Trump agrees to pause tariffs on Mexico, Canada for one month

Welcome to Within The Frame where we bring the most pressing issues across the globe into focus, I'm Kim Mok-yeon.

As the U.S. trade landscape continues to shift under President Trump's policies, the latest developments are raising critical questions about the administration's approach to international relations and the global economy.

A decision to delay a 25 percent tariff on Canada and Mexico has drawn attention, following last-minute agreements with both countries.

However, Trump's 10 percent additional tariff slaps on China are set to take effect as scheduled, prompting retaliatory measures, fueling concerns.

South Korea, closely monitoring these developments, faces uncertainty regarding the broader effects on its export-driven economy, especially as the U.S. considers further tariff actions against the European Union.

For a closer look on this, we invite Song Soo-young, Professor of Economics at Chung-Ang University. Welcome, Professor.

Also joining us will be our go-to Voice of America correspondent Jessica Stone. Good to see you again.

1. (Jessica) So Jessica, we're aware that President Trump postponed the imposition of 25 percent tariffs on Canada and Mexico for one month.

This comes as agreements were made with the leaders of both countries a day before the tariffs were set to take effect.

Could you remind us, what the content of the agreement was?

2. (Song) Since President Trump raised the issue of drugs as the primary reason for the tariffs, can it be seen that the tariffs were not a goal in themselves, but rather a means of pressure?

3. (Song) There were ongoing concerns within the U.S. about the significant impact of the tariffs on the U.S. economy, such as price inflation. Professor, Do you think these concerns played a role in the decision to delay the imposition?

4. (Jessica) Then Jessica, What has been the public reaction in the U.S. to the decision to delay the imposition of tariffs on Canada and Mexico?

5. (Song) So the U.S. will negotiate with Canada and Mexico over whether to impose the 25 percent tariffs for one month. Since President Trump has left the possibility of pushing through with the tariffs depending on the outcome of the negotiations, what could be the key variables and issues in future negotiations?

6. (Jessica) Meanwhile, the additional 10 percent tariff on China took effect as scheduled. China responded with retaliatory tariffs and options like filing a WTO complaint. Jessica, What is the White House's stance on this?

(After China announced its countermeasures, President Trump, who had initially said he would call within 24 hours, later stated, "I won't rush to call." What is the reason behind this change in President Trump's position?)

9. (Jessica) South Korea is also closely monitoring the Trump administration's policy trends. Jessica, Given the "weaponization of tariffs" without any exceptions for allied countries, is there any potential for this policy to extend to South Korea's export-driven products, like semiconductors?

10. (Song) The European Union is being identified as the next target for tariffs by Trump. If the U.S.-China trade war expands into a global trade war, South Korean exports could inevitably be affected. Professor, How should South Korea prepare for this?