The South Korean government called on the United States to help Korean companies avoid the impact of copper import tariffs

In the face of the plan of the United States to impose import tariffs on copper products, the South Korean government called on the United States to take measures conducive to the investment and business of South Korean enterprises in the United States, so as not to hinder investment activities of South Korean enterprises in the United States.

Yonhap news Agency reported that according to the US Federal Register on Sunday (April 13) news, the South Korean Ministry of Trade, Industry and Energy submitted a position paper to the US Department of Commerce on April 1 on the launch of the US investigation into imported copper 232. The Ministry of Industry pointed out in the document that South Korean copper not only does not pose a threat to US national security, but also plays a positive role in the stability of the US economy and supply chain.

South Korean copper accounts for only 3 percent of U.S. copper imports, and most of the Korean copper foil is supplied to local Korean battery manufacturers, and the uncertainty of the supply of major materials may hinder Korean companies' long-term investment in the United States and the creation of high-quality jobs. The South Korean side called on the US side to fully consider the contribution of South Korean enterprises to the US economy, conduct a fair and reasonable investigation of the relevant situation, and said that the South Korean side expects the ROK and the US to achieve mutual benefit in the field of copper trade.

Section 232 of the Trade Expansion Act authorizes the President to impose restrictions on certain imports for national security reasons. The US Department of Commerce launched an investigation into copper imports on March 10 under the direction of President Trump and is expected to take measures such as imposing tariffs.