Negotiation Background: US Tariff Pressure Forcing Key Agreement
With the effective date of the US’s high tariff policy approaching on August 1, the American government accelerated negotiations with South Korea. Previously, Trump threatened to impose tariffs of up to 25% on Korean products, severely threatening South Korea’s key export industries. As a global leader in chips, automobiles, and machinery manufacturing, the Korean economy faces significant external pressure. The two sides finally reached an agreement, providing a stable tariff environment for Korean exports and marking a new chapter in bilateral trade relations.
Agreement Highlights: 15% Tariff Set, Stabilizing Export Expectations
According to the agreement, the US will standardize tariffs on imports from Korea at 15%, which is lower than expected and significantly better than the previously threatened levels. The Korean side confirmed that cars, semiconductors, and pharmaceuticals will not be treated differently, while sensitive categories such as rice and beef will remain import-restricted. Official statements explained that this eliminates policy uncertainties for Korean manufacturing and offers substantial aid for export companies to rebuild market confidence.