Presidential Office: "Car Tariffs Lowered to 15%... No Additional Opening for Rice and Beef"

[Financial News] The Presidential Office announced on the 31st that in the tariff negotiations with the United States, not only mutual tariffs but also U.S. tariffs on Korean automobiles will be lowered to 15%.
Kim Yongbeom, Chief Policy Officer of the Presidential Office, held a briefing at the Presidential Office in Yongsan on this day and said, "The mutual tariff of 25% that the U.S. was scheduled to impose on Korea from August 1 will be lowered to 15%, and the tariff on our main export item, automobiles, has also been lowered to 15%."
Chief Kim explained, "Tariffs on semiconductors and pharmaceuticals, which are scheduled to be imposed later, will also receive treatment that is not disadvantageous compared to other countries."
Additionally, Chief Kim stated, "It is true that there was a strong demand for opening the agricultural and livestock markets during the consultation process with the U.S., but considering food security and the sensitivity of agriculture, it was agreed not to open the domestic rice and beef markets further."
Chief Kim announced regarding the fund of 350 billion dollars to be created as a result of the agreement, "The Korea-U.S. Shipbuilding Cooperation Fund of 150 billion dollars encompasses the entire shipbuilding ecosystem, including ship construction, MRO (Maintenance, Repair, and Overhaul), and shipbuilding equipment."
Furthermore, Chief Kim added, "In addition to the shipbuilding sector, a U.S. investment fund of 200 billion dollars will be created for sectors where our companies have competitiveness, such as semiconductors, nuclear power, secondary batteries, and bio, and it will be a great opportunity for our companies interested in entering the U.S. market as strategic partners."

syj@fnnews.com Seo Youngjun Reporter