Steel exports to U.S. fall 18.9% y/y in first month of tariffs

Meanwhile findings for March show a slump in South Korean steel shipments to the U.S.

According to the Korea International Trade Association Korea's steel exports to the American market in March plunged almost 19 percent on year.

In fact shipments of steel sheets for cars fell some 33 percent.

Back in March the Trump administration imposed 25 percent tariffs on steel and aluminum imports into the U.S. market.

The imposition nullified South Korea's annual DUTY-FREE steel export quota of some 2-point-6 million tons which had been signed in 2018 under the first Trump administration.