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Yonhap News Agency: South Korea will respond to the "50% tariff imposed by the United States on steel products."
On June 2, according to the Korea Herald, the South Korean Ministry of Industry stated that it would respond to "the United States imposing a 50% tariff on steel products." The South Korean government held an emergency meeting today with major local steel manufacturers, attended by officials from key local steel suppliers such as POSCO Group and Hyundai Steel Company. Last week, U.S. President Trump announced that he would double the tariffs on foreign steel imports to 50% this Wednesday.