Global Trade Alert
Global Trade Alert

Republic of Korea: Introduction of temporary tariff concessions and import tariff-rate quotas (June 2023)

Announcement

01 Jun 2023

In June 2023, the Korean Government adopted a Presidential Decree allowing for temporarily reduced import tariff rates and temporary import tariff-rate quotas on the imports of several goods in order to reduce food prices.

Source

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Number of interventions

2

0 certainly harmful

0 likely harmful

2 liberalising

List of interventions

0 in force

Implementation date

01 Jun 2023

Revocation date:

No revocation date

Import tariff quota

On 1 June 2023, the Korean Government issued Presidential Decree No. 33497, establishing new or increasing existing import tariff-rate quotas for several products. The new quotas apply from 1 June 202...

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Import tariff

On 1 June 2023, the Korean Government issued Presidential Decree No. 33497, reducing the tariff rate for the period 1 June 2023 until 31 December 2023 for the following products: For certain beet sug...

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