As trade negotiations between Korea and the United States were concluded on the 31st, the exemption of tariff reductions on steel products has led related stocks to show weakness.
As of 9:07 a.m. that day, HISTEEL was trading at 4,925 won, down 775 won (13.6%) from the previous trading day. Steel-related stocks such as DONG YANG STEEL PIPE at 11.03%, Husteel at 5.86%, and SeAH Steel at 3.82% were all on a downward trend.
President Donald Trump stated through his social media platform, Truth Social, that "we have agreed to conclude a trade deal with Korea," adding, "we decided to reduce the mutual tariff from 25% to 15%."
While the mutual tariff has been reduced by 10 percentage points, the item-specific tariffs applied to individual products have maintained previous levels for some items. Metals such as steel, copper, and aluminum are representative. The U.S. Department of Commerce noted regarding this trade negotiation, "the automotive tariff is adjusted from 25% to 15%," while stating, "there is no change for steel, copper, and aluminum."