Government/Policy
South Korean Mill Suspends Shipments to the U.S.
Written by Tim Triplett
March 15, 2018
Anticipating the U.S. Commerce Department will soon begin considering applications for exemptions from the Trump administration tariffs on steel and aluminum, South Korea’s Dongkuk Steel has reportedly suspended its April exports to the United States.
Reuters quoted a company spokesman who said the steelmaker has put its exports to the U.S. temporarily on hold while the South Korean government seeks a waiver from the tariffs. “We will make clear what our stance is,” said Finance Minister Kim Dong-yeon. “We will deploy all possible means to respond to the U.S. steel tariffs measure.”
Dongkuk produces steel plate and sections, cold rolled, galvanized and prepainted sheet, and rebar. The steelmaker reportedly exported $122 million worth of product to the U.S. last year. Steel from South Korea is already subject to an 8.75 percent antidumping duty from the U.S. The additional 25 percent tariff is due to take effect March 23.
Tim Triplett
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