Trump threatens to hike tariffs on SKorean goods

President Donald Trump says he is increasing tariffs on South Korean goods because the country’s national assembly has yet to approve the trade framework announced last year. Trump said on social media Monday that import taxes would be raised on autos, lumber and pharmaceutical drugs from South Korea with the rate on other goods going from 15% to 25%.

The U.S. president previously imposed the tariffs by declaring an economic emergency and bypassing Congress, while South Korea needed legislative approval for the framework announced in July and affirmed during Trump’s October visit to the country. The threat was a reminder that the tariff drama unleashed last year by Trump is likely to be repeated again and again this year.

Minnesota CEOs issue letter for de-escalation

More than 60 CEOs of Minnesota-based companies signed an open letter posted on the Minnesota Chamber of Commerce website on Sunday calling for state, local and federal officials to work together, as businesses grapple with how to address tensions in the state and across the country following two fatal shootings by federal agents amid a massive immigration enforcement operation that has spurred protests.

CEOs who signed the letter included 3M CEO William Brown, Best Buy CEO Corie Barry, General Mills CEO Jeff Harmening, Target incoming CEO Michael Fiddelke,

UnitedHealth Group CEO Stephen Hemsley, and others. Over the past two weeks, protesters have targeted some businesses they see as aiding federal immigration enforcement, including Minneapolis-based Target.

European Union opens investigation into Grok

European Union regulators have opened a formal investigation into Elon Musk’s social media platform X after its AI chatbot Grok started producing nonconsensual sexualized deepfake images. The scrutiny from Brussels comes after Grok sparked backlash by using AI to undress people, including children, in images.

Some governments have banned the service or issued warnings. The EU’s executive is examining whether X has met its obligations under the Digital Services Act to contain illegal content. An X spokeswoman said the platform remains committed to safety and has zero tolerance for child sexual exploitation and non-consensual nudity.

Southwest Airlines’ assigned seats starting

Southwest Airlines passengers are making their final boarding-time scrambles for seats as the carrier prepares to end its signature open-seating system. Customers on Southwest flights will have assigned seats starting today.

The airline began selling tickets shaped by the new policy in July. New airfare tiers include the option of paying more to get a preferred seat closer to the front of a plane or seats with extra legroom. An eight‒group boarding structure is replacing the find-your-own-seat scrum. Southwest says the boarding groups are based on seat location, fare class, loyalty tier status and benefits from the airline’s credit card rewards program.

Trump invests in another US rare earth miner

The U.S. is taking a minority stake in an Oklahoma rare earth miner, the latest government investment in the sector as it seeks to minimize its reliance on imports of a material used prevalently in smartphones, robotics, electric vehicles and many other high tech products.

China processes more than 90% of the world’s critical minerals and has used its dominance in the market to gain leverage in the trade war with Washington. USA Rare Earth said Monday that the U.S. Commerce Department is investing $1.6 billion in the company to advance work on a mine in Texas and to build a magnet manufacturing facility in Oklahoma.