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>> It will 25% for steel, it will 10% for aluminum.>> Fierce of a trade war in Asia on Friday, after Donal Trump's bombshell announcement of across the board tariffs on steel and aluminum. Several countries sends up red flags including, China, Australia and South Korea. Australia's trade minister on Friday slammed Trumps plan saying that the tariffs will impact global trade and cause jobs.
>> My concern remains that of the back of actions like these we could see retaliatory measures that are but into place by other major economies. That is in no ones interest.>> South Korea might have felt the most pressure. Reuters Jane Chung explains why.>> The biggest concern for Asian steel makers is finding a new outlet to sell their steel products otherwise half the steel tariffs could make their products less competitive.
And still they can not be sold to the US market could end up loading domestic markets. In the case of South Korea, South Korea is the third largest steel supplier to the US, so it's quite worrisome for South Korea to find an alternative market to replace the US market if the terms are imposed as announced.
>> The Trump Administration has cited national security interest for its plan. Saying the US needs domestic supplies for its tanks and warships. Japan took issue with that idea on Friday.>>
> We hope to tell the US that imports from Japan which is an allied nation post absolutely no threat to its national security.
>> Steel has become a focus for Trump. He's pledge to restore America's own industry and punish what he calls unfair trade practices Particularly by China. However, Beijing announced the taxes wouldn't leave a big impact on China and that they are quote numb to Trump.