Hyundai Motor Group welcomes Korea-US trade deal

Hyundai Motor Group on Wednesday welcomed the Seoul-Washington trade deal, which cuts U.S. tariffs on imported cars from 25 percent to 15 percent, and vowed to continue efforts to strengthen its competitiveness. "We express our gratitude to the government for its dedicated efforts throughout the difficult negotiation process that led to this agreement," the company said in a statement. "Hyundai Motor and Kia will continue to pursue multifaceted measures to minimize the impact of tariffs while further strengthening our fundamentals through enhanced quality and brand competitiveness, technological innovation and other initiatives," it added. After a summit in the southeastern city of Gyeongju between President Lee Jae Myung and U.S. President Donald Trump, Kim Yong-beom, presidential chief of staff for policy, announced that both countries reached an agreement on the details of trade negotiations. The deal includes a reduction of auto tariffs to 15 percent from 25 percent, along with arrangements for the implementation of Seoul's $350 billion investment pledge in the U.S. The settlement folWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times