By Kim Eun-young and Hahm Hee-eun
Photo = Yonhap News

The U.S. has officially announced that it will temporarily suspend measures to levy higher tariffs on steel and aluminum from Korea.

The White House approved the amendments to temporarily postpone tariffs on steel and aluminum from Korea and other countries, including Argentina, Australia, Brazil, Canada, Mexico and the European Union (EU).

As a result, 25 percent and 10 percent tariffs will be imposed on all exports of steel and aluminum to the U.S. starting at 12:01 a.m. on March 23. Korea and the other countries are exempt until May 1.

The U.S. government said, "We will decide whether to extend the tax exemption of these countries through negotiations, after May 1."


eykim86@korea.kr