Overview

• The Ministry of Trade, Industry and Energy will widen its consulting program to include deeper verification of steel and aluminum content and certificates of origin.
• Companies will see their cost-sharing requirements drastically reduced as part of the government’s effort to mitigate sudden tariff costs.
• President Trump’s administration began enforcing 50 percent duties on 407 additional steel and aluminum derivative products on August 18.
• The expanded tariff list covers machinery, auto parts and electronic devices, raising concerns over supply-chain disruptions.
• Seoul expects further product additions to the Section 232 tariff roster next month and is preparing additional contingency measures.