South Korea

The U.S. has announced a 15% tariff on imports from South Korea, including autos, as part of a trade deal, a figure that is down from the original 25%.

• South Korea would accept American products, including autos and agriculture into its markets and impose no import duties on them.
• South Korean firms would not be put at a disadvantage compared with other countries over upcoming tariffs on chips and pharmaceutical products, while retaining 50 per cent tariffs on steel and aluminum.
• South Korea would invest $350 billion in the United States in projects "owned and controlled by the United States" and selected by Trump.
• South Korea would purchase $100 billion worth of liquefied natural gas or other energy products, which the Asian country said would mean a slight shift in energy imports from the Middle East in the next four years.

A & A is closely monitoring this situation. As soon as an offiical announcement is made, or once the CBP releases a Federal Register or CSMS Guidance, we will update this page.