Jung In-gyo, the chief of the Trade Negotiation Bureau, clarified to the U.S. trade authorities that mutual tariffs should not be considered based on President Trump’s statement that ‘Korea’s tariffs are four times higher than those of the U.S.’. According to the Free Trade Agreement (FTA) between Korea and the U.S., almost no tariffs are imposed on imported goods from each country, resulting in an average tariff rate of 0%. Jung requested that Korea should be exempted from tariffs or at least be treated non-discriminatorily compared to other major countries, and emphasized that trade between the two countries has been expanding both quantitatively and qualitatively.
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Auto-posted at: 2025-03-15 09:08:09