U.S. Reaffirms 15% Tariff Cap on South Korean Imports on June 4

According to Yonhap News, on June 4, U.S. Commerce Secretary Howard Lutnick reaffirmed that tariff rates applied to South Korean imports will not exceed 15%, the ceiling set under a bilateral tariff agreement between the two countries. South Korea's Industry Minister Kim Jungkwan said the commitment was reiterated during a video call with Lutnick.
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