Fasten your seatbelts: Seoul faces American sanctions on car imports

Article Abstract:

US and European officials are both complaining about South Korea's high barriers to auto imports, though the Europeans are avoiding the US' confrontational approach. Seoul imposes an 8% import tariff on autos, with the auto excise tax calculated afterwards. It also uses complex certification procedures that foreign companies say are designed to exclude them. They also point to a history of government efforts to discourage South Koreans from buying foreign-made cars. The US may impose sanctions and complain to the World Trade Organization.

Political aspects, Tariffs

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Start your engines

Article Abstract:

South Korea has responded to internal and external criticism by relaxing restrictions on sales of foreign cars but observers say the changes are largely cosmetic. As of Jan 1 Seoul lowered tariffs from 10% to 8%, cut taxes on luxury vehicles from 15% to 2%, ended the ban on TV ads for foreign cars, and dropped its policy of harassing buyers with tax audits. Still, few expect foreign car sales to rise past 30,000 by 2000; 1.6 million cars were sold in the country in 1994, 3,866 of them foreign.

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Playing the game: some win, some lose as Australia opens car market

Article Abstract:

Australia's lower tariffs on auto imports have realigned the domestic industry while benefitting many importers, raising their share of the market to 38% in 1994. The scheme, introduced in 1985 with tariffs at 57.5%, has them at 27.5% now and lowers them 2.5% annually with a 15% goal for 2000. The pressure that introduces forced Nissan to close local operations in 1992 and has Ford threatening to pull out after 2000, though analysts say it has too much invested to do so.

Australia

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