Market Chatter: South Korea Refutes Trump's Tariff Claim, Reaffirms Near-Zero Rate on US Imports

MT Newswires Live

2025/03/06

South Korea reaffirmed Wednesday that its average tariff on US imports was 0.79% in 2024 and is set to decline further under the Korea-US free trade agreement (FTA), Yonhap News reported Wednesday.

The clarification follows US President Donald Trump's claim that Seoul's tariffs are four times higher than those of the US. An official from South Korea's trade ministry dismissed the claim as incorrect, emphasizing that most US exports to Korea are tariff-free under the FTA, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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An official from South Korea's trade ministry dismissed the claim as incorrect, emphasizing that most US exports to Korea are tariff-free under the FTA, the report said.</p><p>(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. 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