The US Department of Commerce has announced a new policy, boosting tariffs on steel imports from 25% to 50%. This change affects over 400 items of steel products, including raw materials. The tariff increase aims to support domestic steel production and the defense industry. The move is based on Article 232 of the Trade Expansion Act, which allows the US government to impose tariffs for national security reasons.
Source: https://www.mk.co.kr/en/economy/11394833