South Korea Plots Response to Doubled U.S. Steel Tariffs

To counter the new tariffs imposed by the U.S., South Korea’s Ministry of Industry has revealed plans for a strategic response. Following President Trump’s announcement of doubling steel import tariffs to 50% on Wednesday, the South Korean government convened an emergency meeting with key local steel manufacturers, including POSCO Group and Hyundai Steel Company. The meeting aimed to develop strategies to mitigate potential negative impacts on the nation’s steel industry.