Credit markets shrug off geopolitical turmoil as investors seek yield, SocGen says
Credit markets shrug off geopolitical turmoil as investors seek yield, SocGen says
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Credit markets shrug off geopolitical turmoil as investors seek yield, SocGen says
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Han Seong-sook, minister of SMEs and startups. Photo by Asia Today
June 2 (Asia Today) — South Korean small business owners called for more practical labor consulting and measures to ease payroll burdens during a government meeting Tuesday.
The Ministry of SMEs and Startups held a roundtable on labor difficulties facing small businesses at the Korea Certified Public Labor Attorneys Association in Yeongdeungpo-gu, Seoul.
Minister Han Seong-sook, government officials and representatives from convenience stores, restaurants and cafes attended the meeting to discuss labor management difficulties in the field.
Participants said complicated wage rules, including weekly holiday allowances and severance pay, have become a major management burden. They urged the government to provide professional consulting support.
At the meeting, the ministry announced support measures to help small businesses manage labor issues. The measures include a question-and-answer guidebook on commonly missed labor rules, regional on-site briefings and stronger online guidance through short-form videos.
The ministry also plans to help resolve disputes through counseling centers and labor lawyers. It said it will link a 24-hour artificial intelligence labor law counseling service with Small Business 24, a government support platform for small businesses.
Small business groups, however, expressed disappointment with the measures. They said expanding online and offline counseling channels could become a formality unless the government also secures enough budget and staffing to handle a surge in labor complaints.
They also said 24-hour AI counseling may have limits because labor disputes often involve complicated facts and competing interests that differ from case to case.
Participants emphasized that small businesses need more than basic information or counseling. They said the government should build a field-based consulting system and adopt policies that directly reduce labor cost pressures.
They said the government needs a bolder approach that goes beyond publicity-focused measures to address the core problems facing small businesses, including complex employment structures and allowance management.
“We will implement the measures announced today without disruption to create an environment where small business owners can run their businesses with confidence,” Han said.
The government said it will continue listening to difficulties in the field and review possible improvements to the system.
— Reported by Asia Today; translated by UPI
© Asia Today. Unauthorized reproduction or redistribution prohibited.
Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260602010000499
NEW YORK — American businesses big and small have started receiving tariff refunds after the U.S. Supreme Court ruled that President Trump lacked the constitutional authority to impose higher import taxes on goods from nearly every other country.
The process could grind to a halt, however, after the Trump administration said Friday that it intended to appeal a federal judge’s order to allow all companies that paid the illegal import taxes to seek refunds, not just the ones that filed lawsuits.
Until the Department of Justice informed the judge of its planned appeal, the refund system overseen by U.S. Customs and Border Protection had been working fairly smoothly. Refunds reached the bank accounts of the first successful applicants on May 12, about three weeks after American importers and their customs brokers could start submitting claims through an online system, according to CBP.
Applications for refunds totaling $85 billion — more than half of the $166 billion the agency estimated the government owes to companies that paid the illegal tariffs on imported goods — were accepted for processing as of May 22, CBP reported in a legal filing earlier in the week. It said it had so far directed the Treasury Department to issue $20.6 billion in refunds.
The administration revealed its appeal preparations while objecting to a demand by Judge Richard K. Eaton for CBP Commissioner Rodney Scott to appear in the U.S. Court of International Trade to answer questions about how long it would take to repay all 330,000 importers that might be eligible for refunds. The judge has scheduled a June 9 hearing on why he shouldn’t require the government do whatever it takes to speed up the process.
Justice Department lawyers asked Eaton to allow one or two of Scott’s deputies to appear in his place, arguing that as a high-ranking presidential appointee, the CBP chief could not be compelled to testify in court. They also argued that Eaton exceeded his own authority when he determined in March that the Supreme Court’s ruling entitled “all importers of record’’ to refunds.
“For that reason, defendants intend to appeal the court’s universal injunction,” the lawyers wrote, adding that CBP would continue to move “as quickly as it can to process refunds in a phased approach” for businesses that filed some 485 pending trade court complaints to assert their rights to refunds.
In a terse reply Friday, Eaton said he needed to hear directly from Scott whether the government would return all of the money it collected between when Trump imposed what he called “reciprocal” tariffs on goods from most countries in April 2025 and when the Supreme Court struck them down in late February.
