US restrictions on imports of South Korean steel, washing machines and solar cells may cost Asia’s fourth-largest economy more than $2.4 billion in lost exports over the coming years, a parliamentary report said last week.
The American administration’s import restrictions on the three products may cause South Korea to suffer an export loss of $2.47 billion over the next few years, according to the report by the National Assembly Budget Office.
The regulations may also result in a potential loss of nearly 16,000 jobs in the three industrial sectors, it estimated.