🇰🇷 South Korea vs 🇵🇪 Peru Tariffs — Import Duty Comparison (2026)

🇰🇷

South Korea

Section 122 Rate10%

Section 301N/A

Section 232 (Metals)Exempt

Trade AgreementKORUS

Trade Volume$169B

Base Effective Rate10%

🇵🇪

Peru

Section 122 Rate10%

Section 301N/A

Section 232 (Metals)50%

Trade AgreementUS-Peru TPA

Trade Volume$18B

Base Effective Rate10%

🇰🇷 South Korea Advantages

+Exempt from Section 232 steel/aluminum tariffs
+Higher US trade volume ($169B vs $18B)
+Unique export categories: Motor vehicles, Semiconductors, Machinery

🇵🇪 Peru Advantages

+Unique export categories: Gold, Copper, Zinc

When choosing between South Korea and Peru as import sources, US businesses must weigh tariff rates, trade agreements, product availability, and supply chain logistics.

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

These countries have largely distinct export profiles to the United States, serving different market segments.

In terms of trade volume, South Korea accounts for approximately $169B in bilateral trade with the US, exceeding Peru's $18B.

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; Higher US trade volume ($169B vs $18B); Unique export categories: Motor vehicles, Semiconductors, Machinery. Peru's advantages include: Unique export categories: Gold, Copper, Zinc.

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

Frequently Asked Questions

Which has lower tariffs — South Korea or Peru?

Both countries face the same base Section 122 tariff of 10%. The difference comes from product-specific duties, Section 301 (China only), and Section 232 (metals).

Should I switch sourcing from South Korea to Peru?

The decision depends on more than tariff rates. Consider total landed cost (shipping, insurance, customs fees), lead times, quality standards, minimum order quantities, and supply chain reliability. With equivalent base rates, focus on non-tariff factors.

Do both South Korea and Peru face the same Section 122 tariff?

Yes, both countries are subject to the 10% Section 122 tariff imposed on February 24, 2026. This flat rate replaced the variable IEEPA tariffs struck down by the Supreme Court. It expires approximately July 24, 2026.

What products overlap between South Korea and Peru exports to the US?

Both countries export various products to the US. South Korea has total bilateral trade of ~$169B while Peru has ~$18B.