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South Korea’s steel exports to the US dropped 19% YoY in March 2025.
Trump-era tariffs of up to 104% are disrupting global steel trade.
India could benefit from shifting trade patterns if tariffs persist.
South Korea’s steel exports to the United States dropped by 19% in March 2025, a direct consequence of heightened tariffs under the Trump administration. The revised duties, which aim to shield US steelmakers from foreign competition, have significantly impacted trade flows between the two countries.
Data from the Korea Iron and Steel Association (KOSA) revealed that exports fell to 110,000 metric tons, down from 136,000 MT last year. These steep declines are attributed to the US government's move to impose up to 104% tariffs on steel and aluminum imports, especially targeting East Asian countries.
The South Korean government has expressed concern over the trade barriers and is considering appealing the tariff hikes through diplomatic and trade channels. Analysts predict further drops if these duties remain in place throughout the fiscal year.
This contraction may offer an opportunity for Indian steelmakers, who are currently facing undercutting from cheaper Chinese imports. As Korean exports slow down, Indian producers might find room to negotiate better terms or fill the supply gap in select international markets.
Also Read : India's 12% safeguard duty on flat steel imports may push prices up by ₹6,000 per tonne. India and Australia aim to enhance collaboration in critical minerals, processing
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