US Reaffirms 15% Tariff Cap for Korea as New Forced-Labor Duties Hit 60 Countries


US Reaffirms 15% Tariff Cap for Korea as New Forced-Labor Duties Hit 60 Countries

 Korea-US-Global Briefing Friday, July 24, 2026​

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HEADLINE: US Reaffirms 15% Tariff Cap for Korea as New Forced-Labor Duties Hit 60 Countries


TOP STORY
The US Trade Representative finalized new Section 301 tariffs of 10-12.5% on 60 trading partners, including Korea and Japan, over forced-labor import concerns.
Seoul pushed back immediately, and Washington reaffirmed that the existing bilateral deal caps total new Korean tariffs at 15%.
Industry Minister Kim Jung-kwan is pressing to keep the forced-labor duty from stacking on top of a separate overproduction probe.


TRADE & TARIFF
Korea: the 12.5% forced-labor tariff is the immediate flashpoint; Seoul's read is that the 15% cap holds, but the overproduction investigation is the wildcard to watch through August.


BCW TAKE
We are watching the 15% cap, but the real number to track is what the overproduction probe adds on top.


I am taking questions on this. Best to text, then we can talk 310-866-3777​

 

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