Tariffs on 45 U.S. agricultural and livestock products, including beef, milk and tangerines, were eliminated this month under the Korea–U.S. Free Trade Agreement(KORUS FTA).

According to the Ministry of Agriculture, Food and Rural Affairs on Wednesday, tariffs on U.S. beef were reduced to zero this year from one‑point‑two to four‑point‑eight percent last year under the FTA.

Before the agreement took effect in 2012, U.S. beef had been subject to a 37‑point‑three percent tariff, which was reduced by two‑point‑six percentage points annually and phased out over 14 years.

With imported beef prices having risen recently, partly due to the weaker won against the U.S. dollar, attention is now focused on whether the tariff removal will help stabilize prices.

Tariffs were also eliminated this year on a wide range of other U.S. agricultural and livestock products, including raw milk, cheese, fresh eggs, tangerines, walnuts, peanuts, garlic and onions.