Overview
- The Section 232 expansion applies 50% duties to the steel and aluminum content of machinery, auto parts, electronics, home appliances and cosmetics, with the remaining value charged at a 15% Korea–U.S. tariff rate.
- A Commerce Department notice issued Aug. 15 made the duties effective at 12:01 a.m. on Aug. 18 for products cleared through U.S. customs or released from bonded warehouses.
- Korea International Trade Association data show South Korea shipped about $11.89 billion of the newly listed items to the U.S. last year, including $1.6 billion in refrigerators and $1.26 billion in cosmetics.
- The Ministry of Trade, Industry and Energy has expanded its SME support program to cover metal-content verification consulting, origin certificate assistance and reduced cost-sharing requirements.
- Officials warn that the tariff list could grow again next month and are pursuing negotiations and mitigation options with U.S. counterparts.