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World

Title: Hyundai EV Factory Raid: 475 Arrested, Tensions Rise with South Korea

by Lucas Fernandez – World Editor September 6, 2025
written by Lucas Fernandez – World Editor

WASHINGTON,D.C. – U.S. authorities⁤ have arrested 475 individuals, the ⁣vast majority of whom are South Korean nationals, in connection with alleged visa fraud related ⁣to a ⁣hyundai automotive factory currently ‍under construction in Georgia, ⁤federal prosecutors announced Wednesday.the arrests, part of an ongoing investigation, center around claims‌ that ⁣individuals were ‌brought to the United States with false ‍pretenses – specifically, ⁣visas ⁢obtained under the​ guise of tourism when their true intent was to work at the ⁢sprawling⁤ Hyundai plant in Bryan County. The⁢ scheme ‌allegedly involved ​recruitment agencies promising ⁣employment opportunities​ while circumventing standard labour and‍ immigration protocols.The investigation, led by the Department of Homeland Security, highlights ongoing concerns about labor exploitation and the integrity of the U.S.visa system as major manufacturers expand operations⁤ within the country.

The ⁢Hyundai Motor Group is investing $5.5 billion in the Georgia facility, slated to produce electric vehicles⁤ and batteries, and is expected to create thousands of ‌jobs. The‌ alleged visa fraud casts a shadow over the project and raises questions about labor practices within the supply ‍chain. Prosecutors allege the scheme deprived qualified American ​workers of legitimate employment opportunities and perhaps subjected the foreign ⁤nationals to exploitative working‌ conditions.

South Korea’s Ministry of Foreign Affairs expressed regret ‍over the incident, ​stating it is indeed closely monitoring the situation and providing consular support to those ‌affected. A ministry spokesperson confirmed they are ⁤in interaction ⁣with U.S. authorities to ensure the rights ‌and ⁢well-being⁢ of ⁢its citizens are ‌protected.

“We are⁤ deeply concerned by the reports and​ are committed to assisting our nationals who may have been victims of this alleged fraud,” the spokesperson said. “We are cooperating fully with​ the U.S. investigation.”

The investigation remains ​active, and further ​arrests ⁣are possible as authorities continue to unravel the extent of the alleged scheme.Those arrested face​ charges including visa fraud, conspiracy, and harboring undocumented workers.‍ The case⁢ underscores the challenges of ‍balancing economic⁢ progress with the need‌ to uphold labor standards and immigration laws.

September 6, 2025 0 comments
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World

Mexico Border Town Faces Economic Crisis Due to Trump Tariffs

by Lucas Fernandez – World Editor September 6, 2025
written by Lucas Fernandez – World Editor

Trump-Era Tariffs Drive Economic Downturn in Northern Mexico Border Region

CIUDAD JUÁREZ, Mexico – Rising wages and ongoing trade uncertainty stemming from former President Donald Trump’s ⁤tariffs are contributing to business closures and meaningful job losses in Mexico’s northern ​border region, according to recent reports.⁢ Teh economic strain is impacting manufacturers and highlighting the lasting consequences of the ​trade policies implemented during the previous administration.

The situation underscores the vulnerability of⁤ border economies to shifts in‍ U.S. trade policy. Businesses reliant on cross-border commerce are facing increased costs and unpredictable demand, leading to production cuts and, in certain specific cases, complete shutdowns. This downturn affects thousands of workers and threatens the⁣ economic stability of communities along the U.S.-Mexico border.

French electronics‍ manufacturer Lacroix announced it will cease operations in ‌the region​ by year’s end, attributing the decision to sustained⁤ losses and the persistent ambiguity surrounding trade relations. The company’s withdrawal ‍marks a significant blow to the local manufacturing sector.

Further illustrating the economic challenges, Sol Saryandia, head of the regional corporate alliance Border Block Trade, has drastically⁢ reduced staff at his nail factory. ​Employment has plummeted ⁤from ⁤approximately 90 workers in 2023 to just 20, as customers curtail spending. “Customers are cutting⁣ costs. We ⁤had an order yesterday, but no today,” ‌Saryandia stated.​

The developments signal a broader trend of economic contraction in the region, fueled by the lingering effects ‍of tariffs and anxieties about ⁢future trade policies.

September 6, 2025 0 comments
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Business

Mazda Profit Plummets Amid US Tariffs, Forecasts 50 Billion Yen Loss

by Priya Shah – Business Editor August 5, 2025
written by Priya Shah – Business Editor

Tokyo, Japan – A Japanese company reported a profit of 46.1 billion yen for the recent fiscal period, a decline from the 50.3 billion yen earned in the same period last year. The financial results, released today, highlight the ongoing impact of global tariffs, despite mitigation efforts.

The company initially faced a 69.7 billion yen impact from tariffs. Though, strategic cost reductions adn a shift in sales composition have lessened the burden to 49.6 billion yen. thes adjustments included streamlining fixed costs and prioritizing product lines less susceptible to tariff increases.

Free cash flow experienced a significant downturn, posting a deficit of 96.8 billion yen compared to a surplus of 105.7 billion yen in the previous year. Company officials stated they are actively working to reverse this trend and project a return to positive free cash flow for the full fiscal year. The company did not specify the industry it operates in, or the specific regions affected by the tariffs.

The report was edited by Shiraki Maki and Tanaka Shiho of Thomson Reuters, who adhere to the Thomson Reuters Trust Principles.

August 5, 2025 0 comments
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Business

US-South Korea Trade Deal: 15% Tariffs, $350B Investment | Reuters

by Priya Shah – Business Editor July 31, 2025
written by Priya Shah – Business Editor

US-South Korea Trade Deal Sees Tariff Reduction on Cars, Other Sectors Unchanged

Table of Contents

  • US-South Korea Trade Deal Sees Tariff Reduction on Cars, Other Sectors Unchanged
    • key Provisions of the Agreement
    • uncertainties and Future Announcements

Seoul, South Korea – A recently concluded trade agreement between the United states and South Korea will reduce tariffs on South Korean automobiles, while other key sectors like semiconductors and drugs will maintain existing tariff rates. The deal also leaves tariffs on steel, aluminum, and copper unchanged, and outlines South Korea’s energy purchases over the next three and a half years.

key Provisions of the Agreement

the South Korean Presidential Office announced that the trade agreement with the U.S. will lower the tariff rate on south Korean cars from 25% to 15%. This adjustment is a significant advancement for the automotive sector involved in the bilateral trade.

In sensitive areas such as rice and beef, the agreement will not expand market access to the United States, according to Kim Yong-Hong-Hon-kun, head of the presidential office’s policy office. This indicates a continued protection of these specific agricultural markets.

Conversely,U.S. President Donald trump and U.S. officials have stated that non-tariff barriers for agricultural products will be eliminated. Trump further asserted that South Korea will grant tariff-free access to U.S. products, including cars, trucks, and agricultural goods.

The agreement also incorporates existing investment plans by Korean companies into an investment fund. Specific safety measures for the utilization of these funds have been established.

uncertainties and Future Announcements

Details regarding the investment contract’s structure, the funding provider, the investment duration, and the agreement’s binding nature remain undisclosed at this time. President Trump indicated that further South Korean investments will be announced at a later date.

Regarding other trade aspects, it was emphasized that South Korea’s semiconductor and drug sectors will not face stricter regulations than those applied in other countries.Furthermore, steel, aluminum, and copper products are not included in the new agreement, meaning their existing tariff rates will persist.

This report is based on details provided by the South Korean Presidential Office and statements from U.S. officials.

Thomson Reuters, “Principles of Trust”

July 31, 2025 0 comments
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