Group 1: EU and US Trade Negotiations - The US plans to impose a 30% tariff on EU imports starting August 1, 2025, which has caused significant concern within the EU [2] - EU leaders, including Commission President von der Leyen and Council President Costa, emphasize the importance of fair trade and express readiness to negotiate while warning of potential countermeasures [3] - French President Macron and other EU officials call for immediate action and preparation of credible countermeasures if no agreement is reached by the deadline [3] Group 2: South Korea's Trade Strategy - South Korea is seeking to negotiate tariff reductions with the US, inspired by the recent US-UK trade agreement [4][5] - The automotive sector is a focal point for South Korea, with exports to the US projected to reach $34.2 billion in 2024, accounting for 26.8% of total exports to the US [6] - Experts suggest that South Korea could leverage US needs in shipbuilding and LNG projects to negotiate better terms for automotive and semiconductor exports [6] Group 3: Economic Implications - A successful trade agreement between the EU and the US could stabilize supply chains and protect the interests of businesses and consumers on both sides [7] - Conversely, failure to reach an agreement could lead to significant economic losses for both the EU and South Korea, impacting key industries and overall economic growth [7]