The U.S. will lower import duties on South Korean autos to 15% effective retroactively to November 1 and match the reciprocal tariffs imposed on Japan and the EU, Commerce Secretary Howard Lutnick said on Tuesday.

A South Korean national flag is attached to the windshield of a used bus at a used car export complex in Incheon, South Korea, August 12, 2025. REUTERS/Kim Soo-hyeon

The move is according to a trade agreement between the two countries announced last month and follows South Korea's introduction of a bill to implement investment pledges for the U.S., Lutnick said in a message posted on X.