The South Korean government is preparing a plan to respond to the 25% tariff imposed by the United States on steel imports. The response strategy is expected to be finalized before the end of this month, according to the country’s Industry Minister.
The US government has been imposing a 25% tariff on steel imports as part of its trade policies. This has affected South Korea’s steel industry, which exports a significant amount of steel to the United States. To protect local steel manufacturers, the South Korean government is working on countermeasures.
The Industry Minister announced on Thursday that the government is closely analyzing the impact of these tariffs and will soon introduce appropriate measures. The response could include negotiations with the US government, discussions at international trade organizations, or support policies for local steel companies.
South Korea is one of the top steel exporters to the US, and these tariffs have made it more difficult for Korean steel companies to compete in the American market. The government’s upcoming strategy aims to minimize the negative effects and ensure stable trade relations between the two countries.
Further details about the response plan are expected to be released later this month.
