The U.S. government is stepping up pressure on South Korea to reduce taxes and tariffs on imported cars, citing a widening trade gap in the automotive sector. Following complaints by the U.S. trade representative regarding an auto trade imbalance, U.S. Assistant Commerce Secretary William Lash reportedly demanded that Seoul lower its tariff rate for automotive imports to 2.5%, from the current 8% level, to allow easier market access for foreign auto makers. Seoul responded ...
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