🇰🇷 South Korea vs 🇲🇽 Mexico Tariffs — Import Duty Comparison (2026)

South Korea and Mexico are both significant US trading partners, but their tariff profiles differ in important ways that affect import costs.

Both countries face the same base tariff rate of 10% on most goods entering the United States.

Both countries export Motor vehicles, Auto parts to the United States, creating direct competition in these sectors.

In terms of trade volume, South Korea accounts for approximately $169B in bilateral trade with the US, compared to Mexico's $779B.

Both countries are subject to the 10% Section 122 tariff imposed on February 24, 2026, following the Supreme Court's ruling striking down IEEPA tariffs. This rate expires approximately July 24, 2026 unless Congress extends it.

South Korea's advantages include: Exempt from Section 232 steel/aluminum tariffs; Unique export categories: Semiconductors, Machinery, Petrochemicals. Mexico's advantages include: Higher US trade volume ($779B vs $169B); Unique export categories: Computers, Electrical machinery, Medical instruments.

With equivalent base tariff rates, the choice between South Korea and Mexico depends primarily on product-specific duties, shipping costs, lead times, and supply chain considerations rather than the base tariff rate.