The government met with domestic steelmakers to discuss response measures following U.S. President Donald Trump's announcement to impose a 25-percent tariff on steel and aluminum imports, including those from South Korea.

At the meeting attended by the Korea Iron and Steel Association, POSCO and Hyundai Steel on Tuesday, the participants analyzed expected changes to the local steel industry's export environment and market competitiveness, while discussing response steps.

Trade Minister Cheong In-kyo said although there are concerns over a possible reduction in steel demand from the U.S., there remain opportunities stemming from equalized conditions of competition among steel exporting nations.

The ministry said the domestic companies agreed to reinforce response strategies through close coordination with the government.

It also pledged to actively consult with Washington regarding the protection of South Korean business interests during an upcoming high-level delegation's visit.