Tariff Exemptions
입력 2018.03.26 (15:00)
수정 2018.03.26 (16:52)
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[Anchor Lead]
South Korean steel and aluminum will be excluded from stiff new tariffs in the U.S. Trade Minister Kim Hyun-chong on Monday announced the results of his negotiations with U.S. officials to secure the exemption from the tariffs, which fall under Section 232 of the U.S. Trade Expansion Act. In return, Seoul accepted import quotas in a bid to address Washington’s concerns about too much foreign metal flooding into the country. The quota will cut South Korean exports to the U.S. to 70 percent of the average posted between 2015 and 2017, or around 268-thousand tons. The figure is about 74 percent of metal exports to the U.S. posted last year. The local steel industry is expected to coordinate views on how to observe the quota.
South Korean steel and aluminum will be excluded from stiff new tariffs in the U.S. Trade Minister Kim Hyun-chong on Monday announced the results of his negotiations with U.S. officials to secure the exemption from the tariffs, which fall under Section 232 of the U.S. Trade Expansion Act. In return, Seoul accepted import quotas in a bid to address Washington’s concerns about too much foreign metal flooding into the country. The quota will cut South Korean exports to the U.S. to 70 percent of the average posted between 2015 and 2017, or around 268-thousand tons. The figure is about 74 percent of metal exports to the U.S. posted last year. The local steel industry is expected to coordinate views on how to observe the quota.
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- Tariff Exemptions
-
- 입력 2018-03-26 15:09:04
- 수정2018-03-26 16:52:55
[Anchor Lead]
South Korean steel and aluminum will be excluded from stiff new tariffs in the U.S. Trade Minister Kim Hyun-chong on Monday announced the results of his negotiations with U.S. officials to secure the exemption from the tariffs, which fall under Section 232 of the U.S. Trade Expansion Act. In return, Seoul accepted import quotas in a bid to address Washington’s concerns about too much foreign metal flooding into the country. The quota will cut South Korean exports to the U.S. to 70 percent of the average posted between 2015 and 2017, or around 268-thousand tons. The figure is about 74 percent of metal exports to the U.S. posted last year. The local steel industry is expected to coordinate views on how to observe the quota.
South Korean steel and aluminum will be excluded from stiff new tariffs in the U.S. Trade Minister Kim Hyun-chong on Monday announced the results of his negotiations with U.S. officials to secure the exemption from the tariffs, which fall under Section 232 of the U.S. Trade Expansion Act. In return, Seoul accepted import quotas in a bid to address Washington’s concerns about too much foreign metal flooding into the country. The quota will cut South Korean exports to the U.S. to 70 percent of the average posted between 2015 and 2017, or around 268-thousand tons. The figure is about 74 percent of metal exports to the U.S. posted last year. The local steel industry is expected to coordinate views on how to observe the quota.
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