Oh Se-hoon: "Trump's 'Reciprocal Tariffs' Must Be Overcome Through a Package Deal"

“Bold Investments in Areas Needed by the U.S.”

Seoul Mayor Oh Se-hoon claimed that "a package deal is still possible with Donald Trump" in response to the United States' decision to impose a 25% reciprocal tariff on Korean products.

On the 3rd, Mayor Oh wrote on Facebook, "The key is to propose bold investments and cooperation in areas the U.S. needs, such as liquefied natural gas (LNG), shipbuilding, nuclear power plants, and advanced batteries," adding, "This is a strategy to ease Trump's tariff offensive and establish a new framework for economic cooperation that promotes mutual benefits between Korea and the U.S."

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He also stated that the Seoul city government will seek measures to overcome the crisis. Mayor Oh said, "Our goal remains to create a fair trade environment and protect Korea's industries and jobs," and added, "Seoul will thoroughly analyze this situation and work closely with the government to explore multifaceted measures to protect the people, citizens, and the Korean economy."

Mayor Oh viewed that the U.S. reciprocal tariff imposition could broadly damage the Korean economy. He said, "If key industries such as automobiles, semiconductors, and batteries are hit, an emergency situation will inevitably arise across the economy, including prices and exchange rates," and added, "There is particular concern that our companies' competitiveness in the U.S. market will be significantly weakened due to the higher reciprocal tariff rate compared to Japan (24%) and the European Union (EU, 20%)."

He continued, "After reviewing the report related to Korea released by the Trump administration, I found many incomprehensible parts, such as Korea being calculated to impose a 50% tariff on the U.S., including currency manipulation and trade barriers," and wrote, "There is still room for negotiation after the reciprocal tariffs are imposed, so the government and the private sector must put their heads together and prepare thorough counterarguments."

Meanwhile, Mayor Oh urged, "Political strife that stirs confusion ahead of the Constitutional Court ruling amid domestic and international economic crises such as the household debt crisis, rising prices, and stagflation concerns should be restrained," and added, "I earnestly ask everyone to unite to overcome the crisis facing the nation."