Trump tariffs loom large in South Korea's 'steel city'

Quick Summary:

The US tariffs are likely to intensify those challenges, and analysts warn that should cheap Chinese steel barred from the US market begin to flood regions like Southeast Asia and Europe, South Korean steel producers will face deepening price competition.

South Korea was the fourth-largest exporter of the metal to the United States last year, accounting for 13 per cent of its total steel imports.

POHANG, South Korea: Smoke billows from chimneys as factories churn in South Korea's steelmaking heartland, now under threat from Washington's swingeing new tariffs on the port city's largest export.

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Article Details

Category: EconomyBusiness

Markets: SingaporeChinaJapanSouth KoreaUnited States

Topics: Last Been Hyundai Year Workers City Industry Pohang Steel Korea South

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-16 @ 12:13:00 (6 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 812 words

Reading Time: 5 minutes read

Sentences: 31 lines

Sentence Length: 27 words per sentence (average)

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Copyright Owner: © Channel News Asia

News ID: 26184592

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Official Website: channelnewsasia.com

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