The United States has hinted it could delay plans to impose anti-dumping duties on imported steel and aluminum for South Korea in line with negotiations on amending the bilateral trade deal between the two allies.
Washington, however, plans to impose strong trade restrictions against China,... which could ignite a trade war between the world's two largest countries.
Kim Hyo-sun reports. The Trump administration has signaled a possible delay on imposing steel and aluminum tariffs on some countries,... including South Korea.
Speaking at a House committee meeting on Wednesday,... U.S. Trade Representative Robert Lighthizer said Seoul is in a similar position to Canada and Mexico,... who will be excluded from duties,... on the condition they successfully re-negotiate the North American Free Trade Agreement, or NAFTA.
His comments come as Washington and Seoul are working to refurbish their bilateral trade pact.
As the anti-dumping duties of 25 percent on imported steel and ten percent on aluminum are scheduled to take effect on March 23rd,... Lighthizer added that the Trump administration aims to wrap up talks over exemptions by the end of April.
Meanwhile,... the White House is said to be planning a package of tariffs and other trade restrictions against China,... according to the Wall Street Journal.
It reports that such trade restraints on China including tariffs on imports worth at least 30 billion U.S. dollars,... are part of a crackdown on Beijing's intellectual property violations.
The tariffs,... however,... will not be imposed immediately,... and the administration
plans to make the final decision after collecting opinions from U.S. industry on which products should be subject to the duties.
Also as part of the package,... Washington is likely to restrict Chinese firms from investing in the U.S.
Kim Hyo-sun, Arirang News.