Yonhap News Agency: South Korea to Respond to "US Imposing 50% Tariff on Steel Products"

BlockBeats News, June 2nd. According to Yonhap News Agency, the South Korean Ministry of Trade, Industry, and Energy stated that it will respond to the "U.S. Imposes 50% Tariff on Steel Products." The South Korean government held an emergency meeting today with major domestic steel manufacturers, attended by officials from local key steel suppliers such as POSCO Group and Hyundai Steel.

U.S. President Trump stated last week that this Wednesday he would double the tariff on foreign steel imports to 50%.