournament as part of a long-term plan. He stated, "The ASEAN Cup is not just a tournament but part of a long journey, with each event serving as a stepping stone and preparation for the next." He emphasized that the 2026 ASEAN Cup is a precursor to the FIFA ASEAN Cup and the 2027 Asian Cup, requiring continuity, systematic planning, and stability in team composition and gameplay.The most challenging variable mentioned is Indonesia. Indonesia has bolstered its squad by naturalizing several players from Europe, including Olatmanun, Haye, Raben, Struijk, Jener, Reinders, and Walsh, and has advanced to the fourth round of the 2026 World Cup qualifiers.In this process, Indonesia has defeated Saudi Arabia, China, and Bahrain, and even drew with Australia. Two years ago, Vietnam struggled against Indonesia's second-string squad, making Kim's tactical acumen and game-reading skills even more crucial in this tournament. Additionally, Singapore and Thailand are also considered unpredictable opponents. Vietnam's group stage matches include an away game against Timor-Leste on July 24, a home game against Singapore on July 31, an away match against Indonesia on August 3, and a home game against Cambodia on August 7.Moreover, a historical challenge remains. Vietnam has never achieved back-to-back titles in the ASEAN Cup's predecessor, the AFF Cup. In 2010 and 2021, they entered as defending champions but were eliminated in the semifinals.Meanwhile, the ASEAN Cup has been renamed the ASEAN Hyundai Cup since last year, following Hyundai's involvement as the title partner, replacing the previous name, the ASEAN Mitsubishi Electric Cup. The ASEAN Cup will continue under the name ASEAN Hyundai Cup until the 2028 tournament.* This article has been translated by AI. 2026-07-22 15:16:00
Interview: Jung Ho-yeon on Her Film Debut in 'Hope' Jung Ho-yeon, who captured global attention with "Squid Game," makes her film debut in Na Hong-jin's new work "Hope." In the film, she portrays a police officer named Seong-ae, who confronts an unknown threat. As she embarks on her first action role, Jung prepared extensively by learning firearm handling and shooting techniques, obtaining a driver's license for high-performance vehicles, and undergoing drift training for car chase scenes. Stepping beyond her global star status, Jung aims to deliver a powerful performance filled with dynamic energy in "Hope." "I am grateful for the unexpected response to 'Squid Game,' but I also felt a lot of anxiety. I took my time before choosing my next project, avoiding hasty decisions. My senior colleagues advised me to work with more experienced professionals, so I aimed to select projects that aligned with that advice," she said. Meeting director Na Hong-jin on her first film set, Jung found him to be the uncompromising perfectionist he was rumored to be. However, she viewed his perfectionism as a blessing rather than a burden. "Director Na is indeed a perfectionist who does not compromise. But I see it as a blessing. He filled in the gaps I hadn’t considered. I felt there were no NGs (no good takes) on set. He often takes many shots, but there’s a reason for it, and he captures something good within those takes. This actually relieved some of my pressure. For my first scene, getting out of the car took over 20 takes, and I think he wanted to capture everything from my performance when I was fully energized to when I was instinctively expressing fatigue. I believe he used the cut that suited the scene best. Seong-ae appears in the film only after the first hour. Jung believes this impactful timing was not her own planning but rather a deliberate choice by the director within the script. "I think it was the director who designed it that way in the script. I knew I would appear at that point, but I didn’t imagine it would be so impactful while reading the script. I was more focused on how to effectively portray that moment," she explained. That scene received a warm round of applause from the audience during its screening at the Cannes Film Festival. Jung admitted that she was too busy with her schedule at the time to fully grasp the moment, but as time passed, she recognized it as a significant encouragement for her as an actress. "At that time, I think I was too overwhelmed to feel the thrill. I had many interviews and red carpet events, and my schedule was very hectic, so it’s hard to describe exactly how I felt. However, reflecting on it later, I realized that I had experienced moments in the past where I laughed and applauded at certain scenes in films. Just knowing that some audience members felt that way about my scene was a huge encouragement. It made me feel like I could continue working as an actress," she said. While preparing for complex firearm action, safety was her top priority. As it was her first action role, she focused on executing her scenes accurately within a safe environment. "I believe safety is number one in action acting. So rather than trying to enjoy the action too much, I aimed to perform safely. I wondered when I would have the chance to experience this. I had a six-month preparation period before filming. The firearm weighs about 5 kg, and since the director is known for taking many shots, I had to do weight training to handle that. I gained about 4 kg and worked hard on my cardio to improve my basic fitness," she said. In addition to firearm action, she also prepared for vehicle action. Jung obtained a manual transmission driver's license specifically for the car chase scenes and underwent racing training. "I practiced with firearms, but since there were many driving scenes, I obtained a manual transmission license. I originally