Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
US President Donald Trump’s President Donald Trump is not only a wind for South Korea but also “bad for everyone,” said Korean Bank Governor Ri Chang Yong.
“I very much hope that this trade tension will scatter because it is bad for everyone,” said Bank Governor Ray Chang Yong at the end of Wednesday.
Speaking before CNBC at the Bank World Bank spring meetings, Ri said the trade tension caused the wind for the South Korean economy, and the risk of decreased economic growth has increased.
“We will directly influence US tariffs (and) also indirectly its tariffs to other countries, such as the production of semiconductors in Vietnam, the production of cars and electronics in Mexico and our battery production in Canada.”
Ray’s comments came the day before South Korea The gross domestic product first signed a contract From the fourth quarter of 2020, and previous figures showed that the country’s GDP decreased by 0.1% a year in the first quarter.
GDP release also comes when the South team goes to the US for trading negotiations while fulfilling the president’s duties dak-su saying He expects negotiations with the US to pave the way to the results that will benefit both sides.
Ministry of Commerce, Industry and Energy of South Korea Thursday said the agenda To meet with the United States, you will still have to finalize.
The Governor of the Central Bank said he would affect the growth of the country from political instability in the first quarter, but hoped that uncertainty would be “behind us” after South Korea’s presidential election.
Law trials for the impeachment of former President Jono Suka Yeola and Prime Minister Khan Dak-Su in the first quarter stretched, and in the Constitutional Court struck the impeachment of Khan in March and restoring it as a acting president, earlier Removal Yoon from office April 4.
Earlier this month, the Bank of Korea held its benchmark of 2.75% at the April meeting, saying that “it is necessary to remain cautious about the influence of increased instability of the exchange rate.”
Trump’s announcements “Liberation Day” at midnight on April 3 led to the following days the South Koreans won WIPLASH.
Asked why the Central Bank did not consider the preventive reduction to raise growth, Ray attributed the decision on the volatility of the currency, adding that the bank considered it better to hold the rate and study the data coming before deciding on relocation.
“If I make an analogy, now we feel that you are entering a dark tunnel, and then, in this case, it is better to slow down a little while the eye (adapt).”
