March 24, 2022 21:03 PM
U.S. Commerce Secretary Raimondo.
WASHINGTON (Archyde.com) – U.S. Commerce Secretary Gina Raimondo said on Wednesday the United States did not plan to renegotiate a steel quota agreement reached between South Korea and the previous Trump administration. The day before, the United States and Britain reached a new trade deal to cut tariffs on British steel and aluminum.
“They made their own deal under the previous government, they had quota arrangements, so renegotiation is not a high priority for us now,” Raimondo told Archyde.com in an interview.
South Korean officials have been pushing for talks with Washington following the U.S. struck a deal with the European Union and Japan to cut steel and aluminum tariffs.
Shortly following Trump announced a 25 percent tariff on imported steel, his administration in 2018 agreed to give South Korea a duty-free steel quota of up to 2.68 million tons a year as part of a revised U.S.-South Korea free trade agreement.