WORLD TRADE CENTER GREATER PHILADELPHIA | PHILADELPHIA, PA

  • Membership
    • Become a Member
    • Member Success and Feature Stories
  • About Us
    • Meet Our Team
  • Trade Missions and Shows
    • Medica 2024
    • November 3 - 13, 2024: Trade Mission to Spain, Portugal, & Morocco
  • Services
    • International Trade Counseling
    • Export Finance Assistance
    • Educational and Networking Opportunities
    • Trade Service Provider Referrals
  • Programs
    • Selling to the World >
      • Selling to the World: Training Classes
      • Press Release
      • Global Diversity Advisory Council
      • Export Training Program
    • Initiatives >
      • Making Global Local
      • Educational Institution Partnerships
    • Clubs >
      • China Club
  • Events
    • Upcoming Events
    • Signature Events >
      • WTCA's Global Business Forum
      • WTC Day
      • Global Trade Summit
      • Bringing the World to PA
  • Donate
  • Contact
  • Membership
    • Become a Member
    • Member Success and Feature Stories
  • About Us
    • Meet Our Team
  • Trade Missions and Shows
    • Medica 2024
    • November 3 - 13, 2024: Trade Mission to Spain, Portugal, & Morocco
  • Services
    • International Trade Counseling
    • Export Finance Assistance
    • Educational and Networking Opportunities
    • Trade Service Provider Referrals
  • Programs
    • Selling to the World >
      • Selling to the World: Training Classes
      • Press Release
      • Global Diversity Advisory Council
      • Export Training Program
    • Initiatives >
      • Making Global Local
      • Educational Institution Partnerships
    • Clubs >
      • China Club
  • Events
    • Upcoming Events
    • Signature Events >
      • WTCA's Global Business Forum
      • WTC Day
      • Global Trade Summit
      • Bringing the World to PA
  • Donate
  • Contact
Picture

News

U.S. Korea Connect examines FTA impact on auto exports

2/2/2016

 
As reported by U.S. Korea Connect: 
Products as diverse as automobiles, fresh lobsters, grapefruit, and coffee had previously seen tariffs as high as 30 percent, but on New Year's Day tariffs on these products were completely eliminated...
Following the 2012 implementation of the Korea-U.S. Free Trade Agreement (KORUS FTA) tariffs on U.S. passenger vehicle exports to Korea were immediately reduced from 8 percent to 4 percent. By 2014, just two years after this significant tariff reduction, U.S. auto exports to Korea reached $1 billion, a 32.4 percent increase over 2013, and a 141 percent increase over 2011, the year preceding the implementation of the KORUS FTA. Moreover, between January and November 2015, U.S. auto exports reached a record high, with an increase of $109.7 billion over 2014. The dramatic growth of U.S. auto exports to Korea is expected to continue thanks to the January 1, 2016, removal of all tariffs on autos... view U.S. Korea Connect 2016 Newsletter Issue 1 

About U.S. Korea Connect
The U.S.-Korea Free Trade Agreement (KORUS FTA) is an international partnership designed to promote the free flow of products and services between the United States and Korea. This economic relationship spurs business growth, creates jobs, generates new markets for U.S. goods and services, and strengthens an important strategic alliance.

Comments are closed.

    RSS Feed

    Categories

    All
    International Trade News
    Local And Regional News Alerts
    Member News
    Press Releases
    Success Stories
    Wtcgp Events
    Wtcgp In The News
    Wtcgp Newsletters

    Archives

    July 2023
    June 2023
    March 2023
    February 2023
    January 2023
    December 2022
    July 2022
    March 2022
    November 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    July 2019
    June 2019
    May 2019
    April 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    September 2014
    May 2014
    March 2014

Connecting Your Business to the World Starts Here!
​
Whether you have questions about our services or want to explore opportunities for global growth, we’re here to help. Our dedicated team is ready to assist you in navigating the international business landscape.

    How Can We Help You?

Submit
World Trade Center Greater Philadelphia
One Penn Center, Suite 1690
1617 John F Kennedy Blvd.
Philadelphia, 19103
Phone: (215) 586-4240 | [email protected]