S. Korea reaches broad consensus with EU on steel import policy (opens original article in a new tab)

South Korea and the EU have reached a broad consensus on the EU's new steel import quota system, which could significantly reduce South Korea's tariff-free steel import quota. South Korea may take retaliatory measures if the policy violates their free trade agreement.

• South Korea and EU reached consensus on steel import quota system
• EU plans to reduce tariff-free steel import quota for South Korea by 46%
• South Korea may take retaliatory measures against EU's steel import policy