“This case involves $166 billion,” the judge wrote. “It is undisputed that the remedy for this unlawful collection is for the United States government to refund the unlawfully collected duties.”
Some national retail chains said they planned to use their tariff refunds to lower customer prices on some items. Walmart Chief Financial Officer John David Rainey told analysts last week that the company would implement price cuts even though the maximum refund it might be eligible for represented less than half of 1% of Walmart’s $483 billion in annual U.S. sales.
Some smaller companies told the Associated Press that the partial refunds they’ve received so far would go toward paying remaining or future tariffs, reducing debt or just keeping the lights on after more than a year of uncertainty and additional import costs.
Jay Foreman, chief executive of toy company Basic Fun, said he received about $450,000, or 7% of his total claim, over two consecutive days this month. He took the initial repayment as a positive sign but said that after having less than $10,000 refunded since then, the process seemed like a “total slow roll.”
“It’s time to release the funds back into the economy, especially given how much we and others need these funds to support our businesses and fund our operations,” Foreman said.
Anderson writes for the Associated Press.
WASHINGTON — Last June 16, armed immigration agents broke the locks to forcibly enter an Oxnard auto body shop. Juan Carlos Ramirez, a U.S. citizen, filmed as they arrested his father.
Then the agents pepper-sprayed Ramirez, slammed him onto the hoods of two vehicles, punched his face and kneed him in the side, according to a legal claim he later filed against the federal government.
Local attorney Vanessa Valdez denounced Ramirez’s arrest at an Oxnard City Council meeting the next day. The following month, Valdez found herself in a similar situation when agents raided the cannabis company Glass House Farms.
Despite identifying herself as a legal observer, she said, agents — or possibly National Guard — deployed tear gas and shot her six times with rubber bullets. She ran and then, unable to see, crawled on all fours to escape.
Vanessa Valdez, a Ventura-based attorney, has filed a claim against the federal government, alleging she was hit with tear gas and six rubber bullets during the Glass House Farms raid last July.
(Christina House / Los Angeles Times)
“They were just shooting aimlessly, it seemed like,” she said. “I thought maybe they had fractured a rib because that’s how painful it was. I couldn’t sleep face down for three weeks.”
Ramirez and Valdez are among the dozens of U.S. citizens and immigrants who are seeking financial compensation for damages they say they suffered during President Trump’s immigration dragnet. For Valdez, that includes the cost of hospital visits, lost wages as she recovered, anxiety medication and seeing a therapist.
After reviewing public accounts and legal documents and interviews with more than a dozen lawyers and immigrants, The Times found that claimants from across the country are seeking at least $260 million.
In a statement, Homeland Security spokesperson Lauren Bis wrote that ICE officers are held to the highest professional standard and receive regular training. Bis said that when agents are faced with danger, they use their training to protect themselves and the public.
“The pattern is NOT of law enforcement using force. It’s a pattern of violent agitators attacking our law enforcement,” she wrote.
Asked about Valdez, Bis said law enforcement deployed chemical irritants including pepper balls, but not rubber bullets, after agitators attempted to breach the perimeter at Glass House Farms. She said Ramirez refused officer’s commands and physically attacked them, so they pepper-sprayed him in self-defense.
Lawyers who are experts in tort claims said the bureaucratic process is lengthy and complex, and any damage award would likely be lower than what a claimant is seeking.
Still, seeking redress through the Federal Tort Claims Act is one of the few legal remedies available for those seeking financial compensation for deaths, physical injuries, emotional trauma, unlawful detention or property damage caused by federal employees.
The number of claims is expected to rise.
Federal agents, some wearing street clothes and some wearing uniforms and protective gear, form a defensive line against hundreds of protesters outside the Metropolitan Detention Center in Los Angeles on Jan. 30.
(Allen J. Schaben / Los Angeles Times)
In recent months, advocacy organizations have prepared practice advisories for attorneys interested in filing tort claims, and law groups across the country have begun holding training sessions on the process.
“There is no question in my mind that a lot of people — hundreds, thousands — have been harmed significantly and will be legally entitled to large damages payouts, which are going to come from the federal government,” said Jonathan Feinberg, a Philadelphia-based attorney.
Feinberg, who specializes in cases involving excessive use of force by police and abuses of detained immigrants, is president of the board of directors for the National Police Accountability Project, which focuses on law enforcement misconduct.
