GM Korea FTA Statement

General Motors congratulates U.S. and Korean trade negotiators for successfully addressing many of the concerns related to auto trade in the U.S.-Korea Free Trade Agreement (FTA). We are pleased that the two governments have agreed to delay the phase-out of U.S. vehicle tariffs. This delay will allow the U.S. to assess whether Korea’s market has opened as negotiated before reducing its tariffs. GM is especially pleased that the negotiators agreed to address concerns of American auto manufacturers regarding non-tariff barriers in Korea by increasing the number of vehicles to 25,000 that can be imported into Korea under a small volume exemption. We are also pleased that the two countries agreed to add an auto specific safeguard provision and to accelerate the phase-out of tariffs on electric and extended range electric vehicles. GM will continue to work with the USTR, UAW, and the Korean government to ensure the FTA matches the spirit of fairness that all parties have worked hard to achieve and creates greater access to the Korean auto market.