US Commerce chief confirms South Korea's 15% tariff rate retroactive to November 1
Published on: Dec. 2, 2025, 3:35 a.m. | Source: Devdiscourse
U.S. Commerce Secretary Howard Lutnick on Monday confirmed that the general tariff rate on imports from South Korea, including on autos, would drop to 15% retroactive to November 1 because South Korea has introduced legislation in parliament to implement the country's strategic U.S. investment commitments. In a statement posted on X, Lutnick said that the move unlocks the "full benefit" of South Korea's trade deal with President Donald Trump.
