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Through its phased-in tariff reductions, the agreement will raise challenges for U.S. products including wine and spirits, cotton, pulses and beans, forest products, and tree nuts.

On December 14, 2021, the World Trade Organization (WTO) released its findings from the dispute panel initiated in August 2019 against India’s trade distorting sugar subsidies. The WTO report found that India’s subsidies violated its obligations under the multilateral agreement.

The significant rise of dog- and cat-owning households in East Asia presents an opportunity to increase the U.S. exports of pet food.

On December 24, 2018, Korea issued an updated list of adjustment tariffs and voluntary tariff rate quotas (TRQs) for certain agricultural, forestry and fishery products....

U.S. oranges coming into Korea from September 1- February 28 do so under a Tariff Rate Quota (TRQ) negotiated under the Korea-U.S. Free Trade Agreement (KORUS).

South Korea’s imports of American food and agricultural products in 2018 through October totaled $7.9 billion, up 16.8 percent from the same period of the previous year.

South Korea is one of the most reliable export markets for U.S. agricultural goods. Its vibrant economy offers easy access to modern retail outlets...

Column chart comparing the change in value of U.S. agricultural exports before and after key trade agreements.

U.S. agricultural exports to South Korea have grown in recent years, largely due to tariff reductions and the lifting of non-tariff barriers under the U.S.-Korea Free Trade Agreement (KORUS).

South Korea’s imports of American food and agricultural products in 2017 through September totaled $6.3 billion, up 25 percent from the same period of the previous year.

Imports of American food and agricultural products into Korea in 2016 through September totaled $5.1 billion, down 11 percent from the previous year mainly due to reduced demand for basic...

The KORUS FTA (Free Trade Agreement) went into effect March of 2012, and the agreement’s elimination of tariffs for almonds and pistachios, as well as tariff reductions for walnuts...