Yujin McNamara Quoted by The Korea Times on Challenges to Business Posed by Trump Economic and Trade Policies

Akin Gump international trade counsel Yujin McNamara has been quoted by The Korea Times from a recent seminar on the topic of President Trump’s economic and trade policy in 2020.

McNamara observed that the trade policies of the Trump administration have made it difficult for companies to make long-term plans. In particular, the Section 301 tariff rate, which is a trade restriction measure for China, is likely to fluctuate, and there is no deadline for how long Section 232 tariffs will be effective. The two measures together could continue to be used after this administration leaves office, so Korean companies should be prepared for this possibility, she advised.

McNamara pointed out that supply chain management has become more complex with the imposition of these measures, so it will be necessary for companies to understand their exposure to these new tariffs as well as existing antidumping/countervailing duties. The issue becomes more difficult, she said, due to strengthened enforcement actions by Customs and Border Protection, which could include lengthy questionnaires to determine the origin of a product.