The government has dismissed claims by U.S. President Donald Trump that South Korea’s average tariff is four times higher than what the U.S. charges on South Korean products.
The trade ministry announced on Wednesday that the claims Trump made in a speech before a joint session of Congress on Tuesday are not true, adding that it will convey relevant facts to the U.S. through various channels, including the South Korean embassy in Washington.
In his speech, Trump said South Korea’s average tariff is four times higher even though the U.S. gives the country “so much help militarily and in so many other ways.”
According to the trade ministry, South Korea trades most products with the U.S. duty-free since adopting a bilateral free trade agreement(FTA) with the U.S. in 2007.
South Korea’s average tariffs on U.S. imports stood at zero-point-79 percent as of last year.
When taking into account tariff refunds, the figure is estimated to be even lower.
Under the South Korea-U.S. FTA, the tariff rate on industrial goods imported from the U.S. stands at zero percent.