No Exceptions... US to Impose 25% Steel Tariffs on Korea and Others Starting March 12

Proclamation Announced by Trump
Including the EU, Japan, Australia, and Others

The White House officially announced that starting from the 12th of next month (local time), a 25% tariff will be imposed on steel and aluminum products imported into the United States from South Korea, Japan, Canada, Mexico, and other countries. President Donald Trump has made it clear that there will be no exceptions or exemptions, deciding to impose tariffs regardless of existing agreements with individual countries.

According to the presidential proclamation released by the White House on the 10th, President Trump will impose a 25% tariff on steel and aluminum products imported from South Korea, Japan, the United Kingdom, the European Union (EU), Argentina, Mexico, Brazil, Canada, Australia, and other countries starting March 12.

During his first term, President Trump applied Section 232 of the Trade Expansion Act citing national security reasons, imposing a 25% tariff on steel products and a 10% tariff on aluminum products. However, this time, no exceptions or exemptions will be made, and the aluminum tariff has been raised to 25%.

As a result, South Korea, one of the major steel exporters to the U.S., will be directly and indirectly affected. In 2018, during Trump's first term, South Korea negotiated a separate agreement with the U.S. regarding the steel and aluminum tariffs introduced at that time. Thanks to this, South Korea had been exempted from tariffs on 2.63 million tons of steel exports to the U.S. However, with this agreement effectively nullified, starting from March 12, all steel and aluminum products exported from South Korea to the U.S. are expected to be subject to a 25% tariff.