South Korea’s acting president on Tuesday vowed to “protect” local firms’ interests, after US President Donald Trump signed off on 25 percent tariffs on steel and aluminium imports.
On Monday, Trump said he was “simplifying our tariffs” on steel and aluminium, slapping “25 percent without exceptions or exemptions”.
South Korea is the fourth biggest steel exporter to the United States, following Canada, Brazil and Mexico.
On Tuesday, acting President Choi Sang-mok said Seoul was “committed to protecting the interests of our companies and reducing uncertainties by building a close relationship with the Trump administration and expanding diplomatic options”.
There are “concerns about deteriorating profitability for our industries,” Choi added, but the government will “work closely” with relevant businesses.
Trade Minister Cheong In-kyo also said Tuesday that the government will “actively consider” whether there is room for negotiation on the tariffs.
