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Hyundai Steel case sets clock ticking for Biden WTO, steel decisions

Materials - Metals/Mining 660 Metals - Steel 452 South Korea 522 Tariffs 1697 U.S. 4832 WTO 107

The WTO has ruled against the U.S. in the matter of tariffs covering three types of steel and one power distribution product imported from South Korea. That starts the 60 day clock for the Biden administration to respond to the WTO’s ruling that the tariffs were applied incorrectly. This will provide a test both of the administration’s attitude to the WTO more broadly as well as its positioning on steel tariffs more broadly. Imports of the four product groups have been in decline in the past 12 months reflecting the pandemic and separate section 232 steel quotas. Shipments of hot-rolled ...

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