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S. Korea to take issue with U.S. restriction of steel imports at WTO meeting

2017/04/21 21:26

SEOUL, April 21 (Yonhap) -- South Korea plans to take issue with the United States' restriction of imports of South Korean steel products at a meeting of the World Trade Organization (WTO) next week, the trade ministry said Friday.

The government plans to raise the issue at the meeting of the WTO's Committee on Subsidies and Countervailing Measures to be held from Tuesday to Thursday in Geneva, according to the Ministry of Trade, Industry and Energy.

The move comes as the U.S. decided on April 11 to impose anti-dumping tariffs of up to almost 25 percent on oil country tubular goods (OCTG) imported from South Korean steelmakers.

On Thursday, U.S. President Donald Trump ordered an investigation into whether steel imports affect national security, a move seen as signaling tougher restrictions on foreign steel products.

"The government plans to strengthen the level of its response to the U.S. move by using bilateral and multilateral channels," the trade ministry said.

Trade Minister Joo Hyung-hwan will meet with officials from local steelmakers on Thursday to listen to their views about the latest development and discuss how to tackle, the government said.

Vice Trade Minister Woo Tae-hee plans to deliver concerns by the government and local steelmakers over Washington's latest move to slap higher anti-dumping tariffs on OCTG imports. He is on a visit to the U.S.

"The government will actively counter (the U.S. move) with the local steel industry," a ministry official said. "We will leave all possibilities open on trade issues with the U.S. and closely monitor the situation."

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