The U.S. will reduce the automobile tariff on South Korea to 15%.

02.12.2025 09:23

U.S. Secretary of Commerce Howard Lutnick announced that the tariff rate on cars imported from South Korea will be reduced to 15%.

The U.S. Department of Commerce shared a statement from U.S.-based company X's account on the social media platform, in which Secretary of Commerce Lutnick discussed the trade agreement between the U.S. and South Korea. Lutnick stated that South Korea has officially moved to implement its strategic investment law in parliament.

"THE TRADE AGREEMENT HAS DELIVERED SUCCESSFUL RESULTS"

Noting that this important step will allow U.S. industries and workers to fully benefit from the trade agreement made by U.S. President Donald Trump with South Korea, Lutnick said, "In return, the U.S. will reduce certain tariffs, including the reduction of automobile tariffs to 15% as of November 1."

TARIFFS ON AIRCRAFT PARTS WILL BE REMOVED

Lutnick stated that they will also remove tariffs on aircraft parts and that South Korea's reciprocal tariff rates will be aligned with those of Japan and the European Union (EU).