According to the ministry statement, Yeo Han‑gu, Director General of Trade Negotiations, met in Toronto with Maninder Sidhu and Canada’s Deputy Minister of Foreign Affairs Ali Essassi. During the meeting, he detailed the potential impact of the measures on South Korea’s steel industry.
The statement noted that Canada plans to reduce TRQ usage for countries with free trade agreements from 100 % to 75 %, and for countries without such agreements from 50 % to 20 %. Imports exceeding the quota would face a 50 % duty, and certain steel derivative products would be subject to a new 25 % tariff.
The South Korean side emphasized that these measures would impose additional cost pressures on supply chains and exporters, requesting that Canada consider exemptions for South Korea or expansion of existing quotas. Talks will continue with the aim of finding a constructive solution before the measures take effect.
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