South Korea trade minister says Trump steel tariffs to hit companies' profits (updated)

HYUNDAI STEEL

11/02/2025 06:37

(Add more comments from trade minister)
       SEOUL, Feb 11 (Reuters) - South Korea's Trade Minister
Cheong In-kyo said on Tuesday that  U.S. President Donald
Trump's 25% tariffs on steel and aluminum imports due to come
into force in March would reduce U.S. steel demand and erode
steel exporters' profitability.
        He said, however, the tariffs may offer opportunities
for Korean companies to find new export markets. 
  
        South Korea will "actively consider" whether there is
room for negotiation on the tariffs with the United States, even
though Trump 
    raised tariffs
     on steel and aluminum imports on Monday to a flat 25%
"without exceptions or exemptions".
  
        Cheong was speaking at a meeting with officials from
steel companies in Seoul. 
  

 (Reporting by Hyunjoo Jin and Hyunsu Yim
Editing by Ed Davies)
 ((Hyunsu.Yim@thomsonreuters.com;))