Industry Newstrade policysteel industryhanwha oceantariffs
South Korea Condemns Canada's New Steel Safeguards
5.0
South Korea's Vice Trade Minister Park Jung-sung on Dec. 1 urged Canada to withdraw new steel safeguard measures announced earlier this week, saying they may burden Korea's steel industry. Canada will cut steel TRQs for FTA partners from 100% to 75% and for non-FTA countries from 50% to 20%, and impose a 25% tariff on steel derivatives from Dec. 26.
Key Points
- 1Announces Canada cuts steel TRQs for FTA partners from 100% to 75% starting Dec. 26.
- 2Flags potential WTO and Ottawa Group rule violations, undermining rules-based multilateral trade.
- 3Urges withdrawal to avoid harming Korean steel firms' North American investments and cooperation.
Scoring Rationale
Official government response clarifies commercial impact, but limited novelty and low relevance beyond steel-sector stakeholders.
Sources
Public references used for this report.
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