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Title IFS Roundtable: "Trump’s Tariff War – How Should We Respond?" Hit 152
Cluster
# Global Korea Cluster

Institute for Future Strategy Roundtable: “Trump’s Tariff War—How Should Korea Respond?”

Theme: Analysis of Trump’s Tariff Policy and Exploring Korea’s Response Strategies
Date: Thursday, April 17, 2025, 10:00–12:00
Moderator: Sohn In-Joo (Deputy Director, Institute for Future Strategy, Seoul National University)
Speakers: Kim Yong-Beom (Former Vice Minister of Economy and Finance), Park Ji-Young (Professor, Department of Economics, Seoul National University), Park Jong-Hee (Professor, Department of Political Science and International Relations, Seoul National University), Jung Chul (President, Korea Economic Research Institute), Yeom Yong-Seob (Former Head, SK Research Institute for Management & Economics), Kim Byung-Yeon (Distinguished Professor, Department of Economics, Seoul National University)

Key Points from the Video

  • The global economic order is facing serious fractures. The U.S., as the world’s key reserve currency issuer, is under heavy pressure from trade and fiscal deficits, fueling the rise of protectionism [07:13].

  • Trump’s tariff policy undermines the foundations of the WTO system, effectively amounting to a U.S. withdrawal from the WTO. As this is a structural issue, it is likely to persist in the long term [16:26].

  • If Trump’s tariffs are fully implemented, Korea’s exports to the U.S. are expected to suffer losses of around 20.4 billion USD, with the heaviest impacts on automobiles, machinery, and electrical equipment industries [27:37].

  • Korea should actively pursue accession to the CPTPP to stabilize global supply chains, while in the longer term strengthening trilateral economic and monetary cooperation among Korea, China, and Japan to build a regional joint response framework [23:32].

  • Companies must reassess their export-oriented strategies and focus on diversifying production bases while enhancing software competitiveness through the adoption of new technologies such as artificial intelligence [49:37].

Keywords
#Trump #TariffWar #USChinaRelations #Protectionism #WTO #ExportStrategy #InstituteForFutureStrategy

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