The president said he planned sweeping tariffs on all steel and aluminum imports on Monday and would take other action to even out tariff rates with the rest of the world later this week.

In May 2018, Trump placed a 25 percent tariff on steel and 10 percent tariff on aluminum from most countries, citing national security, the Financial Times reports. The next month, the tariffs were expanded to include the European Union, Canada and Mexico.

South Korea is seeking to implement tariffs on some Chinese steel and producers on concerns over an influx of cheaper products flooding the market, following a similar measure from the Trump administration.