Thoroughly prepare for Trump’s re-election

First of all, the government must prepare for changes in diplomacy and security.

The Trump assassination attempt is shaking the upcoming U.S. presidential election. The possibility of Trump 2.0 is growing fast after he survived the shooting during a campaign rally in Pennsylvania last Saturday. U.S. media ratcheted up the likelihood of his re-election after the failed assassination attempt. Politico even mentioned “the hand of God” to explain the former U.S. president’s remarkable survival. The U.S. financial community also joined the chorus by deeming his re-election a fait accompli. The price of Bitcoin in which Trump had shown an interest soared to $63,000 on Monday.

Given Korea’s close ties with the United States, such developments are sounding alarms. If President Joe Biden can extend his term for another four years, the status quo will prevail. But if Trump is re-elected, Korea must adapt to his America First 2.0 plan. The time has come for the government to raise Plan B to the level of Plan A to brace for Trump’s second term.

First of all, the government must prepare for changes in diplomacy and security. In his earlier interview with Time magazine, Trump once again wondered why the United States must protect “a rich country like Korea,” suggesting pressure on Korea to share more defense costs if he returns to the White House. Our government must develop logic in which it can refuse excessive demands from Washington. At the same time, the government must maintain effective channels to communicate with Trump’s campaign. Given Trump’s emphasis on his friendship with North Korean leader Kim Jong-un, the government must prepare for direct trade between the two.

The Trump administration 2.0 will certainly deepen economic uncertainties. In the party platform announced on July 8, the Republican Party said it plans to rebuild America into the world’s dominant energy producer and manufacturing powerhouse. The platform also threatened to scrap the federal mandates on electric vehicles. Trump would impose a universal 10-percent tariff on all imports through a trade war to embody his America First 2.0 plan. If the tariff war is accelerated, global trade will shrink, and our economy, highly relying on export, will suffer a critical blow.

Fortunately, we have experienced Trump’s presidency already. The government must learn lessons on Trump by seeking advice from officials from the past Moon Jae-in administration. Considering Trump’s tendency to cherish personal relationships, President Yoon Suk Yeol may have to demonstrate his hidden talent for a big give-and-take. Former Japanese Prime Minister Shinzo Abe flew to the United States immediately after Trump’s election victory on November 8, 2016, to establish friendly relations with him. President Yoon must not forget that.