Higher US Tariffs Add Pressure on South Korean Steelmakers Amid Market Downturn

Higher US tariffs add pressure on South Korean steelmakers amid market downturn

A twofold increase in U.S. tariffs on steel and aluminum imports is expected to deliver a heavier blow to Korean steelmakers already grappling with oversupply and falling prices amid an economic slowd...

Trump Doubles Tariffs on Steel and Aluminum, Prompting Global Economic Concerns - Vietnam Insider

The new tariffs take effect immediately, with the United Kingdom being the only country exempt from the hike. The post Trump Doubles Tariffs on Steel and Aluminum, Prompting Global Economic Concerns appeared first on Vietnam Insider.

Korean Steel Industry Faces Crisis After US Tariff Hike, 50% Steel Tariff Delivers Blow

South Korea, the fourth-largest steel supplier to the United States, is set to take a major hit after the US government announced it will double tariffs on imported steel and aluminium from 25 per cent to 50 per cent starting Wednesday. Former President Donald Trump described the move as a deal that would “secure” the American steel industry, one that “nobody’s going to get around.” The tariff increase comes as Korean exporters struggle under th…

Trump's revised 50% tariff on steel a severe blow to Korean exporters - IndiaPost NewsPaper

NEW DELHI: South Korea, the fourth-largest steel supplier to the US, is likely to face a severe blow from the US decision to double tariffs on imported steel and aluminium from 25 per cent to 50 per cent, starting Wednesday. As reported by the Korea Herald, Trump described the move as a deal that would “secure” the American steel industry, one that “nobody’s going to get around.” As per government data, in 2024, exports to the US accounted for 1…

South Korea scrambles as Trump doubles tariffs on steel, aluminum

South Korea’s trade ministry held an emergency meeting with industry officials on Monday in response to U.S. President Donald Trump’s announcement that he would double Section 232 tariffs on steel and aluminum imports to 50% starting June 4. Trump made the remarks on May 30 during a speech at U.S. Steel in Pennsylvania and on […] The post South Korea scrambles as Trump doubles tariffs on steel, aluminum appeared first on Korea Pro.