U.S. Imposes 12.5% Section 301 Tariff on South Korean Imports: What It Means for Korea’s Export Economy
“U.S. HITS SOUTH KOREA WITH 12.5% TARIFF” AI-generated image The United States has introduced a new 12.5% tariff on imports from South Korea under Section 301 of the Trade Act of 1974, raising fresh concerns for Korean exporters and global supply chains. The new measure took effect on July 24, 2026, replacing the temporary 10% global tariff imposed under Section 122. It is part of a broader U.S. tariff package targeting dozens of trading partners over their alleged failure to prevent goods produced with forced labor from entering their domestic markets. South Korea has been placed in the higher 12.5% tariff group, while several other economies face a lower rate of 10%. Why Did the United States Introduce the New Tariff? The Office of the United States Trade Representative, commonly known as the USTR, investigated whether major trading partners had adequately restricted imports connected to forced labor. According to the U.S. government, South Korea and a number of other economies ...