“We’re going to be talking about Minneapolis in 2030,” he added.
Before they can sue in federal court, individuals must first request a review by the agency that they say is responsible, such as Immigration and Customs Enforcement or Customs and Border Protection. The agency has six months to respond and deny the claim or offer a settlement.
If the agency doesn’t respond or denies a claim, the claimant can then file suit.
Unlike civil rights lawsuits, in which juries decide the verdict, in tort cases, judges make that call. Only the agencies are named as defendants, not individuals.
The Times reviewed the claims of nearly 80 people filed since the start of 2025. The vast majority remain in the review stage. Lawyers anticipate most will not be settled, unleashing a flood of lawsuits starting this summer.
Federal law since 1871 has established that people can sue state and local officials for violating their constitutional rights. But the law left out federal actors.
One hundred years later, the Supreme Court allowed for damages lawsuits against federal officials who violate a person’s civil rights, though decisions in recent years have substantially narrowed that ability.
Democrats in California are pursuing legislation that would make it easier for residents to seek financial damages for constitutional violations committed by federal agents. Similar laws were already enacted in Maryland, Illinois and Connecticut, though the Trump administration has sued to block the latter two.
But there is a different route — tort claims.
Tort cases can be difficult to win, in part because the government can claim a “discretionary function exception,” which shields the agency from liability when the situation involves a policy-driven judgment call.
“So that’s what a lot of plaintiff’s lawyers are really anxious about, that the Trump administration is going to say, ‘Well, we’ve got our own immigration policies. Of course a lot of people disagree with them, but the statute is designed to give us the right to make those policy judgments,’” said Benjamin Zipursky, a Fordham University law professor who studies torts.
“Now, if I were the plaintiff’s lawyer, I would say, ‘Yeah, but shooting somebody in cold blood because you’re just mad about their political views, and they’re not really threatening your life at all — that’s not a policy judgment,’” he said.
The law office of John Burris, an Oakland-based attorney who represented Rodney King after he was severely beaten by Los Angeles police officers in 1991, has taken on damages clients in Minnesota. He said he anticipates filing around 80 tort claims stemming from the immigration enforcement actions there.
A memorial for Renee Good at the location where she was fatally shot in Minneapolis.
(Eric Thayer / Los Angeles Times)
Burris said the experience has given him flashbacks to the period before King’s beating and the subsequent protests over police brutality, when officers felt they could act with impunity.
“There’s 1779798656 a more fundamental understanding that bad stuff does happen,” he said. “Everyday people are not as willing as they once were to just accept a police officer’s perspective.”
Public disapproval over immigration enforcement rose after federal immigration agents in Minneapolis shot and killed two 37-year-old U.S. citizens, Renee Good, a mother of three, and Alex Pretti, an ICU nurse, in separate incidents.
Other deaths took place before the Minnesota operation: 23-year-old Ruben Ray Martinez, who was killed by an ICE agent in Texas who fired repeatedly through the open window of his car; Keith Porter, 43, who was killed in Los Angeles by an off-duty ICE agent after shooting his gun into the air on New Year’s Eve; and Jaime Alanis Garcia, 57, who fell 30 feet from atop a greenhouse while fleeing agents at the Glass House Farms site in Camarillo.
Lawyers for the families of Good, Martinez and Garcia confirmed they are pursuing tort claims. Lawyers for the other families did not respond to requests for comment.
Additional highly publicized cases have also resulted in tort claims: Marimar Martinez, who was shot five times by a Border Patrol agent in Chicago; Mahmoud Khalil, the Columbia University student and Palestinian rights activist who spent 104 days detained after the administration labeled him a national security threat; Aliya Rahman, a disabled woman on her way to a doctor’s appointment in Minneapolis who blacked out at a detention facility after ICE agents detained her.
New claims appear to be filed weekly. Seventeen men, women and children who were detained in a military-style raid at a Chicago apartment complex filed claims this month seeking about $5 million each.
In many of the cases, Bis said, the claimants impeded or assaulted agents. Pretti’s death remains under investigation, she said.
Willy Wender Aceituno stands in the parking lot where he was arrested last November by ICE agents in Charlotte, N.C.
