New South Korean President Faces Tariff, North Korea Threats

South Korea’s newly elected President Lee Jae-myung took office with a pledge to revive a national economy threatened by Donald Trump’s tariffs just as the US president doubled duties on steel and aluminum, highlighting the pressing challenges facing the Asian leader.

“We will start by restoring people’s livelihoods and reviving the economy,” Lee said at an inauguration ceremony at the National Assembly in Seoul on Wednesday, hours after he won the country’s presidential election. “We will revive the virtuous cycle of the economy by using the national budget as a catalyst.”