March 31, 2008

Upon implementation of the U.S.-Korea Free Trade Agreement, U.S. wheat for milling will enter Korea duty free immediately. Korea’s imports of U.S. wheat will no longer be subject to the 1.8 percent WTO tariff or the autonomous tariff-rate quota of one percent. Although this tariff differential may be small, it could provide some additional advantage when competing against Canada and Australia.

Source: Prepared by the U.S. Department of Agriculture