April 19, 2024

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[THE INVESTOR] A group of foreign business leaders, including head of Samsung Electronics America, will have a meeting with cabinet members of the Donald Trump administration on April 6, industry sources said on April 5.

The business leaders are members of the so-called “CEO Circle” consisting of regional heads of 11 companies, including Samsung, Airbus, Panasonic, Shell and Michelin that was established in February this year as part of the Organizational for International Investment, a business lobby of some 150 foreign companies doing business in the US. 

Samsung Electronics President and chief strategy officer Young Sohn

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The Samsung representative is Young Sohn, president and chief strategy officer at the Korean tech giant’s US branch. He is also the chairman of Harman International, the US audio giant that Samsung recently acquired in a US$8 billion mega deal.

Participants from the US government include Treasury Secretary Steven Mnuchin and Commerce Secretary Wilber Ross. 

The high-profile meetings come amid the escalating protectionist threats from President Trump against foreign businesses, including imposing hefty tariffs on imports.

The business leaders are likely to express their concerns about protectionist trade policies and ask for easing regulations for investments.

Samsung is also expected to ask for support on its new appliance plant there as it is in talks with several states, including Alabama and South Carolina.

By Song Seung-hyun (ssh@heraldcorp.com)