(Jesse Barber / For The Times)
Willy Wender Aceituno was already a plaintiff in a class-action lawsuit filed by the ACLU of North Carolina challenging the policy allowing warrantless immigration arrests after he was stopped twice in a span of minutes by immigration agents last November. In March, he also submitted a tort claim.
Aceituno is a Honduran-born U.S. citizen who voted for Trump. On the day he was arrested, a group of masked agents checked his identification and left. Aceituno then filmed as a second group surrounded his red truck.
“If you break it, you will pay for it,” he tells them in Spanish seconds before one agent smashes the window with a baton. “Why did you do that, sir?”
Aceituno suffered cuts when agents threw him to the ground, which was covered in shattered glass. They placed him in an SUV with other detainees and drove him around Charlotte, N.C., before releasing him, still bleeding, more than 2 miles from his vehicle.
The moment brought back Aceituno’s childhood memory of watching his father be arrested by the Honduran military and disappeared.
“I remember they broke down the door, entered, put him in handcuffs and threw him to the ground,” he said. “I thought, ‘It’s happening again.’ To see the other Hispanics in the car made it feel like this is racial persecution. This is about skin, not criminality.”
Bis, the Homeland Security spokesperson, said Aceituno acted erratically, escalated the situation and refused to comply with officers’ commands.
Lawyers said many people, especially immigrants, who have viable claims have chosen not to pursue them out of fear of being targeted for deportation. Some were deported before they could sue.
“Even now, our clients wake up some days thinking, ‘What am I doing suing the federal government?’” said Iván Espinoza-Madrigal, executive director of the Massachusetts-based Lawyers for Civil Rights. “You have to have a lot of courage to be able to stand up against an administration that has put a bull’s-eye on you and that has targeted you based on your identity.”
Others have turned to mutual aid or online fundraisers to pay for medical bills or to repair property damage. On the website GoFundMe, donation campaigns describe shattered car windows, broken limbs, head trauma and mounting bills.
Some damage can’t be fully recompensated, Espinoza-Madrigal added.
Members of the Haitian community hold signs in support for the extension of Temporary Protected Status during a rally last month in Miami.
(Carl Juste / Miami Herald / Getty Images)
One of the organization’s clients is Jose Pineda, a Salvadoran man with Temporary Protected Status. A year ago, Pineda was stopped by ICE officers on his way to work in East Boston as a landscaper. They wouldn’t accept his Social Security and work authorization cards as proof enough that he was not deportable, and detained him without explanation, according to his tort claim.
So Pineda spent nearly two days in a holding cell at the ICE Boston Field Office with around 50 other people. He couldn’t sit or sleep and received minimal water and food.
Bis said agents “briefly questioned” Pineda because he matched the description of the subject of an operation, and that he was released after being identified.
When he was released, the claim alleges, his documents were returned but $600 in cash that he was saving to pay rent was not. The incident left him with frequent headaches, anxiety and memory loss, and exacerbated his gastritis. His absence from work resulted in a demotion from lead foreman to an assistant role.
“Whenever I drive, if someone stays behind me for three, four or five minutes, I start to imagine that it’s them again,” he said in an interview.
Pineda’s arrest also caused recurring nightmares that leave him shouting and thrashing around in bed. Out of fear that he could inadvertently harm his wife, they now sleep in separate beds.

1 of 2 | Lee Ae-rirana, a birth mother whose daughter was adopted to the United States, cries in front of a photo of her late daughter, Park Mi-ae, outside the Truth and Reconciliation Commission in Seoul on Friday. Photo by Asia Today
May 8 (Asia Today) — Five South Korean birth mothers who lost children to overseas adoption filed petitions Friday seeking a truth investigation into alleged abuses involving foreign adoptions.
The women submitted the petitions to South Korea’s Truth and Reconciliation Commission, saying their children were taken through kidnapping, false documents, deception by adoption agencies or without parental consent.
TRACE, a coalition advocating for truth-finding on overseas adoptions and child rights, held a news conference outside the commission’s office in central Seoul and disclosed several cases.
“The methods differed, but the result was the same,” the group said. “The mothers lost their children, and the children had to live their lives believing they had been abandoned.”
One case involved Lee Ae-rirana, 53, who said she was told after giving birth in 1993 that her baby daughter was seriously ill. A week later, she was told the child had died.
More than a decade later, Lee learned that her daughter, Park Mi-ae, had been adopted to Minnesota. Park later left her adoptive family after conflict, experienced homelessness and died in 2023, according to the group.
