South Korea Secures Permanent Exemption to U.S. Steel Tariff
03/26/2018 - U.S. officials have agreed to exempt South Korea from the Section 232 tariffs in exchange for limits on the amount of steel it exports to the U.S.
According to The Korea Herald, steel exports will be exempted from the tariff on promises that it limits volumes to 2.68 million tons annually, about 30% less than the annual average over the last three years.
"It is a good thing that Korea is exempted from the high tariffs, but we still feel sad the government’s effort to secure greater quota (from the US) was not fully achieved," the Korea Iron & Steel Association said, according to the newspaper.
The Herald has more here.
