Trump’s tariffs hit South Korean steel hard as US trade war expands



Analysis Trump’s tariffs hit South Korean steel hard as US trade war expands With no quota relief, South Korea braces for economic fallout from the return of aggressive protectionism John LeeFebruary 11, 2025 SHARE COPY LINK FACEBOOK X LINKEDIN MASTODON An illustration of a steel mill \| Image: Korea Pro U.S. President Donald Trump’s sweeping 25% tariffs on all steel and aluminum imports mark a return to his aggressive protectionist trade policies, this time without exceptions. Unlike in 2018, when South Korea secured a quota-based exemption, the new tariffs apply uniformly, dealing a direct blow to South Korean steelmakers. The Trump administration has also threatened reciprocal tariffs on semiconductors, automobiles and batteries, raising broader trade risks. With South Korea already facing weak growth this year, a slowing job market and domestic political instability, these tariffs deepen uncertainty while forcing the ROK to reassess its trade and industrial policies. TARIFF © Korea Risk Group. All rights reserved. No part of this content may be reproduced, distributed, or used for commercial purposes without prior written permission from Korea Risk Group. LATEST ANALYSIS 01South Korea’s CPTPP push exposes the cost of turning trade gains into consensus 02AI storage boom gives South Korea battery makers an EV overcapacity lifeline 03South Korea’s Mexico strategy runs into the hard limits of USMCA politics 04Preschool test ban forces South Korea’s English hagwons to rethink placement 05Lee Jae Myung’s Wall Street pitch tests South Korea’s capital market credibility 06US midterm clock raises stakes for South Korea’s $200 billion investment talks 07Lee’s Hormuz red line tests South Korea’s leverage in $350 billion US talks 08South Korea’s AI data center boom is colliding with the true cost of power

Analysis

Trump’s tariffs hit South Korean steel hard as US trade war expands

With no quota relief, South Korea braces for economic fallout from the return of aggressive protectionism

John LeeFebruary 11, 2025

Trump’s tariffs hit South Korean steel hard as US trade war expands

An illustration of a steel mill | Image: Korea Pro

U.S. President Donald Trump’s sweeping 25% tariffs on all steel and aluminum imports mark a return to his aggressive protectionist trade policies, this time without exceptions. Unlike in 2018, when South Korea secured a quota-based exemption, the new tariffs apply uniformly, dealing a direct blow to South Korean steelmakers.

The Trump administration has also threatened reciprocal tariffs on semiconductors, automobiles and batteries, raising broader trade risks. With South Korea already facing weak growth this year, a slowing job market and domestic political instability, these tariffs deepen uncertainty while forcing the ROK to reassess its trade and industrial policies.

TARIFF

LATEST ANALYSIS

01South Korea’s CPTPP push exposes the cost of turning trade gains into consensus
02AI storage boom gives South Korea battery makers an EV overcapacity lifeline
03South Korea’s Mexico strategy runs into the hard limits of USMCA politics
04Preschool test ban forces South Korea’s English hagwons to rethink placement
05Lee Jae Myung’s Wall Street pitch tests South Korea’s capital market credibility
06US midterm clock raises stakes for South Korea’s $200 billion investment talks
07Lee’s Hormuz red line tests South Korea’s leverage in $350 billion US talks
08South Korea’s AI data center boom is colliding with the true cost of power

Trump’s tariffs hit South Korean steel hard as US trade war expands

LATEST ANALYSIS

Similar Articles

About the Author

John Lee