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South Korea’s steel exports to the United States dropped 26% year-on-year in July 2025, following a sharp increase in U.S. tariffs. Export volumes declined to 194,000 tonnes, while the total export value fell from $382 million to $283 million—the lowest monthly value since March 2021.
The decline comes after the U.S. government doubled tariffs on imported steel from 25% to 50% in June 2025, aiming to protect domestic producers. This move significantly impacted South Korea’s two leading steelmakers, Hyundai Steel and POSCO.
In response, Hyundai Steel and POSCO have announced plans to jointly invest $5.8 billion in a new integrated steel mill in Louisiana. The facility will use electric arc furnace (EAF) technology and is expected to begin production by 2029. The investment is seen as a strategic shift to mitigate export risks and secure access to the U.S. market through local production.
The tariff-driven export drop highlights the growing trade tensions and the need for adaptive strategies in global steel supply chains.
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