South Korea Gets Retroactive 15% Tariff Rates After Major US Investment Pledge

TaiwanPlus News

US Commerce Secretary Howard Lutnick affirmed in an X post that reciprocal tariffs on Seoul would be lowered from 25% to 15%. The change, retroactive to Nov. 1, comes as South Korea's legislature passed laws to invest US$350 billion in the US.

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00:00The U.S. will lower its tariffs on South Korean imports to 15% after Seoul said it would increase

00:06investment in the U.S. The new rate, down from 25%, will take effect retroactively from

00:12November 1st and comes after Seoul pledged to invest 350 billion U.S. dollars in the

00:19states. U.S. Commerce Secretary Howard Lutnick said the move unlocked the full benefit of

00:25South Korea's trade deal with U.S. President Donald Trump. The reduced rate extends to

00:30car and airplane parts and aligns South Korea's rates with those seen in deals with Japan and

00:37the EU.

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