INTIEAKorea · United States - Korea Free Trade AgreementPolicyIn force

United States - Korea Free Trade Agreement

The United States-Korea Free Trade Agreement provides for the elimination of tariffs for the following goods, among others: Electric generation equipment  Mechanical equipment including pumps, appliances, and other advanced machinery Electric motors, transformers, batteries, and…

Dernière modification il y a 2 ans.

Vue extraite pour la lecture · Original pour les preuves de conformité

Cycle de vie

  1. En vigueur
  2. Dernière modification

Country / jurisdiction: Korea · Year: 2012 · Status: In force · Level: International · Type: Voluntary

The United States-Korea Free Trade Agreement provides for the elimination of tariffs for the following goods, among others:

Electric generation equipment

Mechanical equipment including pumps, appliances, and other advanced machinery

Electric motors, transformers, batteries, and capacitors

Motor vehicles

Mineral ore and processed products including graphite, manganese, copper, aluminium, and nickel

Various products manufactured using above minerals and metals such as sheets, powders, bars, and plates

Photovoltaic cells (import into Korea only)

The Agreement states goods are counted as originating from each country if they:

are wholly produced or obtained in the country (applicable to minerals, raw materials, and waste and scrap materials)

meet specific standards for the good as defined in the Agreement (applicable largely to manufactured goods) which mainly cover changes in HS codes and minimum regional value content (RVC) requirements

The Investment-related provisions of the Agreement forbids the implementation of pre-conditions such as mandatory export quotas, domestic content requirements, technology transfer, and other non-tariff barriers. National treatment and most-favoured nation treatment provisions also apply to investors from either countries, notably implying they are to be treated equally to domestic investors.

The Agreement allows either party to take temporary safeguard measures in the event of serious financial difficulties, threats, or other exceptional circumstances.

The second renegotiation of the Agreement in 2027 led to :

the introduction of quotas for Korean steel and aluminium imports into the US in exchange for an exemption in US import tariffs on those commodities

increasing waiver quota for safety standards, harmonizing ICE vehicle emissions testing, and providing reprieve for US automakers in meeting Korea fuel economy standards, all favourable to US vehicle imports to Korea.

Official source: https://ustr.gov/trade-agreements/free-trade-agreements/korus-fta/final-text

Source

https://www.iea.org/policies/18512

Document officiel chez le régulateur. Citez toujours cette URL — et non la page de détail Vantage — dans les preuves de conformité.

Connexes dans International

INTEnergy Newsoilprice:oilprice-article-45490ActualitésIn force

Oil Industry Braces for Years-Long Iran War

Oil producers, traders, and refiners are bracing for a prolonged war between the United States and Iran in the Persian Gulf with little to no hope of a quick resolution. By extension, they are also preparing for higher prices for longer, a theme present at this year’s edition of the Asia Pacific Petroleum Conference. Reuters’ Clyde Russell reported this week that the mood at APPEC was not particularly cheerful as hostilities in the Middle East escalate once again, suggesting achieving peace would be quite a challenge. The Reuters columnist…

il y a 20 heures
INTEnergy Newsoilprice:oilprice-article-45486ActualitésIn force

Stolen Electricity is Powering Illegal Crypto Farms Across the Globe

Electricity theft is a global problem, and it’s getting more dire all the time. While the problem is most common in developing countries, where grid infrastructure is limited and utilities and state authorities have lower oversight capacities, developed countries are not immune either. This theft can occur in many forms and at many scales, from individuals tapping into power lines to power their individual residences to large-scale and sophisticated theft schemes to power entire cryptocurrency mining farms. Just this week, Mexican authorities…

il y a 22 heures
INTEnergy Newsoilprice:oilprice-article-45475ActualitésIn force

The Race to Solve Nuclear Energy’s Biggest Problem

Nuclear power is growing in popularity once again as governments worldwide look to diversify their energy mix and reduce reliance on fossil fuels. Several countries are now looking to develop or expand their nuclear energy capacity over the coming decades. However, one challenge remains – nuclear waste. Disposing of waste materials from nuclear energy operations remains a complex task with no perfect solution. As countries worldwide have grown their nuclear power capacity, many governments are still struggling to decide on the best solution…

il y a 1 jour
INTEnergy Newsoilprice:oilprice-article-45473ActualitésIn force

Iran’s Security Crackdown Runs Into Resistance From Within

Iran's parliament is trying to turn fears of foreign infiltration into law. But as lawmakers work through the legislation, the debate is exposing an increasingly awkward question for the Islamic Republic: How far should the state go in policing Iranians' contact with the outside world? At the center of that debate is Parliament Speaker Mohammad Baqer Qalibaf, who, at least publicly, is doing a balancing act. He has defended the need for tougher measures against foreign infiltration while warning that the current draft of the legislation goes too…

il y a 1 jour
INTEnergy Newsoilprice:oilprice-article-45474ActualitésIn force

Why More Homes Are Switching From Gas to Heat Pumps

Heat pumps are becoming an increasingly popular alternative to gas-powered central heating systems and are increasingly being used in new construction, often driven by government incentives. A heat pump uses technology similar to that found in a refrigerator or an air conditioner, extracting heat from a source, such as the surrounding air, and amplifying and transferring the heat to where it is needed. As most of the heat is transferred rather than generated, heat pumps are far more efficient than conventional heating technologies such as boilers…

il y a 1 jour