February 6, 2008

Chemicals accounted for 15.4 percent of total U.S industrial exports to Korea in 2006, totaling $4.7 billion. The top U.S. exports in this sector included polycarbonates, ethylene dichloride, plastic, silicon, and skin care cosmetics. Korean tariffs range between zero and 50 percent, with an average of 6 percent. For chemicals, 48.4 percent of U.S. exports will receive duty-free treatment immediately upon implementation of the Agreement. Tariffs on high-trade U.S. products such as articles of plastic, polycarbonates, and cellulose acetate will be eliminated within three years of implementation of the Agreement.

Source: Prepared by the International Trade Administration