Hyundai Motor discusses US tariff imbalance on Korean cars at AMCHAM event

Hyundai Motor President Sung Kim, who oversees the company's global external affairs, has highlighted the current imbalance in U.S. tariffs between Korean and Japanese automobiles in a meeting with the American business community in Seoul, organizers said Wednesday. In the gathering hosted by the American Chamber of Commerce in Korea (AMCHAM) in Seoul on Tuesday, the Hyundai Motor president and AMCHAM Chief Executive Officer (CEO) James Kim discussed the issue, along with those involving the need for U.S. visa reform and expanding Korean corporate investment in America. AMCHAM said in a release that a particular focus of the talks was on the "imbalance" in U.S. tariffs, with Japanese automobiles facing a 15 percent duty compared to the 25 percent rate applied to Korean vehicles. The reduction of U.S. tariffs on Japanese autos to 15 percent from 27.5 percent since Sept. 16 has put Korean auto exports to the U.S. at a disadvantage. The U.S. has agreed to lower tariffs on Korean autos to 15 percent as well, as part of the bilateral trade deal, but it remains uncertain when the deal will goWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times