Republic of Korea-United States Free Trade Act

The Republic of Korea-United States Free Trade Agreement (aka KORUS FTA) goes into effect today, 3/15/2012.  KORUS is a trade agreement between the U.S. and the Republic of Korea.  The Agreement’s provisions eliminate 95% of each nation’s tariffs on goods within five years.

If you are currently importing goods from the Republic of Korea or are planning to begin importing from South Korea, please use the following links for futher information and updated duty rates:

http://www.ustr.gov/trade-agreements/free-trade-agreements/korus-fta/final-text

http://www.ustr.gov/trade-topics/trade-toolbox/free-trade-agreements-tariff-tool

http://www.cbp.gov/linkhandler/cgov/trade/trade_programs/international_agreements/free_trade/korea/korea_fta.ctt/korea_fta.pdf