US to lower tariffs on South Korean autos to 15% effective Nov 1, Lutnick says

SEOUL, Dec 2 (Reuters) ​- The U.‌S. will lower import ‌duties on South Korean autos to 15% effective retroactively to November ⁠1 and ‌match the reciprocal tariffs imposed on Japan ‍and the EU, Commerce Secretary Howard Lutnick said on ​Tuesday.

The move is ‌according to a trade agreement between the two countries announced last month and follows South Korea’s ⁠introduction of a ​bill to ​implement investment pledges for the U.S.,‍ ⁠Lutnick said in a message posted on X.⁠

(Reporting by Jack ‌Kim; Editing by ‌Leslie Adler)