[2020 National Audit] Lee Ju-yeol: "Whether Trump or Biden, Protectionism and US-China Conflicts Will Continue"

October 16th Planning and Finance Committee 'Bank of Korea National Audit'

[Image source=Yonhap News]

[Asia Economy Reporter Jang Sehee] Lee Ju-yeol, Governor of the Bank of Korea, commented on the upcoming U.S. presidential election scheduled for the 3rd of next month, stating, "Whether it is Trump or Biden, protectionism, nationalism, and tensions in U.S.-China relations will continue."

Governor Lee made these remarks on the 16th during the National Assembly's Planning and Finance Committee audit.

When Kim Doo-kwan, a member of the Democratic Party of Korea, asked about the impact of the U.S. election results on the Korean economy, Governor Lee responded, "The Trump administration imposes tariffs directly through nationalism, whereas candidate Biden is expected to pursue this within the framework of the World Trade Organization." He added, "I believe that protectionism, nationalism, and tensions in U.S.-China relations will not change significantly."

Governor Lee emphasized, "Besides the U.S.-China conflict, we have a basic contingency plan to respond to changes in external conditions."