A top US trade official said the United States will temporarily exempt South Korea from stiff tariffs on steel imports.
Speaking at a Senate hearing, US Trade Representative Rober Lighthizer said US President Donald Trump had authorized a "pause" in the 25% tariff on steel and 10% tariff on aluminum imports, which are to go into effect Friday. Also on the list of exemptions are the European Union, Argentina, Brazil, Australia, Canada, and Mexico.
South Korean Trade Minister Kim Hyun-chong said the exemption will last until the end of April for now. He told Yonhap in a phone interview that South Korea needs to continue negotiations on the conditions.
Meanwhile, a Seoul court issued an arrest warrant for former South Korean president Lee Myung-bak on bribery, tax evasion, and other charges.
The former president is now at the Seoul Eastern Detention Center in Songpa-gu District. It seems most likely that the prosecutors will visit him to carry out the investigation. He was brought to the center just past midnight, after the Seoul Central District Court issued an arrest warrant against him earlier in the morning.
The 76-year-old former leader faces at least 12 charges, including taking over 10.2 million dollars in bribes from the state spy agency and businesses. Other charges include abuse of power, breach of trust, and a violation of election law.
Lee was president from 2008 to 2013.
Source: Arirang News
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