President Trump’s business-driven mindset

President Trump’s business-driven mindset. January. 27, 2025 07:12. .
Only official events of the U.S. presidential inaugural ceremony are funded by the government, while side events such as the inaugural ball are prepared with donations secured by the inauguration committee managed by the president-elect. President Trump raised 170 million U.S. dollars, the highest amount ever, by offering various perks to donors giving more than 1 million dollars, such as attending dinner with the President. The amount raised was more than the inauguration donations of President Joe Biden and President Barack Obama combined.

His desire for money did not end there. President Trump recently issued virtual currencies named after himself and his wife, the so-called ‘Trump Coin’ and ‘Melania Coin.’ This has escalated into a controversial topic in the industry, and it was reported that he created a market worth tens of billions of dollars overnight and earned 58 million dollars in transaction fees on the first day alone.

He also attempted to strike a ‘deal’ with TikTok, a Chinese platform on the verge of closing its business in the United States due to the ‘TikTok ban law.’ He announced that he would approve TikTok continuing business in the U.S. if handing over half of the shares. Perhaps this is why they say ‘transactional’ is a word that accurately describes President Trump.

President Trump’s business-minded view is also reflected in foreign and trade policies. Even before taking office, he demanded that the U.S. should take back the Panama Canal if it continued to take money away from U.S. ships. He also said that he would waive tariffs for Canada if it became the 51st state of the U.S. and offered money to buy Greenland. For someone prioritizing ‘money’ in all of his decisions, dignity, shame, courtesy, and respect may not be of any value to him at all.

What kind of deal would Trump demand from Korea? President Trump ordered the administration to “investigate the causes of the U.S. trade deficit and review existing trade agreements by April 1” on the day he took office. With Korea seeing a surplus in trade with the U.S., it is highly likely that the U.S. will issue a bill to Korea by spring.

Despite devastated Korean politics, we hope to mobilize our capabilities to the fullest in diplomacy and trade to secure prior information and take preemptive responses. We have 60 days. In dealing with President Trump, who carries out the world's most powerful business diplomacy with only a 'give and take' mindset, Korea should also be equipped with a thorough business mindset and conduct detailed negotiations based on what we have 'given' and what we will 'give.'