South Korea’s industry ministry held an emergency meeting today to assess the possible impact on local businesses from the United States plan to impose a 25 percent tariff on all steel and aluminium imports.

The Ministry of Trade, Industry, and Energy held a meeting with officials from major local steel companies to discuss responses to the proposed US tariffs. Earlier in the day, US President Donald Trump said he would impose a new 25 percent tariff on all steel and aluminium imports into the US.