US, South Korea To Cut Reciprocal, Auto Tariffs To 15%

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The United States and South Korea agreed to maintain reciprocal tariffs at 15 percent following a preliminary deal struck this year, a top Seoul presidential aide said as per AFP. The two sides also agreed to “cutting tariffs on automobiles and auto parts to 15 percent," down from 25 percent, Chief Presidential Secretary for Policy Kim Yong-beom said.