The South Korean government announced that the US reaffirmed its commitment to the existing Seoul-Washington tariff agreement, setting reciprocal tariffs at 15%, despite new Section 301 tariffs of 12.5% on 60 trade partners, including South Korea.
The European Parliament has given final approval to a tariff agreement with Donald Trump, set to expire Dec 31, 2029, unless renewed. The deal includes conditions for tariff reductions on steel and aluminum products.
South Korean minister confirmed with US Commerce Secretary that tariffs on Korea won't exceed the agreed 15%, despite ongoing trade investigations. This reassures concerns over potential higher tariffs.
South Korean Trade Minister Yeo Han-koo urged the U.S. to resolve trade issues, including a Section 301 probe on forced labor imports, within the existing bilateral tariff agreement. The U.S. proposed tariffs on goods from 60 economies over alleged failure to enforce import bans on forced labor products.
South Korean Trade Minister Yeo Han-koo urged the U.S. to address trade issues, including a Section 301 probe on forced labor imports, within the existing bilateral tariff agreement. The U.S. proposed tariffs on goods from 60 economies over alleged failure to enforce import bans on forced labor products.
South Korea's Trade Minister Yeo Han-koo met with U.S. Trade Representative's Deputy Assistant Jamie Green to emphasize the importance of maintaining balanced benefits under the existing Korea-U.S. tariff agreement, following a U.S. decision to impose a 12.5% tariff on Korean products.
