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South Korea averts major trade blow with 15% automotive tariff compromise

Amy Fan, Taipei; Jingyue Hsiao, DIGITIMES Asia 0

Credit: AFP

The US has reduced tariffs on imports from South Korea from 25% to 15%. This reduction benefits South Korean automakers like Hyundai Motor by cutting annual losses of around KRW30 trillion (approx. US$2.2 billion) and enhancing their competitiveness...

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