Seasoned 'gim' exempt from US tariff

Exports of seasoned gim, or dried seaweed, are gaining momentum as the United States — a major global market for the Korean product — began exempting it from tariffs last month, the government said Sunday. According to the Ministry of Oceans and Fisheries, the U.S. government lifted a 15 percent tariff on Korean gim, allowing it to enter the U.S. market at a zero percent tariff starting Nov. 13. The ministry added that the measure was part of the joint fact sheet on a bilateral trade and security agreement following President Lee Jae Myung’s summit with U.S. President Donald Trump in October. The joint fact sheet states that the U.S. intends to remove tariffs on certain natural resources that are not produced domestically, making seasoned gim a beneficiary of the policy. Unseasoned gim, however, remains subject to a 15 percent tariff in trade with the U.S. The U.S. has been a critical global market for Korean gim, driven by its popularity among American consumers. Korean gim exports to the U.S. totaled $228 million through November this year, up 15.9 percent from a year earlier. A

Seasoned 'gim' exempt from US tariff