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| ▲ South Korean Trade Minister Yeo Han-koo (L) and U.S. Trade Representative Katherine Tai (second from L) listen to presentations by company officials during their joint visit to a SK Siltron CSS factory in Auburn, Michigan on March 16, 2022. (Yonhap) |
US-S Korea-steel imports
S. Korea already in better place than many others for steel exports to U.S.: USTR
By Byun Duk-kun
BAY CITY, Michigan, March 16 (Yonhap) -- The United States will continue to discuss with South Korea about concerns over the U.S. import quota on South Korean steel products, but Seoul is already in a better position than many other countries, U.S. Trade Representative Katherine Tai said Wednesday.
The remarks come after repeated calls from South Korean officials, including Trade Minister Yeo Han-koo, for the start of negotiations to remove or change the import quota placed by the former U.S. administration.
"I'll just tell you this is something that we have been talking about, which is Korea's interest in looking at the parameters for our steel and aluminum trade," Tai told reporters when asked if the U.S. plans to start negotiations with South Korea.
"But I will also just emphasize that in terms of accommodations from the steel and aluminum import tariff actions, Korea was actually one of the first if not the first ... to secure an accommodation from the tariffs," she added.
The former U.S. administration of Donald Trump placed import tariffs on European and Japanese steel products under what is known as the Section 232 tariff rules.
South Korea, on the other hand, had chosen an import quota instead, limiting its steel exports to the U.S. to 70 percent of its three-year average.
The Joe Biden administration has removed the import tariffs on European and Japanese products since taking office in January 2021.
Yeo earlier called on the U.S. government to "swiftly begin talks" to revise the Section 232 rules on South Korean steel imports.
Tai insisted the country was already given better treatment than many others.
"So we'll continue to talk to Korea about their concerns here, but I also want to remind everyone that Korea is actually already in a better place than a lot of others and they've already gotten an accommodation," said she.
The USTR was on a joint trip with her South Korean counterpart to Michigan to visit the production facility of a semiconductor manufacturer under South Korea's SK Group, SK Siltron CSS.
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