South Korea and the United States have been discussing a shipbuilding tie-up that could include investments to modernize U.S. shipyards and more help to repair the U.S. naval fleet as Seoul seeks better tariff terms, government and industry sources said.

Seoul

South Korean officials are under increasing pressure to secure a favorable tariff deal with the United States, particularly after Japan's recent trade agreement with the US. One proposal under consideration involves a shipbuilding partnership, where South Korea would invest in modernizing US shipyards and assist with the repair of US Navy vessels. This initiative aligns with US efforts to revamp its shipbuilding industry and counter China's dominance in the sector.

South Korean shipbuilders already have ties to the US, including partnerships and investments in American shipyards. However, challenges remain due to US regulations protecting domestic shipbuilding and difficulties in sourcing parts and talent locally. Experts suggest that South Korea could navigate these obstacles by building ship sections for assembly in the US or designating special shipbuilding districts.

South Korea aims to use Trump's focus on shipbuilding in tariff talks

Pressure is growing for South Korean officials to reach a deal on tariffs after Japan's success in striking a trade agreement with the U.S. this week. Now a shipbuilding partnership is one idea being discussed, according to government and industry sources, in exchange for better terms. A source says the tie-up would see Seoul invest in modernizing U.S. shipyards and give more help to repair U.S. Navy vessels. South Korean trade officials, who declined to be named, says the country's proposal of a, quote, Korea-U.S. manufacturing renaissance partnership in areas such as shipbuilding had drawn strong U.S. interests. Donald Trump has made it a priority to revamp the aging U.S. shipbuilding industry in order to keep up with China, the market leader. His interest in Korean shipbuilding dates back to a 1998 helicopter trip to visit Goche Shipyard. Lim Moon-kyu, a retired senior executive at the former Daewoo Shipbuilding Company, remembers accompanying the VIP guest, who stood on top of a high crane to view the yard on a southern island. I think he must have felt that the size of the ship and shipyard were humongous. Clearly he was impressed, saying wonderful, wonderful, since he didn't know about shipbuilding. Lim thinks the occasion left a lasting impression on Trump that primed him to work with Korean shipbuilders to counter China. What carrots can we give to the United States except shipbuilding? Nothing but shipbuilding would be immediately possible, helpful to South Korea and a huge help to the U.S. The repair of U.S. Navy ships already happens in South Korea, at Hanwha Ocean's Goche Shipyard, which has the world's largest dock. Hanwha has also recently increased its stake in an Australian shipbuilder which owns a shipyard in Alabama building U.S. Navy vessels. And another South Korean shipbuilder, HD Hyundai, formed a partnership this year with U.S. defense-focused shipbuilder Huntington Ingalls. A researcher told Reuters the most realistic option for South Korea is to make a deal to fix a certain number of U.S. Navy vessels annually or build parts for new ships. But obstacles remain to expanding the relationship. Woo Jung-hoon, a marine expert at Seoul National University, says U.S. yards struggle to obtain parts and find local talent, while there's also a raft of U.S. regulations that protect domestic shipbuilding. Ultimately, I think it is necessary for the South Korean government to control Hanwha and HD Hyundai well to establish a strategy and become a control tower that can make suggestions to the United States. Woo said South Korea could skirt U.S. regulations by building sections of ships to be delivered to U.S. yards for assembly, or they could designate a South Korean shipyard as a special district where it's permitted to make U.S. naval vessels.

EU Commission President Ursula von der Leyen has said she will meet US President Donald Trump on Sunday in Scotland to "discuss transatlantic trade relations."

Glasgow

Global Tariffs

Ursula von der Leyen to meet Donald Trump to discuss trade

President Trump signed an executive order Thursday aimed at dramatically changing how the U.S. approaches homelessness.

Washington

Trump signs executive order changing U.S. approach to homelessness

Former NFL Wide Receiver Donté Stallworth tells CNN’s Jake Tapper that the reselling of Super Bowl tickets by players and employees has long been an “open secret.” Stallworth believes that imposing fines and threatening player suspensions will significantly curb the practice of selling tickets for profit.

New York

NFL issues fines for selling Super Bowl tickets above face value

Typhoon Co-May has left a trail of destruction across the Philippines, making landfall in the country's northwestern region. Torrential rains and strong winds have battered towns and cities, damaging homes, roads, and farmland. At least 25 people have been reported dead.

Pangasinan

Philippines hit hard by Typhoon Co-May, dozens killed

Israeli Prime Minister Benjamin Netanyahu and U.S. President Donald Trump appeared on Friday to abandon Gaza ceasefire negotiations with Palestinian militant group Hamas, a day after withdrawing their delegations from talks.

Jerusalem

Middle East Conflict

Netanyahu, Trump appear to abandon Gaza ceasefire negotiations

U.S. President Donald Trump is spending five days in Scotland visiting his luxury golf resorts. While the White House touts the economic impact, some locals say the developments have scarred the land and stirred controversy.

Edinburgh

Trump visits Scotland to tour golf courses amid protests

The U.S. Department of Justice is set to meet with Ghislaine Maxwell, Jeffrey Epstein's convicted accomplice, amid mounting political pressure on President Donald Trump over his administration's handling of the Epstein case.

Ghislaine Maxwell to meet with U.S. Justice Dept. amid Epstein probe

Thailand and Cambodia exchanged heavy artillery fire for a second day on Friday (July 25) as their worst fighting in over a decade intensified and spread to new areas, despite international calls for a ceasefire.

