The United States will reduce import tariffs on South Korean vehicles to 15%, applied retroactively to November 1, according to Commerce Secretary Howard Lutnick on Tuesday.

He said the adjustment brings U.S. duties in line with the rates applied to Japan and the European Union.

The change stems from a trade deal the two nations announced last month and comes after South Korea introduced legislation to support its investment commitments in the U.S., Lutnick noted in a post on X.