Moody’s cuts U.S. credit rating

[Anchor]

International credit rating agency Moody's has downgraded the United States' national credit rating.

This is due to the astronomical increase in government debt over the past decade and the resulting interest payments.

Despite the turmoil in the financial markets, Trump's tariff blitz continues.

Kim Kyung-soo reports.

[Report]

Moody's has lowered the U.S. national credit rating from the highest level, citing ongoing political uncertainty and increased fiscal pressure.

They pointed out that government debt and its consequent higher interest have significantly increased over the past decade.

This is the first time Moody's has downgraded the U.S. credit rating.

However, Moody's has revised the outlook for the U.S. credit rating from 'negative' back in November to 'stable,' assessing that the U.S. economy still has resilience.

The White House has blamed the entire situation on the previous Biden administration.

They even criticized the rating agency saying, "Moody's remained silent during the past four years of fiscal disaster."

While the credit downgrade is clearly a blow to the U.S. amid the ongoing tariff war, there are expectations that President Trump will accelerate efforts to reduce national debt as a result.

President Trump has announced that he will set new tariff rates and notify them soon, as negotiations with various countries have been sluggish.

While 150 countries want to negotiate, he mentioned that it is not possible to negotiate with each one before the tariff suspension measures end.

[Donald Trump/President of the United States: "At a certain point over the next 2-3 weeks, I think
Scott (the Secretary of the Treasury) and Howard (the Secretary of Commerce) will be sending letters out..."]

Although Trump did not specify which countries would receive the letters, it is unwelcome news for countries currently in negotiations, such as South Korea, Japan, and the European Union.

This is Kim Kyung-soo from KBS News in Washington.