U.S. restrictions on imports of South Korean steel, washing machines and solar cells are expected to cause the nation an export loss of two-point-six trillion won, or two-point-47 billion dollars, over the next five years.

A report by the National Assembly Budget Office on Thursday also estimated that the Trump administration's import restrictions could result in the potential loss of nearly 16-thousand jobs in the three industrial sectors. 

The U.S. has set its import quota for South Korean steel at 70 percent of South Korea's average exports from 2015 to 2017 and also decided to impose tariff quotas on South Korean washers for the next three years. 

In January this year, the U.S. said it will slap more tariffs on South Korean solar cells.