According
to Korea Iron & Steel Association, during January to August of this year,
South Korean hot-rolled steel exports to the US declined by 75.2% to 197,868
tons compared with the same period of last year.
The Korean government reduced steel exports to the US due to the US tariff
restrictions. The US Department of Commerce (DOC) has decided to impose the
duty of 13.38-57.04% on hot-rolled steel imports from Korea in August last
year.
Among them, Posco has also been levied the tariff of 57.04% which exported
hot-rolled steel sheets more than 70%.
Some mills explained the US imposed the higher tariff on Korea, so that the
trade measure facilitated the export benefits and expansion from Mexico, India
and Indonesia.
Source: yieh