Export uncertainties eased as US confirms lowered tariffs for Korean auto, aircraft, lumber goods: minister

Uncertainties surrounding Korea's exports have partially eased as the United States confirmed the lowering of tariffs on Korean automobile, aircraft and lumber imports on the Federal Register, Seoul Industry Minister Kim Jung-kwan said Thursday. "It is fortunate that the U.S. administration has finalized tariff reductions on our major export items, such as automobiles and auto parts, aircraft and aircraft components, and lumber products, which are our largest export categories to the U.S.," Kim said in a press release, noting the measure removes uncertainty for Korean exporters. "We will actively make efforts to resolve difficulties faced by companies in the export process, such as customs clearance issues, through consultations on tariff response and tariff-voucher programs," he added. Kim's remarks came just a few hours after the administration of U.S. President Donald Trump posted on the Federal Register a notice implementing certain tariff elements of a Korea-U.S. trade deal, including a reduced duty rate of 15 percent on Korean cars retroactive on Nov. 1. The Department of CommerceWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times