Choi Acting President "Early Response to Trump Administration Policies is Important"... Reviewing US Trade Issues During Lunar New Year Holiday

by Jo Youjin

Published 31 Jan.2025 11:18(KST)

Updated 31 Jan.2025 11:19(KST)

Holding a Meeting on External Economic Issues

Yonhap News

Choi Sang-mok, Acting President and Deputy Prime Minister as well as Minister of Strategy and Finance, on the 31st urged, "Since the initial response to the Trump administration's policies is crucial, please continue to quickly grasp the trends and prepare countermeasures."

Acting President Choi chaired a meeting on external economic issues at the Government Complex Seoul in the morning and reviewed trade, diplomatic, and security trends and response directions during the holiday period.

Attending the meeting were Cho Tae-yeol, Minister of Foreign Affairs, Ahn Duk-geun, Minister of Trade, Industry and Energy, Bang Ki-seon, Director of the Office for Government Policy Coordination, Sung Tae-yoon, Chief of Policy Office at the Presidential Office, and Kim Tae-hyo, First Deputy Director of the National Security Office.

The attendees discussed U.S. President Donald Trump's speech at the Republican Federal House Conference, statements made by Howard Lutnick, nominee for U.S. Secretary of Commerce, and the tariff imposition plans on Canada and Mexico.

Earlier on the 30th (local time), the White House reaffirmed its plan to impose additional tariffs of 25% on Mexico and Canada and 10% on China, raising concerns about the realization of Trump's tariff imposition.

Two days earlier, President Trump named pharmaceuticals, semiconductors, and steel as industries targeted for tariff imposition at the Republican Federal House Conference. At that event, he also cited the first-term administration's safeguard (emergency import restrictions) that imposed high tariffs on Korean-made washing machines from Samsung and LG as a successful case.