After the shocking statement from Donald Trump about raising import tariffs on steel to 50%, South Korea did not sit idly by. The country's Ministry of Industry held an urgent meeting with major players like POSCO and Hyundai Steel to prepare a response scenario. The tax hit from the US has left the South Korean steel industry worried about the risk of losing market share and significant losses in exports. The South Korean government is considering a series of response measures – from diplomacy to strong trade actions.

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