Korea-US announce 15% reciprocal tariffs; No impact on seafood imports to Korea. US seafood imports to Korea maintain existing tariff rates; Some Korean exports to US may face duties.
South Korea and the United States have signed a new trade agreement, announcing a reciprocal 15% tariff imposition between the two nations. However, despite this measure, import tariffs on US seafood entering South Korea will remain unchanged, with no practical shifts expected.
Under the new agreement, the US will impose a 15% tariff on South Korean imports, while South Korea will not levy additional tariffs on US products. Consequently, South Korea will continue to exempt or maintain current tariff levels on US automobiles, agricultural and livestock products, and manufactured goods.
In the seafood sector, most US products already benefit from tariff exemptions or low rates through the Korea-US Free Trade Agreement (KORUS FTA). According to government officials, “the existing FTA conditions for US seafood will be maintained, and they are not directly subject to this reciprocal tariff agreement.”
Meanwhile, the US plans to impose a blanket 15% tariff on imports from South Korea, which could affect some Korean seafood exports. This necessitates preparation from domestic export industries.
The new trade agreement is set to take effect on August 1, 2025, with further detailed implementation rules for specific items to be announced.
South Korea’s US Seafood Imports in H1 2025
For context, in the first half of 2025, South Korea imported approximately 15,270 tons of seafood from the US, valued at USD 50.5 million. The primary imported species included frozen yellowfin sole (15.4%), frozen pollock (12.3%), frozen Atka mackerel (11.4%), and frozen skate. This indicates a significant existing trade volume that will continue under current FTA terms, unaffected by the new reciprocal tariffs on other goods.
Source : Union Forsea Corp.