Israel, South Korea FTA to Slash Tariffs on Certain Electronics, Semiconductor Equipment
Israel and South Korea earlier this month signed a free trade agreement, marking the first trade deal between South Korea and a Middle Eastern country, the Hong Kong Trade Development Council reported May 21. The agreement will reduce tariffs and…
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eliminate duties on certain manufactured goods and electronics, including cars, phones, machinery, chemicals and plastics. The report said that more than 95% of each country’s exports won’t be subject to tariffs, including shipments of semiconductor manufacturing equipment from Israel to South Korea.