"The U.S. economy will grow well next year...Tariffs will be imposed around Q3"

[Anchor]
The Bank of Korea's New York office predicts that the U.S. economy will continue to grow well next year, although it will not be at the level of "alone growth" as much as this year.

Although Trump has vowed a strong tariff policy, it is highly negotiated and even if it is actually imposed, it is expected to be implemented in the third to fourth quarters of next year at the earliest.

I'm correspondent Lee Seung-yoon from New York.

[Reporter]
U.S. economy boomed this year enjoying 'alone growth' around the world,

The Bank of Korea's New York office predicts that the U.S. economy will continue to grow next year, if not as much as this year.

[Lee Jae-rang / Director of Bank of Korea's New York office: Consumption and investment are expected to continue relatively good growth while maintaining a relatively robust trend]

Thanks to stable population growth and improved labor productivity, the labor and wage markets are expected to be stable even if Trump expels illegal immigrants.

[Kim Jwagyeom / Deputy Director of the Bank of Korea's New York Office: Immigration policy is a bit uncertain, but it seems that there are a lot of positions for blue workers.]

Among Trump's second-term policies, tariffs are feared to have an adverse impact on economic growth and price management next year.Even during the

1st period, a 1% increase in effective tariff rates led to a 0.1% inflation, as well as a decline in exports and a contraction in investment.

However, it is analyzed that it is a negotiating card as the imposition of tariffs requires an investigation and takes a considerable amount of time to take effect.

[Roh Jin-young / Deputy Director of the Bank of Korea's New York Office: We need time to follow the procedures as in the past. So, wouldn't the actual tariff increase take effect as early as the fourth quarter of next year or the third quarter?.]

U.S. prices are forecast to rise 2.4% next year if there is no tariff factor.

The Bank of Korea's New York office analyzed that the Trump administration's policy changes next year are increasing uncertainties in the economic growth outlook for next year as it is difficult to predict when they will take effect and their net effects.

I'm YTN's Lee Seungyoon from New York.