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.
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