US import duties will cost South Korea $ 2.4 billion :: Investor.bg

The new US tariffs, which represent 70% of the average for the 2015-2017 period, could result in the reduction of nearly 16,000 jobs, writes BTA. According to the government report, washing machine production will lose $ 760 million and more than 8,100 jobs, and solar generators – $ 470 million and about 1,300 jobs.

Earlier, South Korea filed an application with the World Trade Organization (WTO) for bilateral consultations with the United States on January's import duties for washing machines and machines. solar cells. According to the Asian side, these measures are contrary to the rules of the WTO. In April, the South Korean authorities announced that they planned to draw 480 million US dollars in US dollars to counter the US operations

The new US rights will mainly affect the South Korean giants LG Electronics and Samsung Electronics

The Free Trade Agreement between South Korea and the United States was signed in April 2007 and entered into force in March 2012. During his election campaign, US President Donald Trump repeatedly criticized this document as uneconomic and unfair.