South Korea's exports experienced a notable increase of 7.7% in January compared to the same month last year, according to data released by the customs office. This growth comes amid domestic political challenges and ongoing concerns regarding potential tariffs from the United States.
In related economic developments, Canada announced plans to implement escalating retaliatory counter-tariffs in response to President Donald Trump's 25% tariffs on Canadian goods. Natural Resources Minister Jonathan Wilkinson indicated that the focus would be on American products that are widely sold in Canada, particularly those for which alternatives are readily available.