CANADIAN AUTO SECTOR FEARS INCREASE IN SOUTH KOREAN IMPORTS AFTER TRADE DEAL SEALED
March 15th, 2014
A TRADE agreement struck between Canada and South Korea this week (Tuesday March 11) has raised fears in the Canadian automobile about a potential increase in South Korean automotive exports.Upon the agreement's ratification (which may happen within a year), South Korea will remove all existing tariffs, including on all passenger cars and light trucks (8%) and all automotive parts (3% to 8%) exported from Canada. Meanwhile, Canada will remove tariffs on all South Korea-made cars and light trucks (6.1% within three or five years). As well, 69.8% percent of all ...
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