SEOUL: The US’ third-biggest steel supplier South Korea will ask Washington for an exemption from President Donald Trump’s new tariffs and consider filing a complaint to the World Trade Organization if it is refused, Seoul said Friday.
Trump imposed steep tariffs of 25 percent on foreign steel and 10 percent on aluminum Thursday, drawing sharp protests from allies at home and abroad amid fears of a global trade war.
South Korean trade minister Paik Un-gyu expressed his regret at the move in a meeting with steel executives, saying: “If this action takes effect, it would inevitably deal a serious blow to South Korea’s steel exports to the US.”
The South is a treaty ally of the US, which has 28,500 troops stationed in the country to protect it from the nuclear-armed North but has found itself on the receiving end of Trump’s “America First” economic agenda.
A free trade agreement between the two is being renegotiated at Washington’s behest, and talks are currently taking place in Hawaii on cost-sharing for the US military presence, after Trump said on the campaign trail that Seoul should pay more.
The trade ministry will seek consultations with the US Trade Representative at an early date to ask for reduced or no tariffs on the country’s steel products, it said in a statement.
If it is unsuccessful, it will “actively consider” filing a complaint with the WTO in cooperation with other countries, it added.
Other nations have condemned Trump’s decision, with China, the world’s second-largest economy, calling it a “serious attack” on the global trading system.
The Hyundai Research Institute said in a report Friday that 25 percent tariffs would lead to a 22 percent cut in South Korean steel exports to the US — or almost $1 billion of the nearly $4 billion-worth of steel the South shipped to the US last year.
South Korea ranks third among steel suppliers to the US after Canada and Brazil.
South Korea to consider WTO complaint over US steel tariffs
South Korea to consider WTO complaint over US steel tariffs
Gulf-EU value chain integration signals shift toward long-term economic partnership: GCC secretary general
RIYADH: Value chains between the Gulf and Europe are poised to become deeper and more resilient as economic ties shift beyond traditional trade toward long-term industrial and investment integration, according to the secretary general of the Gulf Cooperation Council.
Speaking on the sidelines of the World Governments Summit 2026 in Dubai, Jasem Al-Budaiwi said Gulf-European economic relations are shifting from simple commodity trade toward the joint development of sustainable value chains, reflecting a more strategic and lasting partnership.
His remarks were made during a dialogue session titled “The next investment and trade race,” held with Luigi Di Maio, the EU’s special representative for external affairs.
Al-Budaiwi said relations between the GCC and the EU are among the bloc’s most established partnerships, built on decades of institutional collaboration that began with the signing of the 1988 cooperation agreement.
He noted that the deal laid a solid foundation for political and economic dialogue and opened broad avenues for collaboration in trade, investment, and energy, as well as development and education.
The secretary general added that the partnership has undergone a qualitative shift in recent years, particularly following the adoption of the joint action program for the 2022–2027 period and the convening of the Gulf–European summit in Brussels.
Subsequent ministerial meetings, he said, have focused on implementing agreed outcomes, enhancing trade and investment cooperation, improving market access, and supporting supply chains and sustainable development.
According to Al-Budaiwi, merchandise trade between the two sides has reached around $197 billion, positioning the EU as one of the GCC’s most important trading partners.
He also pointed to the continued growth of European foreign direct investment into Gulf countries, which he said reflects the depth of economic interdependence and rising confidence in the Gulf business environment.
Looking ahead, Al-Budaiwi emphasized that the economic transformation across GCC states, driven by ambitious national visions, is creating broad opportunities for expanded cooperation with Europe.
He highlighted clean energy, green hydrogen, and digital transformation, as well as artificial intelligence, smart infrastructure, and cybersecurity, as priority areas for future partnership.
He added that the success of Gulf-European cooperation should not be measured solely by trade volumes or investment flows, but by its ability to evolve into an integrated model based on trust, risk-sharing, and the joint creation of economic value, contributing to stability and growth in the global economy.
GCC–EU plans to build shared value chains look well-timed as trade policy volatility rises.
In recent weeks, Washington’s renewed push over Greenland has been tied to tariff threats against European countries, prompting the EU to keep a €93 billion ($109.7 billion) retaliation package on standby.
At the same time, tighter US sanctions on Iran are increasing compliance risks for energy and shipping-related finance. Meanwhile, the World Trade Organization and UNCTAD warn that higher tariffs and ongoing uncertainty could weaken trade and investment across both regions in 2026.
