South Korea imposes the second-highest tariff rate among the top 15 US trading partners after India, but for US imports, nearly all tariffs are eliminated under their free trade agreement first ...

As of 2023, the US’ average most favored nation tariff rate was 3.3%, while Korea’s rate was 13.4%. A simple comparison of the two figures would suggest Korea’s tariff rate is around four ...

SEOUL/WASHINGTON April 25 (Reuters) - South Korea and the United States agreed to craft a trade package aimed at removing new U.S. tariffs before the pause on reciprocal tariffs is lifted in July ...

Seoul has disputed this. As of 2024, South Korea’s effective tariff rate on US imports stood at 0.79 percent as the two countries have a free trade pact, according to the South Korean government.

South Korea will seek to delay the implementation of tariffs as long as possible in negotiations with the United States, its finance minister said on Tuesday, as Seoul targets cooperation in areas ...

As it faces the possibility of a 25 percent tariff on its exports, South Korea has taken notice of President Trump’s stated goal to revive U.S. shipbuilding.

SEOUL – South Korean and US trade officials have discussed extending the July 9 deadline for trade deals in a last-minute bid to avert sweeping tariffs from President Donald Trump.

Trump slapped 25% tariffs on South Korea this month, among a new set of sweeping levies, which were later suspended for three months. The U.S. now imposes 145% tariffs on China after back-and ...

South Korea said in a statement it requested exemptions from reciprocal and item-specific US tariffs, and offered cooperation on shipbuilding and energy as well as addressing trade imbalances.

Trump’s 10% baseline tariff went effect over the weekend. Higher tariffs on dozens of other countries, including a 25% tariff on South Korea, are set to begin Wednesday.

US President Donald Trump has announced reciprocal tariffs on all US trading partners from Apr 2. Earlier this month, Trump singled out South Korea for applying high tariffs. He said the US Asian ally ...