Menu Content
Go Top

Economy

Trump Signs Proclamation Allowing Relief from Quotas on S. Korean Steel

Written: 2018-08-30 11:13:21Updated: 2018-08-31 13:32:57

Photo : YONHAP News

U.S. President Donald Trump has signed proclamations allowing targeted relief from steel and aluminum quotas from South Korea, Brazil and Argentina.

According to Reuters Thursday, Trump, who had slapped tariffs on steel and aluminum imports in March, signed the proclamations allowing relief from the quotas on steel from South Korea, Brazil and Argentina and on aluminum from Argentina on Wednesday.

The Commerce Department said "companies can apply for product exclusions based on insufficient quantity or quality available from U.S. steel or aluminum producers," and in such cases, an exclusion from the quota may be granted.
 
With the latest move, South Korea’s exports of steel to the U.S. are expected to rise.

Earlier in April, South Korea accepted Washington’s import quota of 70 percent of average steel imports to the U.S. in the years 2015 to 2017, in return for being permanently exempt from U.S. tariffs of 25 percent on steel and ten percent on aluminum.

Editor's Pick

Close

This website uses cookies and other technology to enhance quality of service. Continuous usage of the website will be considered as giving consent to the application of such technology and the policy of KBS. For further details >