Korean shakedown to provide cash for Alaska pipeline, Trump official claims

If U.S. Commerce Secretary Howard Lutnick is right, a big if, the Alaska gas pipeline could be a public works project funded by the Korean government under duress.

I find it hard to believe that the Koreans will do what Lutnick claims and hand over $200 billion in cash, some of which Lutnick claims would go to the Alaska LNG project, making it the most expensive example of government involvement in private industry.

I find it hard to believe that it would be legal for Trump to have a $200 billion slush fund that he can spend on anything he chooses.

I find it hard to believe that the Trump tariffs are legal. With support from Senate Democrats as well as Sen. Lisa Murkowski and a few other Republicans, the Senate voted against Trump tariffs on Canada and Brazil. The House will refuse to bring up the measures.

If by some miracle Lutnick is right, Trump will get cash from the Koreans in exchange for not raising the tax on U.S. purchasers of Korean cars beyond 15 percent.

Trump continues to falsely claim tariffs would be paid by Koreans, not be Americans. He is also claiming that the Koreans will invest more than $600 billion in the U.S., a number that he appears to have made up.

As if often the case with Trump and Lutnick, it’s not clear that what they are saying is accurate. And there is no joint statement with real details about the alleged free money from the Koreans. I suspect they will not be in a hurry to do anything.

After Lutnick posted the information below, the Koreans said something might have already been lost in translation about semiconductors.

“His explanation stood in contrast with Seoul's explanation that the U.S. has agreed semiconductor tariffs on Korea will not put the country at a disadvantage over its key competitor Taiwan, and that there will be no additional opening of Korea's rice and beef markets,” the Korea Herald reported.

We must also remember that it was a month-and-a-half ago that Lutnick claimed the Japanese would pay for the Alaska LNG pipeline.

U.S. Commerce Secretary Howard Lutnick says Trump will be able to tell the Japanese to pay for the Alaska pipeline, regardless of how much it costs. He claimed the Japanese government would give $550 billion to Trump before the end of his term.

“Alaska pipeline, scale, $50 billion, $100 billion, Donald Trump wants to unleash the Alaska pipelines. The Japanese will finance it. And it’s great for America. It’s fantastic,” Lutnick said.

The list of “potential investments” by Japan released this week did not mention the Alaska pipeline.

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