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Stock impact report

The South Korean mayor who protested steel tariffs outside the White House [MSNBC.com]

POSCO Holdings Inc. American Depositary Shares (Each representing 1/4th of a share of) (PKX) 
Company Research Source: MSNBC.com
POHANG, South Korea — As PresidentDonald Trumpwhirlwind trip through Asia“If tariffs keep continuing like this,” Lee Kang-deok told NBC News in an interview Tuesday, “the industry in our city will collapse. And it’s going to have a domino effect.”South Korea, the world’s 10th-biggest economy, has been trying to finalize a U.S. trade agreement to lower the tariff on its goods to 15%, down from 25%.Trump said Wednesday that a trade deal had been “pretty much finalized” with South Korea, while South Korean presidential aide Kim Yong-beom said the two governments had “reached an agreement on the detailed terms of the tariff negotiations,” which include a South Korean pledge to invest $350 billion in the U.S.But Trump’s separate 50% levy on all steel products has devastated Pohang, a port city of about half a million people on the southeastern coast of South Korea.Much like Pittsburgh, it’s synonymous with the steel industry in the country. Steel plants dot the shoreline. Its beaches are i Show less Read more
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