US puts on Federal Register 15% tariff on S. Korean autos retroactive to Nov. 1

WASHINGTON — U.S. President Donald Trump's administration on Wednesday posted on the Federal Register a notice implementing certain tariff elements of a South Korea-U.S. trade deal, including a reduced duty rate of 15 percent on Korean autos retroactive to Nov. 1. The Department of Commerce and the Office of the U.S. Trade Representative posted the document to implement tariff-related elements of the Korea-U.S. Strategic Trade and Investment Deal ahead of its official publication date set for Thursday. The notice came after South Korea and the United States released a joint fact sheet on Nov. 13, which outlined bilateral trade and security agreements, including the U.S. agreement to lower its "reciprocal" tariffs on Korean products to 15 percent from 25 percent in return for Seoul's commitment to investing $350 billion in the U.S., among other pledges. The notice affirmed that Korean automobiles and auto parts — entered for consumption or withdrawn from warehouse for consumption on or after 12:01 a.m. on Nov. 1 (Washington time) — are subject to a 15 percent tariff, down from theWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times