https://www.chosun.com/english/world-en ... GZYFFYJKU/
Dean Baker, senior economist at the Center for Economic and Policy Research (CEPR), a U.S. think tank that argued, “South Korea and Japan would be better off paying tariffs and using their investment funds to support domestic companies rather than handing over large sums to the Donald Trump administration,” stated in an interview with this newspaper on the 15th, “The 25% tariff Trump imposed on South Korea will certainly deal a significant blow to the South Korean economy, but it would be less damaging than accepting a 15% tariff and simultaneously paying $350 billion (approximately 485 trillion Korean won).” The $350 billion figure represents roughly 84% of South Korea’s current total foreign exchange reserves.
Regarding East Asian security guarantees South Korea might seek in exchange for tariff negotiations, Baker said, “If South Korean and Japanese leaders believe they can rely on Trump to protect them from military actions by China or North Korea, that’s delusional. Do they still not understand ‘America First’? Trump will act in his own interest when the time comes. He has made it clear he is not bound by past security commitments.” Below is the Q&A.