| | JUNE 20258South Korea's top trade minister expressed on Sunday that he will raise concerns about potential US restrictions on chipmakers in China when he meets US officials in Washington this week for the third round of technical discussions in tariff talks.According to the reports, Yeo Han-koo told reporters, "I will pass on the concerns among those in the industry and take atmost care," before leaving for Washington, when asked to comment about concerns the US may adopt policies to make it difficult for foreign chipmakers to operate in China.Yeo added, Seoul may continue suggesting talks beyond July 8 amid political and economic uncertainties in the US.Yeo, who was appointed to the role this month by President Lee Jae Myung, after winning a snap election on June 3, said during his campaign that there was no need to rush into a trade agreement with the United States.On Sunday, Yeo added he would reach out to officials at the White House and the US Congress to discuss various trade issues, including Washington's request for South Korea to loosen rules on imports of US beef. The outcome of these negotiations will be pivotal for South Korea's semiconductor industry and broader trade relations. SOUTH KOREA TO RAISE CONCERNS ON POTENTIAL CURBS CHINESE CHIPMAKERSIN FOCUSTesla Inc. plans to open its first showrooms in India in July, beginning official operations in the third-largest car market in the world as the Elon Musk-led company looks for expansion in the face of declining sales in China and Europe.According to reports, Tesla plans to launch its first showroom in Mumbai as early as mid-July. A second location will follow in New Delhi. According to the records, it has also imported automotive accessories, products, replacement parts, and Supercharger components from the US, China, and the Netherlands.The launch will put a close to a protracted, on-again, off-again story about Tesla's foray into India, a market Musk has long coveted but refrained from joining because of disputes over local production and tariffs. Following Musk's February meeting with Indian Prime Minister Narendra Modi in the US, Tesla made significant progress in bringing the company to India.Reports show that five Model Y cars have already arrived in Mumbai from Tesla's Shanghai facility. More than 2.1 million rupees in import tariffs were imposed on the autos, which were declared for 2.77 million rupees ($31,988). This amount is in line with India's 70% tariff on fully-built imported cars under $40,000 plus surcharges.Although Tesla will decide the ultimate sticker price based on its profit and positioning strategy, it is anticipated that the model will retail for more than $56,000 before taxes and insurance.In the US, the identical model sells for $37,490 after tax credits are applied, compared to an ex-showroom MSRP of $44,990.Since the automaker must persuade budget-conscious buyers to part with their cash, the premium price tag is probably going to be a significant obstacle to Tesla's objectives. According to data from the Indian government's vehicle registration page, premium automobiles still make up less than two percent of the market, even while EVs make up slightly more than five percent of new passenger vehicle sales in India.It is leasing warehouse space in the southern Indian state of Karnataka and is expanding in Gurugram, which is outside of New Delhi. TESLA TO OPEN INDIA SHOWROOMS IN JULY WITH MADE-IN-CHINA EVsIN FOCUSSouth Korea to craft a trade deal reducing tariffs by July 8, which is currently subject to a blanket 10 percent tariff with a 25 percent country-specific duty on pause for 90 days, as agreed with the US in their opening round of trade talks in late April
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