Despite warnings from US trading partners, Donald Trump has formalized his decision to impose import taxes of 25% on steel and 10% on aluminum.
With the signing of the two decrees, Trump imposes import duties on steel and aluminum "pardoning", however, the main US allies. The new tariffs will be effective in 15 days and initially will not include countries such as Canada and Mexico, with which negotiations are still underway for the renewal of the Free Trade Treaty with the countries of North America (NAFTA).
Trump has left the door open for Australia, while other countries will be able to initiate talks with the administration on "alternative ways" to address the threats their products pose to US national security, according to the US government.
South Korea, considered the third largest supplier of steel to the United States, will ask Washington for exemption from the new tariffs wanted by the US President, Donald Trump, and will consider filing a complaint with the World Trade Organization ( Wto) in case of refusal. South Korea's Minister of Commerce, Paik Un-gyu, said on the 25% steel and 10% aluminum tariffs that "if this action takes effect, it will inevitably hit Korea's steel exports hard. South to the United States ". Meanwhile, the Seoul Ministry of Affairs has announced that it will seek to dialogue with the US trade representative to reach an agreement, but if the deal is unsuccessful, it will "actively consider" filing a complaint with the WTO in collaboration with other countries.
The Chinese Minister of Commerce strongly opposed the American choice and called the tariffs signed yesterday by President Donald Trump an "abuse", considering them "a serious attack on the multilateral trading system embodied by the World Trade Organization (WTO) and will certainly have a serious impact on the world trading system ". China is the world's largest producer of steel and aluminum, but its production represents only a small part (2,7% of the total for steel and 9,7% for aluminum) of US imports.
Cabinet chief Yoshihide Suga said during a press conference that "Japan will try to get an exemption from Washington's steel and aluminum duties" explaining that Japanese exports do not pose a threat to the US, and contributes greatly to US employment and industrial development. At the same time, Foreign Minister Taro Kono called the ratification "unfortunate", stating that, in all likelihood, it will have a significant impact on economic relations between Japan and the US, adding that the repercussions will also be felt on global trade. “Japan - continued Kono - will respond appropriately after examining the effects of the decree on Japanese companies, evaluating if necessary a recourse to the World Trade Organization.