Bangkok

Thailand, Cambodia exchange heavy artillery

France intends to recognise a Palestinian state in September at the UN General Assembly, President Emmanuel Macron said in hopes of bringing peace to the region, but the plan drew angry rebukes from Israel and the United States.

Macron says France will recognize Palestine as a state

Ukrainian President Volodymyr Zelensky has approved a draft bill to restore the independence of anti-corruption agencies, following nationwide protests and EU concerns over recent reforms that threatened their autonomy.

Ukraine Invasion

Zelensky approves anti-corruption bill after protests

Chinese and European Union leaders have met in Beijing for their first in-person summit since 2023, addressing a range of contentious issues amidst growing trade tensions. The talks, led by Chinese President Xi Jinping and EU officials Ursula von der Leyen and Antonio Costa, highlighted the complex nature of China-EU relations.

Beijing

China-EU summit ends in climate deal, talks strain over Ukraine

The United Kingdom and India have signed a trade agreement that will reduce tariffs on goods from textiles to whisky, cars and spices and allow more market access for businesses. British PM Keir Starmer hailed the agreement as a “landmark moment” for both countries.

London

UK, India sign free trade agreement during Modi visit

President Trump and Federal Reserve Chair Jerome Powell had a disagreement almost immediately as the two men set foot in the Fed's headquarters in Washington to survey an extensive renovation project on two of the reserve's buildings. Nancy Cordes has more.

Trump, Powell clash during tour of Federal Reserve renovations

Hulk Hogan, the legendary professional wrestler whose real name was Terry Bollea, died on Thursday at the age of 71, according to World Wrestling Entertainment.

Clearwater

Wrestling legend Hulk Hogan dead at the age of 71, WWE says

At least 12 were killed as a Thai-Cambodian border dispute escalated into deadly clashes on Thursday (July 24).

Surin

Thailand bombs Cambodian targets as border clash escalates

According to preliminary data, 43 passengers, including five children, and six crew members were on board.

Tynda

Passenger plane crashes in Russia, killing all 49 people on board

Pro wrestling legend Hulk Hogan has died, World Wrestling Entertainment said in a statement on social media. He was 71. CBS News' Shanelle Kaul has more.

Hulk Hogan dies at 71, WWE says

The Wall Street Journal reports that former Attorney General Pam Bondi told President Trump his name appeared in the Epstein files. The White House denies wrongdoing.

Report: Trump was briefed on mentions in Epstein files

Columbia University will pay $200 million to resolve federal claims it failed to stop harassment of Jewish students during campus protests. The Trump administration had suspended the school's access to $400 million in funding.

Columbia settles for $200 million over antisemitism claims

Israel issued a statement indicating that Prime Minister Benjamin Netanyahu has asked the Gaza negotiating team to return to Israel for ceasefire talks. CBS News' Ramy Inocencio reports.

Israel brings back Gaza negotiating team for ceasefire 'consultations'

Also in the settlement is an agreement to ask prospective international students “questions designed to elicit their reasons for wishing to study in the United States,” and establishes processes to make sure all students are committed to “civil discourse.”

Columbia University to pay more than $220M in deal with Trump

There are several developments in the cases involving Kilmar Abrego Garcia, the migrant in ICE custody whom the Trump administration wrongly deported. CBS News' Katrina Kaufman reports.

Nashville

Kilmar Abrego Garcia to remain detained following new court orders

Dr. Salvador Plasencia admitted to distributing ketamine to actor Matthew Perry before his 2023 overdose. He is the fourth person to plead guilty in the case and faces up to 40 years in prison.

Los Angeles

Doctor pleads guilty in Matthew Perry death case

While both sides acknowledged progress on humanitarian issues, talks on a full ceasefire remain stalled. Turkish Foreign Minister Hakan Fidan called for "result-oriented negotiations" to end the devastating war.

Istanbul

Russia and Ukraine conclude third round of peace talks in Istanbul

A passenger plane has crashed in southeastern Russia with up to 49 people onboard. Emergency services say the An-24 aircraft took off from the city of Khabarovsk and was heading to the town of Tynda. Wreckage was found on a mountainside around 15 kilometres from the flight's intended destination.

Russian passenger plane with 49 on board crashes

Ukraine's President Volodymyr Zelenskiy vowed to retain the independence of anti-corruption agencies, bowing to pressure from the first wartime street protests and rare rebukes from European allies.

Kyiv

Zelenskiy to protect anti-corruption agencies, bows to protests

U.S. President Donald Trump's name is among the many appearing in the Epstein files, according to the Wall Street Journal, and he was told as much earlier this year by the U.S. Justice Department.

Trump calls reports he knew his name is in Epstein files ‘fake news’

Dr. Salvador Plasencia, the doctor accused of supplying Matthew Perry with ketamine in the month leading up to his death, has pleaded guilty to four counts  of distribution of ketamine. Plasencia is the fourth of the five people charged in connection with Perry's death to plead guilty.

California

Doctor accused of supplying ketamine to Matthew Perry pleads guilty

Russia and Ukraine have exchanged prisoners following the latest round of talks in Istanbul. The swap, involving dozens of soldiers — some severely wounded and held since the war’s start in 2022 — took place on Wednesday night. While the prisoner exchange marks a rare point of agreement, both delegations remain divided on ceasefire terms.

Ukraine-Russia talks: Delegations remain divided on ceasefire terms

After reviewing the Epstein files, Attorney General Pam Bondi told President Trump his name appears alongside many others, according to a new report in the Wall Street Journal. CNN’s Paula Reid details what we know.

Breakdown