Ruling party calls for retaliatory measures against U.S. steel tariff proposal

The floor leader of the ruling Democratic Party on Tuesday urged the United States to immediately withdraw a proposal to impose a massive tariff on steel imports from South Korea. Otherwise, he said Seoul should consider retaliatory steps.

The U.S. Commerce Department suggested last Friday slapping a 53 percent tariff on steel imports from a dozen countries, including South Korea, as part of measures to protect the local industry.

On Monday, President Moon Jae-in ordered the government to deal with such "unfair protectionist trade measures" in a "confident and resolute" manner, raising concerns that the two allies could clash head-on over trade issues.

"I express strong regret over the unilateral and dogmatic measure and the wrong retaliatory tariff must be scrapped immediately," Rep. Woo Won-shik, the ruling party's floor leader, said during a party meeting.

"We have to look closely into whether a series of U.S. measures to strengthen trade barriers are not in violation of World Trade Organization rules, and we should actively consider corresponding retaliatory measures."

Woo also said it is a far-fetched claim that civilian steel imports pose a threat to the U.S.

The proposed tariff was one of three suggestions that the Commerce Department made to President Donald Trump to protect the local industry. The two other suggestions are a global tariff of at least 24 percent on all steel imports from all countries and a quota for all countries equal to 63 percent of their respective 2017 exports to the U.S.

Trump is expected to make a decision by April 11 on what measures he will take.

The steep tariff proposal rattled South Korea because the country was the only U.S. ally on the 12-nation list. Critics and conservative opposition parties say it could be a sign of strained relations between the two countries. (Yonhap)