TRUMP SUGGESTS 25% TARIFF ON CAR AND CHIP IMPORTS

Welcome to yet another edition of Press Perspective.

It's Wednesday February 19th here in Seoul.

I'm Min Sunhee.

Addressing members of the media in Florida on Tuesday U.S. President Donald Trump floated the idea of a 25-percent tariff on all foreign-made cars and chips entering the American market.

For more on his remarks and their ripple effects I have Lee Ji-hoon with Reuters here in the studio.

Ji-hoon welcome back.

I also have Professor Lee Jaemin of International Trade LAW at Seoul National University live on the line.

Professor Lee it's a pleasure.

1) Ji-hoon, let's delve into Trump's latest remarks on trade in chronological order.

Now late last week, he put up on his social media platform a lengthy post in support of his reciprocal tariff proposal and in defiance of the so-called value-added taxes.

Let's start with that.

2) And Professor Lee, before we dig deeper, what exactly are value-added taxes, and how do you respond to Trump's intentions to consider them tariffs?

3) Simply speaking, Ji-hoon, which countries look to be greatly affected by Trump's reciprocal tariffs?

And do tell us a bit about import tariff gaps between U.S. and its Asian trading partners including South Korea.

4) Professor Lee, does South Korea's Free Trade Agreement with the U.S. shield it from Trump tariffs?

5) Ji-hoon, aside from the 25% tariff on steel and aluminium imports into the American market, Trump has pledged tariffs on cars and chips that are the main drivers of South Korea's exports.

First then, with regard to cars, what impact does Trump tariffs look to have on South Korea's auto exports?

6) And Professor Lee, what fate does South Korea's semiconductor exports look to face in the wake of Trump tariffs?

7) Ji-hoon, following news of the Trump administration's reciprocal tariff plan, acting President Choi Sang-mok called for a review of non-tariff barriers.

Now you covered this call.

Do share your coverage with us including the relevance of this move by Choi.

8) Professor Lee, pundits believe one-on-one negotiations with the Trump administration will allow for some exemption from tariffs.

Do you share this belief, and if so, how can Korea better navigate such talks?

9) Meanwhile Ji-hoon, based on your coverage of market analysts, what appears to be the overall outlook for the Korean economy this year?