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USA-Korea: Free Trade Agreement - International Nut & Dried Fruit Council

8 October 2018|In Legal Update, News

USA-Korea: Free Trade Agreement

On September 24, 2018, the US and Korea signed an updated Free Trade Agreement (KORUS) which includes several renovated customs guidelines.

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According to the USDA, the amended KORUS represents a better deal for the agricultural sector and an important improvement in trade relations between the two nations.

On September 3, 2018, both countries released the text of agreed KORUS amendments including modifications to the US tariff schedule, renovated customs guidelines and customs verification procedures. KORUS entered into force in March 2012, and negotiations for its update started in July 2017.

USDA Secretary Statement on Signing of New Korus Trade Agreement

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USA-Korea: Free Trade Agreement

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