Lee Jae Myung: "We Need to See What Trump's Real Card Is... No Need to Rush"

"The US Is Using Tariffs as a Bargaining Chip to Raise Something Else"

Lee Jae Myung, the presidential candidate of the Democratic Party of Korea, is speaking at the 'Real Republic of Korea Election Countermeasures Committee' Functional Headquarters Livelihood Policy Agreement Ceremony held at the Korea Federation of Small and Medium Business in Yeouido, Seoul on the 8th. Photo by Yonhap News

Lee Jae Myung, the presidential candidate of the Democratic Party of Korea, said on the 8th regarding trade issues with the United States, "We need to see what President Trump's real card is."

During a discussion with economic YouTubers broadcast on the Democratic Party's YouTube channel that day, Lee stated, "It is important not to rush things," and made these remarks. Before the discussion, Lee referred to comments made by participants at a meeting with the heads of the five major economic organizations earlier that morning, saying, "They told me, 'When someone is waiting to strike with a stick, that's when you need to move slowly.'"

Lee explained, "The United States is not aiming to raise tariffs itself, but is using the tariff card to raise something else," and added, "We will only know what that is once negotiations begin." He continued, "Just as with shipbuilding and LNG imports, there are things the United States wants, and there is also the issue of nuclear power, so we need to make a 'deal.' The business leaders I met in the morning requested that we not negotiate individually, but that domestic companies and the government unite."

He also said, "Chairman Chey Tae Won of the Korea Chamber of Commerce and Industry made a valid point when he said, 'We should not be defeated one by one as individual companies within the same country; companies and the government should unite, and countries with similar positions should also negotiate together.'"

Regarding global trade issues, it is reported that during his meeting with business leaders that morning, Lee reached a consensus that both President Trump and Chinese President Xi Jinping should attend the Asia-Pacific Economic Cooperation (APEC) summit to be held in Gyeongju, North Gyeongsang Province, in October.

Meanwhile, in the discussion with YouTubers, Lee commented on stock investment, saying, "It is right to provide tax benefits to long-term investors," and pointed out, "The reason stock investment in our country is so focused on short-term trading is because there is no profit even if you hold stocks for the long term." Regarding real estate policy, Lee stated, "I used to think that houses should be for residential purposes, not for investment, but that is only an ideal; in reality, it is not the case," and added, "There is no way to prevent people from approaching housing as an investment vehicle."