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Regulation is more difficult
Storage in case of exceeding the quantity
Korean steel export route & # 39;
The United States Customs and Border Protection Agency (CBP) announced on June 5 that it will export steel to the United States through the United States. In steel mills, Korea has limited its quota to 30% of its total quota.
However, these restrictions are not applicable to the 54 steel products exported to the United States that are subject to an annual export volume of 500 tonnes or more.
South Korea will be exempted from import duties. 25% tariff on steel as it concludes the renegotiation of the Free Trade Agreement (FTA) between Korea and the United States and tariff negotiations on steel at the end of March.
According to US trade standard Inside US Trade, Korea has already exhausted the export limit of 8 items among the 54 steel items exported by the United States. I can not export anymore.
"If we divide the quantity by quarter, some of the items will be over-exported," said Jennifer Hillman, a professor of commerce at Georgetown Law School, "The import regulations are very restrictive for setting quarterly exports as well as annual exports. "
The domestic steel industry has slowed exports to the EU and other parts of the world because of US government regulation. The EU is also worried about the fact that it is reviewing the regulations on export.
According to the Korea Iron & Steel Association, Korean steel mills exported to the EU on January 29, from 5756 tons in May to 323,070 tons in May.
An industry representative said: "Safeguarding in Europe imposes quotas based on past exports and applies tariffs over quota."
During the same period, exports to the United States increased from 275,070 to 150,8065 tons. "There is no other way to monitor quota and retrospective quota criteria," he said.
Washington: Park Joo-jin, correspondent of [email protected]
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