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South Korea's Steel Exports to US Plunge 16.3% Amid Tariffs

6/25/2025

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Summary

Story summary

South Korea's steel exports to the US plummeted by 16.3% in May, hitting $327 million, as new tariffs bite. The US ramped up tariffs from 25% to a staggering 50% within weeks, prompting local giants like Posco and Hyundai Steel to scramble for strategies to regain their competitive edge.

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Story summary

South Korea's steel exports to the US plummeted by 16.3% in May, hitting $327 million, as new tariffs bite. The US ramped up tariffs from 25% to a staggering 50% within weeks, prompting local giants like Posco and Hyundai Steel to scramble for strategies to regain their competitive edge.