![South Korea requests steel tariff negotiations with US](https://media.kallanish.com/filer_public/c1/c6/c1c6bc23-af32-4725-ba1d-b115950013e5/a8fefd39-5b5e-4b10-aa01-22fc5e50ef89.png)
South Korea requests steel tariff negotiations with US
South Korean trade minister Yeo Han-koo called for trade negotiations with the US on steel tariffs at a press conference on Monday.
This comes after the US and EU reached a new tariff agreement on steel exports last month, and the US agreed to renegotiate steel tariffs with Japan last week, Kallanish notes. ''Because South Korea is a rival of the EU and Japan in the US, I've strongly raised the necessity of negotiations with the US on the matter," Yeo Han-koo said.
South Korea's exclusion from these negotiations was because of Seoul's earlier agreement with the Trump administration on a limit on exports to the US of 70% of the average volume between 2015 and 2017. Such a ceiling allowed Korea-manufactured steel exports to avoid the 25% tariff imposed under Section 232 rules on other suppliers.
Regarding the timing for negotiations, Yeo said: "For the time being, it's too early to judge; however, because the United States Trade Representative (USTR) and US Department of Commerce are involved in the matter simultaneously, we will try our best for an early start by maintaining minister-level communications."
Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous