Korea Customs Service Releases Correlation Table for 'Reciprocal Tariff Exemption' Item Numbers

The Korea Customs Service announced on May 19 that it had published the "Korea-US Item Number (HTS) Correlation Table" for items exempted from US reciprocal tariffs on its official website.

Previously, on April 2, the US administration announced an executive order imposing reciprocal tariffs on major trading partners, and at that time released the item numbers for goods exempted from these tariffs.

Although the imposition of reciprocal tariffs was postponed for 90 days until July 9, according to a follow-up executive order issued on April 9, the possibility of reciprocal tariffs being implemented still remains.

However, the item numbers for goods exempted from tariffs that were previously announced are based on the US classification, making it difficult for Korean exporters to identify whether their products qualify for the exemption.

To address this, the Korea Customs Service has linked the US item numbers disclosed by the US government to the 10-digit Korean item numbers (HSK), enabling Korean exporters to easily check whether their products are exempt from reciprocal tariffs based on their export declaration item numbers.

The announced list of reciprocal tariff exemptions includes: 1) items previously subject to item-specific tariffs, 2) items currently under review for application of Section 232 of the Trade Expansion Act, and 3) certain minerals and energy products that are difficult to produce domestically in the US. In total, there are 1,043 items according to the US classification.

This list includes major Korean export items such as semiconductor devices (HS code 8541), electronic integrated circuits (HS code 8542), finished pharmaceutical products (HS code 3004), active pharmaceutical ingredients (HS code 3003), and petroleum products (HS code 2710).

Additionally, raw wood (HS code 4403), sawn timber (HS code 4407), and plywood (HS code 4412) used in wood processing, as well as copper and copper products (HS code 74), which are key raw materials for the power industry and military supplies, are also included in the reciprocal tariff exemption list.

The Korea Customs Service plans to continue expanding the correlation table by item in line with changes in US tariff policy, and to strengthen practical support for Korean exporters to the US by utilizing the currently operating "US Tariff Item Classification Consultation Center" and the "Fast Track Advance Ruling System" for item classification.

Meanwhile, in response to recent changes in US tariff policy, the Korea Customs Service has published on its website the Korea-US item number correlation tables for item-specific tariffs on steel and aluminum derivative products (March 18), as well as automobiles and parts (April 18).