Seoul reaction to Trump’s 2 % tariffs on South Korean Steel Industries – Mehr News Agency | Iranian and world news

South Korean President Choi Sangmuk says its government is seeking to negotiate with US President Donald Trump’s government on its tariffs against steel and aluminum imported from Seoul.

The interim president of South Korea has also said that the CEOs of the country’s largest manufacturing companies are planning to travel to the United States, and the Seoul government is also keen to argue with Japan and the European Union.

According to him, the South Korean government will “make a comprehensive effort” to establish close relations with the Trump administration to protect the interests of its companies.

Earlier, South Korean Minister of Commerce Chaung Ekio said Trump’s 5 % tariffs to be imposed in March would reduce US steel demand and the profitability of steel exporters.

However, he said, these tariffs could be an opportunity for Korean companies to find new export markets.

Following Trump’s decision to impose a 5 % tariff against South Korea, the country’s steel producers declined. South Korea was the fourth largest exporter of steel to the United States last year after Canada, Mexico and Brazil.