2 weeks Ago By The Korea Herald
The Korea Customs Service said Friday it has launched a special unit to "preemptively" protect domestic companies from potential fallout due to the latest tariff measures by the US administration. The team aims to minimize anticipated disruptions stemming from US President Donald Trump's planned reciprocal tariffs, which are set to be announced next Wednesday. The measures are designed to align US import tariffs with those imposed by other countries on American exports.
"The best scenario would be for South Korea to be excluded from the US reciprocal tariff list through government-level negotiations," KCS Commissioner Ko Kwang-hyo said. "However, given the possibility of growing disparities in US tariff rates between nations, the role of the KCS becomes even more crucial." The KCS said three specialized teams will be established under the organization.
A special investigative team will oversee crackdowns on trade security violations that exploit uncertainties in the global trade environment, the KCS said. Two other teams will focus on assessing and mitigating risks in advance, and monitor US tariff policy changes and promptly disseminate relevant information to South Korean businesses. The Trump administration has already imposed a 25 percent tariff on steel and aluminum imports, effective earlier this month, without exemptions.
Trump has signaled that the upcoming reciprocal measures may not strictly follow the one-for-one tariff increases he has previously suggested. (Yonhap).
