Posco's (KRX:005490) holding company will establish a new department on Friday to address global trade issues amid the Trump administration's recent imposition of 25% tariffs on all imports of steel and aluminum, Yonhap News reported Thursday.
Posco Holdings will manage trade matters for steel, battery materials, and energy resources across its affiliates, including Posco, Posco Future M (KRX:003670), and Posco International (KRX:047050), the report said.
Shares of Posco fell 3% in recent trade on Friday while those of Posco Future M fell 5%. Shares of Posco International rose nearly 4%.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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