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Finanace

Trump’s Fed pick Warsh serves on board of firm at center of US-Korea trade spat

WASHINGTON — Kevin Warsh, President Donald Trump’s pick to head the Federal Reserve, has earned over $1 million since 2020 as a member of the board of e-commerce company Coupang, now at the center of trade tensions between the U.S. and South Korea. Warsh has served on the board of the Seattle-based company since October 2019, earning nearly $325,000 in total compensation each year since 2022. The company has been under investigation by Korean regulators after a mass data leak, but some U.S. investors have asked the Trump administration to scrutinize the probe, which they say discriminates against an American company. Vice President JD Vance and Korean Prime Minister Kim Min-seok discussed the issue last week, days before Trump announced a sharp increase in U.S. duties on Korean autos and other imports to 25 percent from 15 percent, saying Seoul was not living up to commitments under a trade deal reached last year. Korean officials are in Washington this week to discuss the trade deal, but have failed to resolve the dispute. Warsh, 55, is a former Fed governor who currently lectures at

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