≡ US Temporarily Exempts S. Korea From Steel Tariffs
The United States is temporarily exempting South Korea from stiff tariffs on steel and aluminum imports, following weeks of lobbying by Seoul officials.
U.S. Trade Representative Robert Lighthizer told a Senate hearing in Washington Thursday that President Donald Trump had authorized a "pause" in the 25 percent tariff on imported steel and 10 percent tariff on aluminum set to go into effect Friday.
Also on the list were Canada, Mexico, the European Union, Argentina, Brazil and Australia.
South Korean Trade Minister Kim Hyun-chong said it would last until the end of April, for now, but negotiations need to continue on conditions for a permanent exemption.
South Korean officials have been in Washington in recent days for talks on renegotiating the bilateral free trade deal with the U.S., citing the importance of maintaining a united front as the allies seek to resolve the issue of North Korea's nuclear weapons program.■
[2018.03.23]
