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The White House announced on April 30 that the U.S. administration had decided to exempt Korea from steep tariffs on steel and aluminum imports. Pictured is U.S. President Donald Trump delivering a speech as part of a banquet during his state visit to Korea on Nov. 7, 2017. (Cheong Wa Dae)

By Sohn JiAe 

The U.S. government has decided to exempt Korea from steep tariffs on steel and aluminum imports.

On April 30, the White House issued a statement saying that President Donald Trump has authorized modifications to Section 232 of the law that imposed steep tariffs on steel and aluminum.

The White House stated that U.S. Trade Representative (USTR) Robert Lighthizer reached a final agreement with Trade Minister Kim Hyun-chong on steel imports, the outlines of which both sides had previously announced.

Prior to this agreement, President Trump signed an administrative order on April 8 that would levy a 25 percent and a 10 percent tariff on all imports of Korean steel and aluminum to the U.S.. On April 22, just a day before Trump’s administrative order came into force, Washington announced that it would temporarily postpone tariffs on steel and aluminum from seven countries, including Korea, by the end of April.

jiae5853@korea.kr