[News Today]
The European Union has decided to take urgent measures in response to the high tariffs on steel and aluminum imposed by the United States, which will also impact South Korea. On the 19th local time, Stephan Sejourne, EU’s Senior Deputy Executive for Prosperity and Industrial Strategy, announced at a press conference held in Brussels, Belgium, that the EU plans to reduce steel imports by up to 15% starting from the first of next month.
Last year, South Korea was the third-largest steel exporter to the EU. The industry is concerned that this measure will significantly impact South Korea’s main exports to the EU, such as hot-rolled steel and plywood.
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