[Concall] POSCO "US Trade Regulation Section 232 Expected to Remain Until Next Year"

[Asia Economy Reporter Hwang Yoon-joo] POSCO stated on the 26th during the Q1 2021 earnings conference call that "it is difficult to expect any significant changes to the US 'Trade Expansion Act Section 232' at least until next year."

POSCO explained, "President Joe Biden is expected to focus on COVID-19, domestic economic recovery, and creating quality jobs until next year, making it unlikely for any changes in foreign policy."

The Trade Expansion Act Section 232 is a law enacted by the US Congress in 1962, which grants the president the authority to impose import restrictions if national security threats arise. In March 2018, President Trump used this provision to impose an additional 25% tariff on steel products imported from around the world. Although there were high expectations for the repeal of Section 232 under the Biden administration, steel import restrictions are still in place.

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