Signs of Friction between Korea and U.S. Straining Trade Relations

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Signs of Friction between Korea and U.S. Straining Trade Relations

In the steel and beef industry, friction is building between Korea and the United States. According to the government, on January 22, the U.S. Congress is showing signs it will impose tariffs on steel products coming from Korea. The U.S. government also intends to file a suit against Korea with the World Trade Organization(WTO), if the negotiations, currently underway, for beef exports are not concluded satisfactorily.
U.S. steel unions are already demanding a quota system on steel imports. The U.S is seeking the abolishment of the system in which the Korean government classifies shops selling beef according to the cows place of origin: shops selling domestic beef are deemed different than those selling imported beef. The U.S. insists that due to the system, its beef exports to Korea are decreasing.
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