K-STEEL AMID TRUMP'S 25% BLANKET TARIFF

Welcome to Press Perspective for this Thursday February 13th here in Seoul.

I'm Min Sunhee.

Starting today our panel session will INLCUDE a WEEKLY focus on sectors of the South Korean industry that look to be affected by Trump tariffs.

Accordingly today we touch upon the steel industry and more amid the announcement of the first blanket tariffs of 25 percent on all steel and aluminium imports into the U.S. market.

For more I have Steven Borowiec with Japanese news magazine Nikkei Asia here in the studio.

Steven as always it's good to have you here.

I also have Professor Shin Sang-hyup of International Relations at Kyung Hee University.

Professor Shin it's a pleasure.

1) Steven, let's start with Mr. Trump's 25-percent tariff on all steel and aluminium imports into the U.S. market starting mid-March.

South Korean steel makers are among those to be much affected.

First then, what has been the response here?

2) Steven, Trump tariffs on steel are not new.

He imposed them during his first term in office back in 2018 as well.

How did South Korea deal with this import duty back then?

3) Steven, Canada is the largest supplier of steel and aluminum to the U.S.

How is Canada and its related industries responding?

4) And now, Professor Shin, with regard to Mr. Trump's tariffs on steel and aluminium imports DURING his FIRST term, the World Trade Organization EARLIER ruled them "in violation" of global trade rules.

Do remind us about this ruling.

5) Professor Shin, some American businesses are also expected to be negatively affected by Trump tariffs on steel and aluminium imports.

What more can you share?

6) Meanwhile, Professor Shin, how capable is South Korea of effectively navigating these trade initiatives by the Trump administration amid its current political paralysis?

7) Steven, also on the local front.

What can you tell us about the Korean steel industry and its prospects going forward?

8) Steven, Mr. Trump has also vowed reciprocal tariffs on U.S. trade partners.

What exactly does this mean, and how do they look to affect all involved?

9) Professor Shin, speaking as a scholar, what does history tell us about the practice of reciprocal tariffs?

10) Steven, U.S. industry insiders fear U.S. tariffs on steel and aluminium imports will drive up car costs within their country.

Do share this outlook with us.

All right.