Japan-South Korea Trade Row Escalates: Latest Developments - Forex News by FX Leaders
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Japan-South Korea Trade Row Escalates: Latest Developments

Posted Monday, August 5, 2019 by
Arslan Butt • 1 min read

The trade row between South Korea is not only showing no signs of abating, but appears to be getting worse. According to recent reports, a boycott of Japanese manufactured goods by South Korean consumers has caused sales of Japanese cars to sink lower during July.

Sales of cars manufactured by Toyota fell 32% lower YoY while sales of Honda cars fell 34% lower YoY in July 2019. Analysts expect sales to decline even further as the call for boycott gains momentum among consumers in South Korea.

In addition, the South Korean government has announced its intention invest nearly $6.5 billion in R&D to reduce its dependence on Japan for key raw materials used in its tech industry. This is the latest retaliation officially by the government in response to Japan removing South Korea from its trade whitelist late last week.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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