The tariffs, enacted through executive order last month, apply a uniform 25 percent duty on all imported steel and aluminum products, encompassing 253 derivative items.
The policy eliminates South Korea’s previous exemption quota, which had allowed the country to export 2.63 million tons of steel annually without tariffs. The measure marks a significant escalation from Trump’s first term, with aluminum duties rising to 25 percent from the previous 10 percent.
While 166 derivative products, including bolts, nuts, and springs, are now subject to immediate tariffs, duties on 87 items — such as automotive components, appliance parts, and aircraft components — have been temporarily postponed pending further guidance from the U.S. Department of Commerce.
Industry analysts suggest that while the removal of quota limits could offer South Korean steelmakers an opportunity to expand their U.S. market share, the 25 percent tariff remains a substantial barrier to competitiveness.
According to the International Trade Administration of the U.S. Department of Commerce, South Korea was the fourth-largest steel exporter to the United States last year, accounting for approximately $2.9 billion, or 9 percent, of U.S. steel imports — trailing only Canada, Mexico, and Brazil. Steel exports to the U.S. make up about 13 percent of South Korea’s total steel shipments, according to the Korea International Trade Association.
The steel and aluminum tariffs come ahead of Trump’s planned implementation of reciprocal tariffs on April 2, a policy that would adjust duties based on other countries' tariff rates and non-tariff barriers against U.S. goods.
reporter
Kim Dong-young
davekim0807@ajupress.com
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