Jung In-gyo, the chief negotiator for trade, has clarified to the U.S. trade authorities that tariffs between the two countries should not be based on President Donald Trump’s claim that ‘Korea is four times the U.S. tariff’. According to the Free Trade Agreement (FTA), both nations impose almost no tariffs on imported goods from each other, resulting in an average tariff rate of 0%. Jung also discussed the U.S.’s concern about China using Korea as a detour export route, assuring that Korean steel exports to the U.S. are not of Chinese origin.
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Auto-posted at: 2025-03-15 09:05:17