SEOUL, Feb. 11 (Xinhua) -- South Korea's trade minister on Tuesday expressed concern about U.S. President Donald Trump's 25-percent tariffs on steel and aluminum imports scheduled to take effect on March 12.

Trade Minister Cheong In-kyo said in a meeting with local businessmen of steelmakers and other exporters that the tariffs were worried to relatively cut the U.S. steel prices and reduce South Korea's steel exports to the United States.

Cheong, however, noted that the tariffs may offer opportunities for domestic companies as competition conditions would become the same among major steel exporters.

The Ministry of Trade, Industry and Energy said the government will actively express its position and consult with the U.S. administration to protect the interests of the local steel industry.

South Korea's state-run think tank slashed the Asian economy's growth outlook for 2025 by 0.4 percentage points, citing the worsened economic conditions both at home and abroad.

Real gross domestic product, adjusted for inflation, was forecast to grow 1.6 percent this year, lower than the previous estimate of 2.0 percent unveiled three months earlier, according to the Korea Development Institute. Enditem

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