The U.S. Department of Commerce announced it will impose tariffs on steel used in home appliances such as refrigerators and washing machines starting from the 16th, prompting the government to hold an emergency inspection meeting.
The Ministry of Trade, Industry and Energy announced on the 13th that it held an emergency inspection meeting led by Lee Seung-ryeol, head of the Industrial Policy Division, at the Korea Productivity Center in Jongno-gu, Seoul.
Representatives and executives from home appliance companies and partners, including Samsung Electronics, LG Electronics, Shinsung Deltatech, and Mirae Korea, along with officials from the Korea Electronics Association, Korea International Trade Association, Korea Trade-Investment Promotion Agency (KOTRA), and the Korea Institute for Industrial Economics and Trade attended the meeting.
Items subject to a 50% tariff include refrigerators, dryers, washing machines, dishwashers, freezers, ovens, and food waste disposal units.
Meeting participants, including government and corporation representatives, anticipated that the tariff impact would vary by item. They concluded to closely monitor U.S. trends while thoroughly examining both domestic and international impacts and discussing response strategies in depth.
A Ministry of Trade, Industry and Energy official said, “We plan to continuously operate a 'joint response task force for the home appliance industry' to closely communicate with the home appliance industry and to check the impacts on small and medium-sized enterprises as well as medium-sized partner companies and devise support measures.”