only had a regular license, but after getting the license, I trained with a racing expert. I remember my first car action shoot. I think the director and the staff were more nervous than I was. The car I was driving had senior actor Hwang Jung-min in it, so everyone was tense about safety. The camera and art teams all came to give me extensive notes. But when too much information comes at once, it can feel overwhelming. At that moment, Jung-min said, 'Just do what you want.' That really helped me focus. Suddenly, I felt confident and energized, thinking, 'I can do this.' Watching the action performances of Hwang Jung-min and Jo In-sung up close was also a learning experience for Jung. She was inspired by their physicality and approach to the set. "Jung-min is incredibly agile. He moves so well, and I think he is not only great at action but also very flexible and precise overall. He captures the points perfectly, which is impressive. In-sung, as many know, had knee surgery and despite not being in top shape, he showed incredible dedication by hanging on wires to create this film. I think he endured the most physical challenges. Their unwavering passion inspired me, and they created an environment where I felt it was natural for me to follow suit," she said. Recently, directors she has worked with have described her as a "wild horse." Jung mentioned her strengths while also expressing her desire to improve. "Interestingly, both director Hwang Dong-hyuk and Na Hong-jin, as well as director Kim Ji-woon, have referred to me as a 'wild horse.' It’s fascinating that all three described me that way. While it feels good to be complimented, seeing my seniors makes me want to design my characters more intricately and develop them further. After watching Hwang Jung-min's performance as Beom-seok at Cannes, I felt envious, thinking, 'That’s what a lead actor's performance looks like.' Afterward, I asked the director and Jung-min, and they told me, 'Don’t try too hard.' Ultimately, I took that to mean that experience is something that time creates, and if I try to force something now, it will show. I concluded that the only way forward is to keep doing it consistently. Rather than calculating how to show a different side in my next project, I believe that if I work hard on my current role, I will naturally embody the elements of storytelling and design through experience," she said. Looking ahead, Jung expressed a strong desire to work in theater. She believes that the experience of engaging closely with an audience will further expand her abilities as an actress. "In the future, I definitely want to try theater. I think it will expand my skills and abilities. I want to experience being in close proximity to the audience," she said. * This article has been translated by AI. 2026-07-22 15:08:00
Yoon Ho-jung's First Year: Transforming National Safety Paradigms through Proactive Measures The Central Disaster and Safety Countermeasure Headquarters (CDSCH) has been a focal point during Yoon Ho-jung's first year as Minister of the Interior and Safety. The increasing frequency of unexpected disasters has sharpened his focus on the principle that "the safety and lives of citizens are the nation's top priority."In 2025, the country faced unprecedented challenges, including major wildfires that caused the largest forest damage on record, the hottest summer since 1973, record rainfall exceeding 100mm per hour, and the worst drought in 108 years. This week, forecasts predict heavy rain across the nation, raising concerns about landslides and flooding. Yoon, who began his tenure amid heavy rain, concluded his first year with a meeting on flood response.Yoon's first year has been characterized by a shift from reactive to proactive measures, and from departmental responses to a comprehensive national approach. His administration has emphasized on-site responses and data-driven decision-making.Excessive preparedness minimizes casualties during heavy rain and heatwavesThe government established a comprehensive plan for natural disaster response on May 12, designating a special response period from May 15 to October 15 for this summer.A notable change has been the redefinition of "danger zones." Instead of focusing solely on areas with flooding history, the criteria have expanded to include landslides, river disasters, and underground spaces, increasing the number of at-risk areas from 8,964 to 9,412.The proactive evacuation system has also been strengthened. A total of 24,525 individuals, including the elderly who may struggle to evacuate independently, have been designated as priority evacuees, with 35,697 residents matched one-on-one with evacuation support teams, doubling the previous year's efforts.Disaster information dissemination has been enhanced. To supplement the limitations of disaster text alerts, 3,033 civil defense sirens, 19,030 village broadcasting systems, and 25,128 warning facilities have been mobilized.On-site management has shifted to a "repeated inspection" system. Regular checks before rain and clean-up after rain have been institutionalized for over 4.238 million drainage grates, achieving a maintenance performance rate of 139.9%.As a result of these measures, the disaster recovery completion rate before the monsoon reached 93.7%, the highest in the last decade, and there have been no reported casualties so far.Wildfire incidents reduced by 99%; focus on on-site disaster responseIn addition to natural disasters, Yoon has emphasized on-site command in responding to social disasters. He has personally overseen major incidents, including a factory fire in Daejeon, an explosion in Yuseong District, and a logistics center