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U.S. to Further Lower Tariff on POSCO’s Cold-rolled Steel: Sources

U.S. to Further Lower Tariff on POSCO’s Cold-rolled Steel: Sources

SEOUL, May 21 (Korea Bizwire) — The U.S. Commerce Department has decided to further lower its tariff on cold-rolled steel products by South Korea’s top steelmaker POSCO, industry sources said Tuesday. According to the sources, the U.S. government recently decided to impose a 3.23 percent tariff on cold-rolled steel sheets produced by POSCO, down from [...]

Heavy U.S. Tariffs to Hurt Steel Exports: Sources

Heavy U.S. Tariffs to Hurt Steel Exports: Sources

SEOUL, Mar. 9 (Korea Bizwire) — South Korean steel exports to the United States will take a big hit from Washington’s move to slap heavy tariffs on imported steel, local industry sources said Friday. Defying threats of retaliatory measures from major economies, U.S. President Donald Trump signed orders imposing 25 percent tariffs on steel imports, [...]

South Korean Analysts Find Dismantling KORUS FTA Advantageous for South Korea

South Korean Analysts Find Dismantling KORUS FTA Advantageous for South Korea

SEOUL, Sept. 5 (Korea Bizwire) — While the alleged development of a hydrogen bomb by North Korea is keeping the military on alert, Donald Trump’s allusions to a possible termination of the Korea – U.S. Free Trade Agreement is keeping the nation’s economy in a similar state. In the latest stream of news either decrying [...]

Trump to Sign Executive Order Directing Comprehensive Review of Major Causes of Trade Deficits

Trump to Sign Executive Order Directing Comprehensive Review of Major Causes of Trade Deficits

WASHINGTON, March 31 (Korea Bizwire) — U.S. President Donald Trump will sign an executive order directing a comprehensive review of major sources of trade deficits, officials said, as they named South Korea one of the 16 countries the U.S. runs large deficits with. The executive order calls for the Department of Commerce and the U.S. [...]

S. Korea Pushes to Extend Anti-Dumping Tariffs on Foreign Steel Products

S. Korea Pushes to Extend Anti-Dumping Tariffs on Foreign Steel Products

SEOUL, March 17 (Korea Bizwire) – South Korea’s agency handling trade remedies said Friday that it has decided to extend the current anti-dumping tariffs imposed on some foreign stainless steel products by three additional years.  The Korea Trade Commission said it will ask the finance ministry to continue to slap anti-dumping tariffs of 3.56 to [...]

Auto Exports to U.S. Sink amid Trump Woes

Auto Exports to U.S. Sink amid Trump Woes

SEOUL, Jan. 25 (Korea Bizwire) – South Korea’s auto exports to the United States fell for the first time in seven years last year amid concerns that the Trump administration may take protectionist measures on vehicle imports, industry data showed Wednesday.  According to the data compiled by the Korea Automobile Manufacturers Association, automakers here shipped [...]

Korea and Canada Near FTA in Full Force After Korean Government Approves Bill

Korea and Canada Near FTA in Full Force After Korean Government Approves Bill

SEOUL, Sep. 11 (Korea Bizwire) – A proposed free trade agreement between the Republic of Korea and Canada has received a green light from South Korea’s Cabinet council on September 11, making the parties draw one step closer to the full-fledged trade exchange with less or no tariffs between the two countries.  Korea’s Cabinet on [...]