South Korean media outlet *The Chosun* reported that the United States has allegedly imposed a 50% tariff on imports of

South Korean media outlet The Chosun reported that the United States has allegedly imposed a 50% tariff on imports of steel fasteners and molds from South Korea. The measure would take effect immediately and be calculated on the customs price rather than the metal content value, potentially increasing the taxable base substantially. As of now, there is no official confirmation from the USTR or CBP.

U.S.-South Korea trade relations on steel have been shaped by quotas and tariffs since Section 232. In 2024, a review of valuation methodology for certain steel products began. Shifting the taxable base from metal content value to customs price represents a significant tightening that would primarily affect South Korean SMEs, according to the report.