High Tariffs Imposed on South Korean Steel Exported to the U.S. via Vietnam

Reuters reported on July 2 that the United States Department of Commerce would impose tariffs of up to 456 percent on some South Korean and Taiwanese steel products exported to the United States via Vietnam.

“Some steel products produced in South Korea and Taiwan have been exported to the United States in a roundabout way after being turned into corrosion-resistant carbon steel (CORE) and cold rolled steel (CRS) through processes in Vietnam,” the department said.

It has imposed tariffs on the South Korean and Taiwanese steel products since December 2015 and February 2016, respectively. The department explained that the CORE and CRS exports from Vietnam to the United States have skyrocketed 332 percent and 916 percent since the imposition of the tariffs, respectively.

“We conducted an investigation at the request of American CORE and CRS producers,” the department said, stressing that a strict enforcement of trade laws is the primary interest of the Donald Trump administration.