US increased tariff for Korean galvanized sheet

The United States raised tariffs on Korean galvanized steel sheets in a preliminary ruling. There is still a possibility that the US will further increase the tariff in the final decision in the future.

The US Department of Commerce has imposed a preliminary 10.32 percent tariff on Hyundai Steel's galvanized steel sheets. The tariff is up 2.43 percentage points from the previous one introduced in the final decision in the original study. On the other hand, a 4.14 percent 4.14 percent tariff was introduced on the products of the Dunkuk Iron and Steel Works - a decrease from 8.75 percent in the previous decree.

Galvanized steel sheets are cold rolled steel sheets mainly used for the production of automobiles and outdoor building materials. Last year, Korean steel companies exported US $ 440.61 million worth of galvanized steel sheets to the United States.

This is why the steel industry has given a lot of attention to the board. Specifically, Hyundai Steel is focusing on overseeing the decision as the company supplied Korea-made galvanized steel sheets to Hyundai Motor's Alabama plant and Kia Motors Georgia's US plant. If high tariffs are charged on Hyundai Steel products, it will be a heavy burden for Hyundai Motor and Kia Motors, as well as for Hyundai Steel. Dongkuk Steel Mill is stepping up its efforts to cut tariffs as the US market accounts for 10% of its sales.