The Trump administration has issued a notice amending the Harmonized Tariff Schedule of the U.S. to implement the following aspects of a bilateral trade agreement with South Korea.
- The U.S. will apply to imports of originating goods from Korea the higher of (1) the U.S.-Korea Free Trade Agreement or U.S. most-favored-nation tariff rate, as applicable, or (2) a “reciprocal” tariff rate of 15 percent.
- The U.S. will reduce its Section 232 tariffs on automobiles, auto parts, timber, lumber, and wood derivatives of South Korea to 15 percent. For such products with a KORUS or MFN tariff rate equal to or greater than 15 percent, no additional Section 232 tariff will apply; otherwise, the sum of the KORUS or MFN tariff and the additional Section 232 tariff will be 15 percent.
- The U.S. will remove reciprocal tariffs on certain aircraft and parts of South Korea.
The changes with respect to autos and auto parts will be retroactive to covered goods entered or withdrawn from warehouse for consumption on or after 12:01 a.m. EDT on Nov. 1, 2025. The remaining changes will be retroactive to covered goods entered or withdrawn from warehouse for consumption on or after 12:01 a.m. EDT on Nov. 14, 2025.
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