Particle.news
Download on the App Store
8 ARTICLES
·
3w ago

U.S. Tariffs on South Korean Imports Drop to 15% Thursday as Trade Talks Resume

Seoul and Washington pursue talks covering auto tariff timing, non-tariff measures under the Online Platform Act, with a focus on quarantine reforms for agricultural imports

A car carrier transporting vehicles made by South Korea's automaker Kia Motors which is a sister company of South Korea’s biggest automaker company Hyundai Motors, travels near Pyeongtaek port in Pyeongtaek, South Korea, April 2, 2025. REUTERS/Kim Hong-Ji/ File Photo
Image
Trade Minister Yeo Han-koo speaks at a parliamentary session at the National Assembly in western Seoul on Aug. 6, 2025. (Yonhap)
This file photo, released by Reuters, shows U.S. President Donald Trump delivering remarks on tariffs in the Rose Garden at the White House in Washington on April 2, 2025. (Yonhap)

Overview

  • The 15% tariff rate replaces the planned 25% duty on most South Korean imports starting Thursday under a July 28 agreement.
  • Industry Minister Kim Jung-kwan said the timeline for reducing auto tariffs to 15% remains undecided and will require further talks with Washington.
  • Finance Minister Koo Yun-cheol affirmed that the existing U.S.-South Korea Free Trade Agreement stays in force, preserving key zero-tariff benefits.
  • Seoul and Washington agreed to continue negotiations on non-tariff barriers, including proposed online platform regulations to protect U.S. tech firms.
  • No new market access was granted for rice, beef or fruit, but both sides will enhance cooperation to streamline quarantine procedures for agricultural imports.