fire in Incheon. By centralizing command from initial assessment to recovery, confusion has been minimized, and rapid decision-making on-site has played a crucial role in preventing further damage. Support for victims has also been provided through psychological recovery programs and emergency funding.Following the collapse of the old Seosomun Bridge, a nationwide survey of 115 aging bridges rated D and E was conducted, leading to institutional improvements. The fire in a dilapidated house in Eunpyeong District prompted a review of safety inspection systems for multi-family housing. The focus has shifted to eliminating structural risks, highlighting the importance of preemptive inspections and management, with follow-up measures including strengthened inspection cycles and clarified management responsibilities.Wildfire response has been a notable success. After last year's major wildfires, a comprehensive plan involving 11 agencies was established, resulting in a 99% reduction in wildfire-affected areas to 722 hectares this spring compared to the previous year, with no fatalities reported. This collaborative approach has been recognized for its effectiveness.The average wildfire extinguishing time has also been significantly reduced from 3 hours and 44 minutes to 1 hour and 34 minutes, attributed to improved initial responses, preemptive evacuations, equipment upgrades, and enhanced nighttime response capabilities.Safety as a right: Expanding national responsibility in laws, systems, and recoveryAnother key aspect of Yoon's first year has been the institutionalization of safety measures. The Life Safety Basic Act, passed in May at a Cabinet meeting, explicitly defines citizens' right to safety and the state's responsibility for protection, marking the first such legislation in 12 years since the Sewol ferry disaster. This law also aims to enhance the reliability of accident investigations through the establishment of independent investigative bodies.The national role in recovery after disasters has also expanded. Last year, 2.8498 trillion won was allocated for recovery from heavy rain, with an additional 214.4 billion won in disaster special grants to alleviate local financial burdens.Support for victims of social disasters continues, with direct communication facilitated through "memory, comfort, and healing dialogues" with families affected by the Sewol ferry, Itaewon, and Osong underpass tragedies, alongside follow-up measures such as joint audits and victim support teams.Additionally, efforts to address illegal structures along rivers and valleys have intensified. A nationwide re-survey identified 91,264 cases of illegal occupancy, and a dedicated organization is working to expedite remediation with a budget of 20 billion won in disaster special grants. Yoon has consistently emphasized that "we will not tolerate illegal and dangerous conditions" during his site visits.A Ministry of the Interior and Safety official stated, "Protecting the lives and safety of citizens is the nation's top priority, and we have strived to respond excessively in disaster management while thoroughly preparing and preventing in advance."The official added, "Under Minister Yoon Ho-jung's consistent principles and direction over the past year, we have managed disaster safety in response to wildfires, heavy rains, and large-scale fires. We will do our utmost to ensure the safety of the public's daily lives." 2026-07-22 15:04:00
Lee receives credentials from 8 new ambassadors to Seoul SEOUL, July 22 (AJP) - President Lee Jae Myung on Wednesday received letters of credence from eight newly appointed ambassadors to South Korea. At a ceremony at Cheong Wa Dae in central Seoul, the fourth since Lee took office, ambassadors from Brazil, Colombia, El Salvador, Kazakhstan, Kuwait, Laos, Nigeria and Tanzania presented their credentials to Lee. They were Brazil's Fernando Meirelles de Azevedo Pimentel, Colombia's Yovani Velásquez Quintero, El Salvador's Federico Guerrero Avendano, Kazakhstan's Asset Isenali, Kuwait's Azam Al Asfour, Laos' Kaimani Orabun, Nigeria's Nora Ladi Daduut and Tanzania's Noel Emmanuel Kaganda. Under diplomatic protocol, newly appointed ambassadors must present letters of credence from their heads of state to the host country's leader before formally taking up their posts. 2026-07-22 15:03:28
U.S. Prepares New Tariffs Ahead of Global Tariff Expiration on July 24 U.S. Trade Representative Jamie Grier announced that additional tariff measures to replace the global tariffs expiring on July 24 will be announced soon. President Donald Trump has also unveiled plans for tariffs on Canadian products and generic pharmaceuticals, signaling a renewed focus on U.S. tariff policy following a lull after a Supreme Court ruling.In an interview with CNBC on July 21, Grier stated, "I expect some measures to be announced soon." He added, "I cannot disclose a specific timeline at this moment, as I have a responsibility to explain the details to Congress and other stakeholders before making them public," while reiterating that action is expected shortly.The new tariffs are likely to be based on Section 301 of the Trade Act of 1974, which allows the U.S. to respond with tariffs to unfair or discriminatory policies and practices by foreign governments.The USTR launched an investigation in March into 60 economic zones for failing to adequately prohibit the use of forced labor in supply chains. Preliminary findings released earlier this month suggested imposing a 10% tariff on over ten trading partners, including Canada, Mexico, and the European Union, while a 12.5% tariff could be applied to more than 40 countries, including South