Seoul: Mick Mulvaney, former acting White House chief of staff during U.S. President Donald Trump's first administration, stated on Thursday that U.S. trade protectionism is anticipated to persist beyond Trump's second term. "Protectionism is going to stay," Mulvaney remarked during a luncheon hosted by the American Chamber of Commerce in Korea (AMCHAM) in Seoul, highlighting the ongoing influence of U.S. tariff measures on the global economy.
According to Yonhap News Agency, Mulvaney emphasized that the "America First" agenda is expected to remain integral to U.S. policy beyond the 2028 presidential election, irrespective of the results, although it may be pursued less aggressively by future administrations. "America as the leader of free trade is over," he asserted, indicating a shift from traditional trade policies.
Mulvaney further noted that this agenda would continue to influence U.S. domestic politics, foreign policy, and global economic interactions. Addressing the impact of the U.S. conflict with Iran on global energy markets, he advised countries and businesses to explore alternative supply chains to mitigate the effects. He noted, "There are some structural changes to the energy market because of the war. Those aren't going to go away."
He also predicted that global oil prices could stay above US$100 per barrel for several months, stressing that the consequences of the conflict are not expected to diminish soon. "I think the war itself is not going to end soon," he remarked.
Mulvaney's tenure as acting White House chief of staff spanned from 2019 to 2020. Before his role in the Trump administration, he was a member of the U.S. House of Representatives.