ITC launches investigation into truck tariff modifications in KORUS

The U.S. International Trade Commission on Thursday initiated an investigation into proposed modifications to the U.S.-Korea Free Trade Agreement “regarding the staging of customs duties for certain motor vehicles.” Last week U.S. Trade Representative Robert Lighthizer asked the ITC to advise USTR on the “ probable economic effect of the modifications ” made to tariff phaseouts on Korean truck imports under the amended KORUS pact the countries agreed to in principle last month. The scope of the Lighthizer's request to...