3,022 Consultations Received in Two Months
Tariff-Related Inquiries Account for 68%, the Largest Share
From Trade Consultations to Domestic and Overseas Briefings
It has been observed that inquiries and consultations from companies regarding tariff policies have increased following the launch of the second Trump administration.
According to the Ministry of Trade, Industry and Energy and KOTRA (Korea Trade-Investment Promotion Agency), a total of 3,022 consultations were received by the "Tariff Response 119" system between February 18, when it was established as part of a pan-government response system, and April 18. This is more than three times the number of consultations (679 cases) regarding difficulties in the Americas during the same period last year. In particular, at the time of the announcement and subsequent postponement of the US reciprocal tariffs earlier this month, more than 200 consultations were received in a single day.
Of the consultations, inquiries related to tariffs accounted for the largest share at 68%, followed by support programs, certifications, and standards (21%), finding alternative market buyers (7%), and local production and investment entry (4%). Among the detailed tariff-related inquiries, questions about tariff rates made up 81%, rules of origin 8%, timing of imposition 7%, and taxable price 4%. Over 300 consultations were also received from customs brokers.
KOTRA (Korea Trade-Investment Promotion Agency) conducting the 'Regular Briefing on Personnel Response to Trade Environment,' provided by KOTRA
"Tariff Response 119" is composed of veteran experts and customs brokers with more than 30 years of experience in US trade, providing a wide range of support from simple questions to specialized trade consultations. Consultations can be accessed via phone or through the Tariff Response 119 banner on the KOTRA website. Companies can also utilize the "Online Tariff Verification System" to directly check tariff rates for over 19,000 Korean export items to the US. The average number of daily accesses reaches 2,000.
To strengthen its tariff response capabilities, KOTRA is expanding briefings nationwide. A total of 29 briefings were held from February to April 18, attended by 3,277 participants. Since April 10, KOTRA headquarters has been hosting the "Regular Briefing on Emergency Response to Trade Environment" every Thursday. The briefings held on April 10 and 17 saw participation from 627 representatives of domestic and overseas export and international companies, both online and offline, reflecting high interest.
In addition, to improve information accessibility for regional companies, KOTRA has held nine "on-site briefings" and is also conducting briefings in overseas markets such as Vietnam. Furthermore, KOTRA plans to expand support to more than 2,000 companies facing difficulties through the Tariff Response Voucher program.
Kang Kyungsung, President of KOTRA, emphasized, "The strengthening of US protectionism is a direct burden on our companies," adding, "We will provide not only accurate information and customized consulting, but also comprehensive strategies including developing alternative markets and relocating production bases."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
