The country's steel exporters can breathe a sigh of relief,... at least for a few more weeks.
The United States has placed a temporary tariff exemption on steel and aluminum imports from a number of nations, including South Korea.
Lee Seung-jae reports.
Hours before the steel and aluminum tariffs were to go into effect,... U.S. President Donald Trump put a "pause" on a number of countries and regions, including the EU. But more importantly,... the list includes South Korea, the number three steel exporter to the U.S.
According to U.S. Trade Representative Robert Lighthizer on Thursday,... the idea that President Trump has, is that, based on a certain set of criteria, some nations should be left off.
The temporary exemption is aimed at finding a more permanent solution to Washington's concerns of steel and aluminum dumping.
Under the measures, the U.S. will impose tariffs of 25-percent on steel imports and ten percent on aluminum imports for countries not listed in the temporary exemption.
According to South Korean Trade Minister Kim Hyung-chong the temporary exemption will last until the end of April for now,... as the nation will continue to negotiate on the conditions for a permanent exemption.
The announcement comes as Seoul and Washington continue talks to renegotiate their free trade agreement,.. with South Korean officials, including Kim,.. lobbying in Washington in recent days to earn the tariff exemption.
South Korea's Foreign Minister Kang Kyung-wha recently said a trade row at a time when both allies are trying to make progress in efforts to denuclearize the North would not be helpful,... citing the importance of maintaining a united front on the North Korean nuclear weapons issue.
Lee Seung-jae, Arirang News.