KOTRA held a briefing on corporate strategies to respond to U.S. tariffs, China's export controls, and EU environmental regulations.
According to industry sources, KOTRA hosted the 'July Trade Environment Response Strategy Briefing and Consultation' at its headquarters in Seoul. The event attracted over 200 participants from export companies and related organizations.
This briefing was organized in light of the potential end of the U.S. global 10% tariff and the possibility of actions under Section 301 of the Trade Act. South Korea is included in investigations related to forced labor and structural overproduction.
The session addressed U.S. tariff policies, responses to China's export controls, and the EU's deforestation regulation. Strategies for managing global currency volatility and exchange rate risks were also key topics of discussion.
Experts advised that companies should not only focus on U.S. tariffs but also consider China's controls on rare earth elements and dual-use items, as well as the EU's supply chain due diligence obligations. With increased currency volatility, they emphasized the need for effective hedging and internal management systems.
As trade regulations expand from tariffs to technology, supply chains, and environmental standards, corporate responses are shifting from customs departments to encompass purchasing, production, and finance sectors.
KOTRA also provided one-on-one consultations with experts at the event. Customized consulting was offered on frequently asked topics such as U.S. tariff refund procedures and product classification.
Kim Kwan-mook, KOTRA's Vice President, stated, "Technology, energy, and supply chain security have emerged as key variables in the trade order. We will support companies' practical responses by utilizing information from overseas sites."
* This article has been translated by AI.
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