The US exempts South Korea from steel tariffs, instead imposes import quota

  • US President Trump has temporarily excluded six trade partners from the higher US import duties on steel and aluminum which came into effect on Friday. The cities include Canada, Mexico, Australia and the European Union. According to Trade Ministry of South Korea, it was disclosed on Monday that the US has agreed to exempt the country from steel tariffs, instead, it is going to impose a quota on steel imports as the two countries renegotiate a trade deal.