Bibliographic Details
| Title: |
The Mayor of South Korea's Tariff-Hit Steel City Pohang Flew Across the World to Tell Trump: 'Please Stop'. |
| Authors: |
Sohn, Jiyoung (AUTHOR), WSJ, Soobin Kim Photography Tina Hsu for (AUTHOR) |
| Source: |
Wall Street Journal - Online Edition. 10/6/2025, pN.PAG-N.PAG. 1p. |
| Subjects: |
Iron industry, Recessions, Politicians, International markets, Cities & towns, Financial crises, Koreans, United States. Executive Office of the President |
| Geographic Terms: |
South Korea, United States |
| Abstract: |
The article focuses on the economic challenges faced by Pohang, South Korea, a key steelmaking city, following the U.S. government's decision to double steel tariffs to 50%. The city's mayor, Lee Kang-deok, publicly protested the tariffs outside the White House, emphasizing the detrimental impact on local steel mills, which are now operating at only 60% to 70% capacity, and the resulting 3.5% decline in steel-related employment since last November. Pohang has been designated as an "industrial crisis zone" by the South Korean government, allowing for increased subsidies and lower-interest financing to support struggling businesses amid a broader downturn in the steel industry exacerbated by global market pressures. [Extracted from the article] |
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| Database: |
Regional Business News |
