[Interview] US Korea Expert: "Trump Would Be Angry If He Knew Platform Act Regulates Only US, Excluding China... Korea Should Remove Trade Barriers Before Negotiations"

Tammy Overby, Former AMCHAM Head, Interview
South Korea Must Show Willingness to Remove Trade Barriers to Trump
Tariff Exceptions Expected in the Future... Hyundai Motor's Investment Viewed Positively
Trump's Second Term Could Offer Opportunities for Shipbuilding and Defense Cooperation

"South Korea must demonstrate to the Donald Trump administration a sincere commitment to abolishing long-standing trade barriers such as lifting restrictions on U.S. beef imports, fully allowing Google Maps functions, and eliminating various window guidance systems."

Tammy Overby, a senior advisor at the Albright Stonebridge Group and one of the leading Korea experts in the U.S. business community, gave this advice during a special correspondent interview held on the 1st (local time) at the Korea Society in Manhattan, New York, one day before President Trump’s announcement on 'reciprocal tariffs.' Overby served as the representative of the American Chamber of Commerce in Korea (AMCHAM) from 1995 to 2009, contributing to strengthening Korea-U.S. economic cooperation.

Tammy Overby Albright, Senior Advisor at Stonebridge Group, is speaking during a correspondent interview held on the 1st (local time) at the Korea Society in Manhattan, New York. New York=Photo by Kwon Haeyoung

He emphasized that "South Korea is the 8th largest U.S. trade deficit country and belongs to the so-called 'Dirty 15,' and will be included among countries such as Mexico, Canada, China, Japan, and Vietnam subject to reciprocal tariffs announced on the 2nd," stressing the need for active efforts to address the Trump administration’s concerns about trade imbalances.

Overby pointed out the Platform Act, listed as one of South Korea’s trade barriers in the annual 'Country Trade Assessment Report' released the previous day by the U.S. Trade Representative (USTR), saying, "Currently, there are 19 bills related to the Platform Act pending in the Korean National Assembly." He added, "President Trump believes everyone treats the U.S. unfairly and that we are the victims. If he finds out that the Platform Act regulates all U.S. companies along with Korea’s Naver and Kakao, but does not regulate China’s TikTok, AliExpress, and Tencent, he will go crazy or become very angry."

The USTR report stated that South Korea’s Platform Act regulates many U.S. tech companies and two Korean companies, while not regulating major Korean companies and companies from other countries. It also listed numerous trade barriers such as the ban on imports of U.S. beef over 30 months old, restrictions on the export of location-based data, and environmental regulations on imported cars. Overby also pointed out Korea’s unique 'window guidance' as one of the trade barriers.

He conveyed the atmosphere in Washington, saying, "Companies are now raising issues with the Department of Commerce, USTR, and members of Congress," and stated, "The Korean government must do everything it can to show goodwill." He continued, "Hyundai Motor’s $21 billion investment in the U.S. and Korean Air’s purchase of Boeing aircraft are encouraging, but more measures are needed," emphasizing repeatedly that South Korea should swiftly remove various non-tariff barriers, eliminate obstacles ahead of negotiations with the U.S., and show as much 'good faith' as possible.

Overby predicted that President Trump, who is expanding the 'tariff front' comprehensively from steel and aluminum to automobiles and now reciprocal tariffs, will reduce tariff exceptions in the future. He especially saw South Korea’s recent surge in corporate investments in the U.S. as a foundation to obtain exceptions in future trade negotiations with the U.S.

Referring to Hyundai Motor’s U.S. investment plan announced at the White House last month, Overby said, "President Trump should reward companies that create high value-added, good jobs in the U.S. instead of punishing them," adding, "There are no exceptions now, but they can arise at any time."

He also advised that Trump’s second term could be an opportunity to solidify industrial cooperation with the U.S. in sectors such as shipbuilding and defense industries.

Overby said, "In the context of intensifying U.S.-China naval competition, China’s shipbuilding capabilities are very threatening to the U.S.," and added, "South Korea has world-class companies like Hanwha Ocean and Hyundai Heavy Industries that can play a role." He emphasized, "South Korea is a strong U.S. security ally and has maintained close industrial cooperation for decades, putting it in a much more advantageous position than most other countries," and said, "It can further strengthen its cooperative relationship with the Trump administration."

Lila Nora Kiss, Senior Policy Analyst at the Information Technology and Innovation Foundation (ITIF), is speaking during a correspondent interview held on the 1st (local time) at the Korea Society in Manhattan, New York. New York=Photo by Kwon Haeyoung

Meanwhile, Lira Nora Keys, a senior policy analyst at the Information Technology and Innovation Foundation (ITIF), also pointed out in the special correspondent interview conducted with Overby that regarding Korea’s Platform Act, "The exclusion of Chinese platforms from regulation further reinforces the perception that these bills mainly target U.S. companies," and noted, "Post-regulation is already working perfectly well in many regions."