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[Herald Economy — Reporter Kim Hyun-il] Mick Mulvaney, who served as acting White House chief of staff during Donald Trump’s first administration, told attendees that protectionism and a country-first economic agenda are likely to remain central to U.S. policy regardless of which party holds power.
The American Chamber of Commerce in Korea (AmCham) hosted a special luncheon discussion with Mulvaney at the Grand Hyatt Seoul in Yongsan on May 21.
The event, titled “The Return of America First: Global Business and Geopolitics in the Trump 2.0 Era,” examined the possible policy direction of a second Trump administration, shifts within the MAGA movement, U.S. trade and industrial policy, tariff and reshoring strategies, geopolitical risks in the Middle East and the Korean Peninsula, and how global supply chains are being reorganized around economic-security considerations.
Mulvaney described the Trump administration’s decision-making processes, strategic priorities, and leadership style. He also outlined how the “America First” agenda has shaped U.S. domestic politics, foreign policy, and the global economic order.
He emphasized that many of the changes now visible in Washington are not merely personal to President Trump but reflect structural dynamics that could shape the U.S. political and economic landscape over the long term.
Mulvaney added that American public sentiment shows growing fatigue with prolonged overseas interventions, that inflationary pressures are likely to persist for some time, and that government intervention in private markets appears to be increasing. He argued these are not temporary shifts but structural trends that will influence U.S. economic, industrial, and trade policy for years to come.
About 120 AmCham members and executives from major domestic and international companies attended the one-on-one discussion between AmCham Chair and CEO James Kim and Mulvaney.
Participants exchanged views on the recent surge in U.S.-South Korea investment and explored opportunities to deepen cooperation in strategic sectors such as semiconductors, shipbuilding, energy, artificial intelligence, and advanced manufacturing.
James Kim said Mulvaney is among those who have experienced Washington and the Trump administration at close range. He added that they have held many substantive conversations over time, and that meeting in Seoul for a timely, candid discussion made the event particularly meaningful.
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