US to lower tariffs on South Korean autos to 15% effective Nov 1, Lutnick says
- Country:
- South Korea
The U.S. will lower import duties on South Korean autos to 15% effective retroactively to November 1 and match the reciprocal tariffs imposed on Japan and the EU, Commerce Secretary Howard Lutnick said on Tuesday.
The move is according to a trade agreement between the two countries announced last month and follows South Korea's introduction of a bill to implement investment pledges for the U.S., Lutnick said in a message posted on X.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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