Seoul, Nov 1 (TIWN) South Korea will push for swift consultations with the US on steel tariffs amid concerns over negative impacts of a recent transatlantic trade deal on its exports of steel products, officials said here on Monday.

Last week, the U.S. announced its decision to roll back a 25 percent tariff on steel imports from the European Union and 10 percent on aluminum, which were imposed by then-President Donald Trump in 2018 under Section 232 of the U.S. Trade Expansion Act.

The deal instead calls for the implementation of a tariff-rate quota system that allows the EU to export metal products to the U.S. market without paying import taxes up to a certain volume.

"The potential increase in the volume of EU steel imports would inevitably have adverse impacts on our exports," said Joo Young-joon, director general for industry policy at Seoul's Ministry of Trade, Industry and Energy.