South Korea

August 1st is the deadline Donald Trump set for hiking tariffs with U.S. trading partners. The current trade deal between the U.S. and South Korea could cost Alabama consumers close to a billion dollars. The website Observatory of Economic Complexity says the state imported close to six billion dollars in goods from South Korea last year. If the fifteen percent tariff is tacked onto that figure on items entering the U.S., and the cost passed to consumers, the total increase would reportedly be close to a billion dollars.

Canadian Prime Minister Mark Carney says Canada will keep working toward a new trade framework with the United States despite U.S. President Donald Trump saying he'll raise taxes on many imported goods from Canada to 35%. Trump's move deepens a rift between two North American countries that have suffered a debilitating blow to their decades-old alliance. Alabama U.S. House member Terri Sewell was in Tuscaloosa for a small business round table at the Edge Incubator Center. She says tariffs, overall, may hurt Alabama.

INICS Batter Solutions Corps. supplies thermal barriers and other automobile products to South Korean companies and corporations like Hyundai Mobis, Kia and SK. Its latest plant in Auburn will add 30 new jobs to the community.

Hyundai Motor Company's labor union says steep auto tariffs could cost U.S. jobs, including here in Alabama.The labor union at South Korea's largest auto…