South Korea said on Friday it has informed the World Trade Organization (WTO) that it seeks to suspend its tariff concessions on products worth $480 million imported from the US, in response to tariffs imposed by the US on imported products, Reuters reported.
South Korea also said it plans to impose retaliatory tariffs on US products.
The Ministry of Trade, Industry and Energy of South Korea said on Friday that the suspended tariff concessions are equal in value to tariffs by the US on South Korean washing machines and solar panels.