Korea, China, India, and Japan.Grier asserted, "The U.S. has laws prohibiting the trade of goods produced with forced labor, but most other countries lack such laws or do not enforce them properly." He explained that the proposed tariffs would encompass about 99% of U.S. trade.However, the final tariff rates may differ from the preliminary proposals. Ryan Majerus, a trade attorney and former U.S. Commerce Department official, told the Wall Street Journal that since the trade agreements the U.S. made last year with South Korea, the EU, and Japan set most tariff caps at 15%, it is unlikely that the forced labor tariffs will exceed that threshold.Additionally, the USTR is conducting a separate Section 301 investigation addressing structural overproduction issues in over ten countries, including China and South Korea. Preliminary tariff proposals related to this investigation could be released as early as next month.This move coincides with the expiration of the 10% global tariff imposed by President Trump under Section 122 of the Trade Act, which will end at 12:01 a.m. Eastern Time on July 24. Following a Supreme Court ruling in February that deemed reciprocal tariffs based on the International Emergency Economic Powers Act (IEEPA) invalid, Trump temporarily imposed a 10% tariff on nearly all imports. Tariffs under Section 122 can only be maintained for a maximum of 150 days.Renewed Concerns Over TariffsThe Wall Street Journal noted that during the temporary tariff period, trade policy stabilized, allowing businesses that had faced frequent policy changes to catch their breath. However, with the new tariff announcement imminent, this period of calm is coming to an end.Drew DeLong, a former U.S. State Department official and consultant, told the Journal that if Section 301 tariffs are fully implemented, the average U.S. tariff rate, currently around 11%, could rise to approximately 17%, similar to levels before the Supreme Court ruling.Tariffs based on forced labor concerns may also be politically challenging to repeal. Tiffany Smith, vice president of global trade policy at the National Foreign Trade Council (NFTC), told CNBC, "It will be much harder for the next administration to repeal tariffs imposed to address forced labor," adding that the Section 301 tariffs are likely to last much longer.The Trump administration is also utilizing other legal frameworks. On July 20, Trump signed three proclamations imposing an additional 50% tariff on certain Canadian products due to discrimination against U.S. goods. This action invoked Section 338 of the Tariff Act of 1930, which has not been used for actual tariff imposition before. CNN analyzed that if the U.S. broadly interprets 'discrimination against domestic products,' it could create a legal pathway to impose high tariffs on other countries.Greg Hushion, a trade attorney at Polsinelli, told CNN, "Other countries should take this threat seriously," emphasizing that this action demonstrates Trump’s intent to continue using tariff threats to achieve foreign policy goals during his term.Notably, the new Canadian tariffs will also apply to duty-free items under the United States-Mexico-Canada Agreement (USMCA). CNN remarked that this implies existing trade agreements may not serve as safeguards against tariffs for other countries.Meanwhile, Trump has also announced a phased tariff plan for generic pharmaceuticals. He stated via Truth Social that he would maintain a 0% tariff on imported generic drugs for two years, followed by a 100% tariff for one year, and then a 200% tariff thereafter.* This article has been translated by AI. 2026-07-22 15:00:00
China's Youth Unemployment Rate Expected to Approach 20% Amid AI Expansion China's youth unemployment rate is projected to near 20% soon, driven by an economic downturn and the spread of artificial intelligence (AI). According to Bloomberg, citing data from the National Bureau of Statistics, the urban unemployment rate for individuals aged 16 to 24 (excluding students) reached 14.9% in June.The youth unemployment rate in China typically hits a low point in June before rising sharply as a large number of university graduates enter the labor market during the summer. The Ministry of Education reports that this year, a record 12.7 million university graduates are expected, marking an increase of about 4% from last year.Xing Zhaopeng, an economist at Australia and New Zealand Banking Group (ANZ), predicts that the youth unemployment rate will approach 20% in the next two months. He stated, "Weak domestic demand and the widespread adoption of AI will contribute to rising youth unemployment."Experts believe that the rapid spread of AI is quickly transforming the structure of China's labor market. HSBC has noted that China's AI adoption rate is ahead of the United States and is among the highest globally. Citigroup forecasts that approximately 70 million jobs in China could be affected by the spread of AI in the long term.As employment uncertainty grows due to AI expansion, the Chinese government did not set a new urban employment target in its recently announced five-year plan for the first time since the 1990s. Additionally, the employment index in China's manufacturing Purchasing Managers' Index (PMI) continued to show contraction, a trend that has persisted since March 2023.Meanwhile, the Ministry of Human Resources and Social Security reported on July 22 that 6.95 million new urban jobs were created in the first half of the year, maintaining the same level as the previous year, while the average urban survey unemployment rate stood at 5.2%, indicating overall employment stability.* This article has been translated by AI. 2026-07-22 15:00:00