Moran Demands Korea Be Excluded from Section 232 Probes
The Federation of Korean Industries sent a thank-you letter on Sept. 27 to U.S. Senator Jerry Moran, who claimed that South Korea should be excluded from Section 232 of the Trade Expansion Act of 1962.
Early this month, the senator urged the U.S. Department of Commerce and the Office of the United States Trade Representative to exclude South Korea and Japan from the section. The countries have been subject to tariffs and quotas since 2018 for national security reasons.
According to the senator, the tariffs on steel and aluminum led to a 400 percent increase in steel price last year, when the consumer price rose 4 percent, while leading to an increasing shortage in the United States to drive manufacturers out of the United States, compel manufacturers to reduce their production, and adversely affect job creation and U.S. economic growth.
“With the United States planning to make a huge infrastructure investment, the plan cannot be successful unless the steel and aluminum supply chain issues are properly dealt with,” he said, adding, “The U.S. allies including South Korea and Japan are not security threats and cooperation with them is very important in dealing with the issues.”
Earlier, the Federation of Korean Industries asked the U.S. Congress and government in 2018 to exclude South Korea from the section regarding steel import restrictions. In 2019, the federation made the same request with regard to automobile and auto parts tariffs. Last year, it adopted a joint statement with the United States Chamber of Commerce for a revision of the section.