Another mother, Lee Gui-im, said she temporarily placed her two sons in a childcare facility in 1983 because of financial hardship after being told she could take them back when they reached middle school.
When she returned three months later with winter clothes for the boys, she learned they had already been sent to France for adoption.
Lee said an adoption consent form kept by the facility contained a signature in the birth mother’s name that she had never written. She said she could not read or write at the time.
Other cases included children who were reported missing but later sent overseas by orphanages and children allegedly taken through kidnapping or abduction before being placed for adoption.
Han Tae-soon, who was reunited with her daughter through DNA testing 44 years after the child disappeared at age 5 and was adopted to the United States nine months later, attended the event to support other mothers.
Han is pursuing legal action against the government and adoption agencies, accusing them of turning missing children into orphans for overseas adoption.
Park Min-seo, an attorney at Wongok Law Office, said no one involved in the adoption process made a proper attempt to verify the children’s identities.
TRACE called for investigations into false records and illegal adoptions by agencies and childcare facilities, a full review of overseas adoptions conducted without parental consent, a dedicated investigative body, a formal government apology and a support system to reunite birth parents and adoptees.
— Reported by Asia Today; translated by UPI
© Asia Today. Unauthorized reproduction or redistribution prohibited.
Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260508010001911
“Implementing the U.S. blockade is not without risk, and itself is hostilities. Given the fragility of the ceasefire and President Trump’s own messaging about resuming strikes on Iran, there is a risk that they may need to use force, and they have been and remain in hostilities,” she continued.
Shipping companies said several things had to be clarified, including the presence of mines, Iranian conditions, practical implementations.
Published On 17 Apr 202617 Apr 2026
Shipping companies have cautiously welcomed Iran’s announcement that the Strait of Hormuz is open but said they would require clarifications, including about the risk of mines, before vessels move through the entry point to the Gulf.
Iran’s Foreign Minister Abbas Araghchi said on Friday that the Strait of Hormuz was open to all commercial vessels during a 10-day Lebanon ceasefire accord, prompting a fall in oil and other commodity prices while stock markets rose.
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All commercial ships, including United States vessels, can sail through the strait, although their plans need to be coordinated with Iran’s Islamic Revolutionary Guard Corps, a senior Iranian official told the Reuters news agency.
Transit would be restricted to lanes which Iran deemed safe, adding that military vessels were still prohibited, the official said.
“We are currently verifying the recent announcement related to the reopening of the Strait of Hormuz, in terms of its compliance with freedom of navigation for all merchant vessels and secure passage,” said Arsenio Dominguez, secretary-general of the United Nations shipping agency, the International Maritime Organization.
The Norwegian Shipowners’ Association said several things had to be clarified before any ships could transit the strait, including the presence of mines, Iranian conditions and practical implementation.
“If this represents a step towards an opening, it is a welcome development,” said Knut Arild Hareide, CEO of the association which represents 130 companies with some 1,500 vessels.
Shipping association BIMCO cautioned members on returning to the strait.
“The status of mine threats… is unclear and BIMCO believes shipping companies should consider avoiding the area,” said Jakob Larsen, BIMCO’s chief safety and security officer.
The threat posed by mines in parts of the strait is not fully understood, and avoidance of the area by ships should be considered, a US Navy advisory on Friday, seen by Reuters, also said.
German shipping group Hapag-Lloyd on Friday said it was working for its ships to sail through the strait “as soon as possible”, but added that several questions remained.
“Our crisis committee is in session and will try to resolve all open items with the relevant parties within the next 24-36 hours,” it added.
Its Danish peer Maersk said it was closely monitoring the security situation and would act based on its risk assessment.
France’s CMA CGM and Norwegian oil tanker group Frontline declined to comment.
A recent route imposed by Tehran through its territorial waters near Larak Island would present navigational challenges even if vessels were not required to pay a toll, and would raise questions regarding compliance and insurance, said Matt Wright, lead freight analyst at data intelligence firm Kpler.
US President Donald Trump on Friday said Iran had agreed to never close the strait again, and that it was removing sea mines from it.
One of the world’s most important maritime chokepoints, disruption in the strait has forced shipping companies to suspend sailings, reroute cargo and rely on costly workarounds to keep goods moving in and out of the Gulf.