Seoul: Acting President Choi Sang-mok announced plans on Tuesday to arrange a phone conversation with newly inaugurated U.S. President Donald Trump in the near future. This comes as Trump assumes office as the 47th president of the United States, with a strong focus on prioritizing American interests, including potential tariffs on foreign countries, a move that raises concerns about its effects on South Korea's export-reliant economy.
According to Yonhap News Agency, Choi emphasized the importance of initiating high-level communication between the nations' foreign and industry ministers. "We will work to arrange a call with President Trump soon," Choi stated during a meeting with government officials, addressing economic issues. Despite not imposing tariffs on his first day, Trump reiterated his commitment to revamping trade policies to benefit Americans during his inauguration speech.
Choi cautioned that potential policy changes under Trump's administration could significantly impact South Korea's economy. In response, preparations are underway to address these possible shifts. "A working-level delegation has already been dispatched to Washington, D.C., to assess the background and specific details of upcoming measures," Choi added.
Later, Choi highlighted the potential repercussions of U.S. trade policy adjustments on South Korean industries, urging thorough preparations. During a Cabinet meeting, he stated, "The government will look squarely at the difficulties experienced by our citizens and businesses, and mobilize all available resources to respond to changes in the global trade environment and support the recovery of livelihoods."