February 21, 2008

Automotives, motor vehicles and parts accounted for two percent of total U.S industrial exports to Korea in 2006, totaling $619 million. The top U.S. exports in this sector included car body parts and accessories and sedan-type passenger vehicles. Korean tariffs range between three and 10 percent, with an average of 8.3 percent. For automotives, 97.6 percent of U.S. exports will receive duty-free treatment immediately upon implementation of the Agreement. Tariffs on high-trade U.S. products such as car body parts and accessories and most passenger vehicles will be eliminated immediately upon implementation of the Agreement.

Source: Prepared by the International Trade Administration