South Korea Seeks to Resolve Any 'Misunderstanding' With US About Tariff Rates
South Korea's acting president has ordered authorities to actively communicate with the U.S. administration to resolve any misunderstanding over tariffs, following a recent criticism from U.S. President Donald Trump that South Korea applies high tariffs. The effective tariff rate on U.S. imports stands at 0.79% as of 2024, according to Seoul's trade ministry. The government will also review non-tariff measures in the consultations with the U.S.
- The dispute over tariff rates highlights the complexities of global trade policies and the need for effective communication between governments to avoid misunderstandings.
- What implications might this exchange have on the broader trade relationship between South Korea and the United States, particularly in light of ongoing tensions in other areas of their bilateral relations?