Seoul’s reaction to Trump’s 5 % tariffs on South Korean steel industry

reports Mehr News Agency Reuters quoting Reuters, Choi Sangmok, South Korean President Choi Sangmok says its government has been negotiating with US President Donald Trump’s government on its tariffs against steel and aluminum imported from Seoul. Is.

South Korea’s interim president has also said that the CEOs of the country’s largest manufacturing companies intend to travel to the United States, and the Seoul government tends to react with Japan and Japan. The European Union is discussing.

, according to him, the South Korean government will “make” all-out effort “to establish close relations with the Trump administration to protect the interests of its companies.

South Korean Trade Minister Cheong Ekio said that Trump’s 2 % tariffs to be implemented in March will reduce US steel demand and steel exporters’ profitability.

However, he says these tariffs could be an opportunity for Korean companies to find new export markets.

The stock of steel producers declined after Trump’s decision to impose a 5 % tariff against South Korea. South Korea was the fourth largest exporter of steel to the United States last year after Canada, Mexico and Brazil.