Government urges review of U.S. forced-labor 12.5% tariff
The government 7 month 6 submitted an opinion letter to the Office of the U.S. Trade Representative (USTR) calling for a review of the proposed additional 12.5% tariff related to forced labor. The USTR classified South Korea as a country subject to a 12.5% tariff and is conducting public consultations and a hearing before finalizing the tariff rates.
The government 7 month 6 submitted an opinion letter to the USTR under the name of the Embassy of the Republic of Korea in the United States. The letter argues that the proposed additional 12.5% tariff related to forced labor put forward by the United States is not justified and should be reviewed.
In its investigation results announced on 6 month 2, the USTR stated that countries that had taken measures related to forced labor would face a 10% tariff, while countries that had not taken such measures would face a 12.5% tariff. South Korea was included among the countries subject to a 12.5% tariff under the USTR's classification.
The government pointed out that the USTR's investigation lacked country-specific analysis. The opinion letter explained that South Korea was not identified as an economy of concern in the case studies cited by the USTR as grounds, and that allegations related to South Korea were not explicitly addressed.
The government also pointed out that the assessment cited in the USTR report does not match the actual trade data. The USTR plans to finalize the tariff rates after gathering comments and holding a public hearing.
If a direct schedule or additional measures for investors are announced, notifications may be issued through the relevant disclosure. At present, it has been confirmed that both sides have submitted written comments.
Sources: 뉴시스 경제
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