Korea draws the screws on steel imports in response to US drawings

South Korea intends to improve mineral imports to protect its producers from possible dumping in the local market, after US President Donald Trump continued with the application of 25% customs definitions on steel and aluminum imports from the countries of the world. South Korea, a most important product of minerals in Asia, refused to take any steps to respond immediately to customs duties on Wednesday. She chose the diplomatic road, and Seoul sent her trade minister to Washington to accelerate negotiations with the Trump administration, and promised to set measures to support his businesses by the end of this month. The recent customs tariffs come to commercial procedures applied in Trump’s first state. This time, customspigs cancel the exemptions granted to many countries, and also extend to new categories of products. South Korea was one of the countries that acquired exemptions during Trump’s first state. The surplus of steel. A new danger is the danger that steel manufacturing companies around the world face that customs duties have exacerbated the surplus, which increases pressure on producers and governments, while the demand for steel is volatile (even before the imposition of customs tariffs). Some governments have already tightened the censorship of product flow, and Taiwan launched earlier this week to combat steel products from China. South Korean Minister of Industry, Ann Duke-Gion, held a meeting with business leaders on Thursday and discussed ways to improve their joint response to US rates. He requested companies to actively communicate with the relevant authorities in the United States and immediately share the details of discussions with the government. The Ministry of Trade, Industry and Energy said in a statement that the government would develop a plan to confront unfair imports accordingly. The procedures include the intensification of censorship of imports and efforts to cheat, according to the ministry. Korea prepares for steel fluctuations on the same day. Acting South Korean President Choi Sing-Muk held a separate meeting with senior policymakers and encouraged them to prepare for the possibility of disorder in the market after applying US rates. His office said in a statement that “Choi requested the biggest efforts in negotiations with the United States, and that officials ordered to ensure that the rapid flow of steel material, which could not export to the United States and other countries, did not cause unrest in the local market.” Donald Trump said last week that South Korea imposes more unfair customs tariffs on US products compared to China, which criticizes the support of the manufacturers of chips such as “Samsung Electronics”. South Korea rejected this allegation, saying that the actual customs tariff imposed by US imports was 0.79% last year, thanks to the free trade agreement that came into effect in 2012. An upcoming meeting in Washington and visiting the South Korean Minister of Trade in Washington this week to hold a meeting with his American peers to discuss commercial issues. South Korea, the fourth largest economy in Asia, is very dependent on the trade to achieve growth, and its most important businesses achieve most of its income from foreign markets.