Trade agreements

South Koreans boycott Japan as trade tensions increase

South Korea President Moon Jae-in is welcomed by Japanese Prime Minister Shinzo Abe on the first day of the G20 summit in Osaka, Japan
President of South Korea Moon Jae-in (L) is welcomed by Japanese Prime Minister Shinzo Abe (R) on the first day of the G20 summit in Osaka, Japan on June 28, 2019. Photo: Metin Aktas/Anadolu Agency/Getty Images

A boycott of Japanese goods and services is picking up steam among South Koreans as trade tensions between the 2 countries continue to rise, reports AP.

Why it matters: The standoff began when Japan restricted exports of 3 chemicals used by South Korean tech manufacturers for semiconductors and display screens. That has hit chipmakers hard and angered South Koreans, some of whom have canceled trips to Japan or refused to buy Japanese products.

Warren proposes trade overhaul with strict preconditions for all countries

Democratic presidential candidate Elizabeth Warren gestures as she speaks during a campaign stop
Democratic presidential candidate Elizabeth Warren. Photo: Mandel Ngan/AFP via Getty Images

Elizabeth Warren has released a trade plan that would set up standards countries must meet as a precondition for any trade agreement, and she vows to renegotiate existing deals to meet that criteria.

Why it matters: President Trump’s approach to trade has upended traditional partisan divisions on the issue, shifting Republicans in favor of more restrictionist trade policies and Democrats toward defending free trade. This dynamic gives 2020 Democratic candidates an opportunity to implement a large-scale shift on an important policy issue for the party.