"South Korea has the highest average tariff rate on food products in the world, according to the World Trade Organization (WTO) on July 4. When assessed by trade-weighted items, the rate nears 90%, sparking calls for long-term tariff reduction to stabilize prices.
WTO statistics show that South Korea’s simple average tariff rate on agricultural products stood at 57% in 2022, the highest among 138 countries. This rate was nearly 20 percentage points higher than second-ranked Turkmenistan (41.6%) and third-ranked India (39.6%)."
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"South Korea has the highest average tariff rate on food products in the world, according to the World Trade Organization (WTO) on July 4. When assessed by trade-weighted items, the rate nears 90%, sparking calls for long-term tariff reduction to stabilize prices.
WTO statistics show that South Korea’s simple average tariff rate on agricultural products stood at 57% in 2022, the highest among 138 countries. This rate was nearly 20 percentage points higher than second-ranked Turkmenistan (41.6%) and third-ranked India (39.6%)."
- The Chosun Daily, Park So-Jeong & Lee Jae-eun
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