(LEAD) Trump set to impose 25 pct tariff on steel imports next week

(ATTN: UPDATES with details from 4th para; ADDS photo)

WASHINGTON, March 1 (Yonhap) -- U.S. President Donald Trump said Thursday he plans to impose a 25 percent tariff on steel imports next week, a move that could affect South Korean manufacturers.

Speaking at a meeting with business executives at the White House, Trump also said he plans to impose a 10 percent tariff on imports of aluminum.

"We'll be signing it next week. And you'll have protection for a long time in a while," he said. "You'll have to regrow your industries. That's all I'm asking."

The move is seen aimed mainly at Chinese imports, but South Korea is also an exporter of steel to the U.S.

According to the Korea Iron and Steel Association, the country shipped out US$3.2 billion worth of steel products to the U.S. in 2017.

The Trump administration has aggressively pursued trade remedies in an effort to revive domestic industries.

It recently slapped tariffs on imports of large residential washers and solar cell panels, targeting companies including South Korean electronics giants Samsung and LG.

hague@yna.co.kr
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