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Photo = Yonhap news |
[Alpha Biz= Paul Lee] U.S. President Donald Trump announced a 25% tariff on all steel products imported into the U.S., causing a broad decline in domestic steel stocks at the opening of the market on the 10th.
POSCO Holdings briefly recorded a 52-week low in the morning session. As of 9:27 AM, the stock was trading at 228,000 KRW, a 4.60% drop compared to the previous day, after earlier hitting 227,500 KRW, down by 4.81%.
Hyundai Steel also saw a 2.48% decline, trading at 21,600 KRW, while other steel stocks such as Daehan Steel (-3.14%), Dongkuk Steel (-2.68%), KG Steel (-2.65%), and SeAH Besteel Holdings (-1.75%) were all trading lower.
President Trump announced on Sunday (local time) that "any steel coming into the U.S. will be subject to a 25% tariff, and aluminum as well." On the 10th, he plans to make an official announcement regarding this policy, with the White House clarifying that the new tariffs would be added to existing tariffs on steel and aluminum.
During his first term, President Trump imposed a 25% tariff on steel products and a 10% tariff on aluminum, citing national security concerns. At that time, South Korea was exempted from the steel tariffs through negotiations but agreed to limit its export volume via a quota system.
AlphaBIZ 폴 리(hoondork1977@alphabiz.co.kr)
