Tue Dec 02 01:19:44 UTC 2025: Okay, here’s a news article summarizing the provided text:

U.S. Reduces Tariffs on South Korean Imports Following Investment Pledge

Washington D.C. – December 2, 2025 – The United States will significantly reduce tariffs on imports from South Korea, including automobiles, after South Korea passed legislation to fulfill its strategic U.S. investment commitments. U.S. Commerce Secretary Howard Lutnick announced the move on Monday, confirming that the general tariff rate would drop to 15%, retroactive to November 1st, 2025.

The decision unlocks the “full benefit” of South Korea’s trade deal with the United States. Alongside the reduction in auto tariffs, the U.S. is removing tariffs on airplane parts and aligning South Korea’s reciprocal tariff rate with those of Japan and the European Union. Furthermore, any future national security tariffs on semiconductors and pharmaceuticals from South Korea will be capped at 15%, leveling the playing field with competitors like Japan and Taiwan.

This announcement follows South Korea’s commitment to invest $350 billion into strategic industries within the U.S., including shipbuilding. Secretary Lutnick praised South Korea’s commitment, stating, “Korea’s commitment to American investment strengthens our economic partnership and domestic jobs and industry.”

The U.S. had previously imposed a 25% tariff on South Korean imports under Section 232 of the Trade Expansion Act and the International Emergency Economic Powers Act (IEEPA). The Supreme Court is expected to make a ruling regarding the legitimacy of tariffs imposed under the latter in the coming weeks.

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