TRUMP TARIFFS ON CANADA, MEXICO DELAYED

Hello and welcome to Press Perspective for this Tuesday February 4th here in Seoul.

I'm Min Sunhee.

Today we address the first set of tariffs announced by the Trump administration and their implications for other U.S. trade partners including South Korea.

For more I have Lee Ji-hoon a correspondent for Reuters here in the studio.

Ji-hoon welcome back.

I also have Professor Yang Jun-sok at the Catholic University of Korea joining this talk virtually.

Professor Yang it's good to have you with us.

1-1) Ji-hoon, let's begin with details about the decision to put on hold for 30 days the 25 percent U.S. tariffs on Canada and Mexico.

Do walk us through the events that led to this dramatic pause.

1-2) Ji-hoon, what do we know about the additional 10 percent tariff on China?

Is it set to go into effect on this Tuesday?

2) Professor Yang, what look to be the broader implications of such trade confrontations between the U.S. and its trade partners on the global economy?

3) Ji-hoon, pundits have voiced much concern about a potential surge in inflation in the U.S. amid Trump tariffs.

Do tell us more.

4) Meanwhile Ji-hoon, for the first time in 16 months, Korea noted a fall in exports in January.

How are market observers explaining this fall?

5) Professor Yang, the uncertain fates of the former Biden administration's Inflation Reduction Act as well as the CHIPS and Science Act under the current Trump administration are causing much concern within Corporate Korea.

What look to be the broader repercussions of a retreat from these acts by President Trump on Korean companies?

6) Ji-hoon, staying with local economic news.

I believe the Korean stock market over the past week has been responding to news of remarkable advances in China's AI technology.

What's the latest on the local bourse?

7) Professor Yang, on the corporate front.

What are the implications of Chinese AI advances for Korean chipmakers?

8) Ji-hoon, moving forward.

Korea's economy expanded 2 percent last year following a lackluster fourth quarter growth.

How do you explain this latest finding?

9) Professor Yang, come Friday, that is February 7th, Mr. Trump will play host to his Japanese counterpart Shigeru Ishiba.

What do you expect on their agenda?

All right.