With confirmation that the United States has exempted Korean seasoned seaweed from the tariff, exports of seaweed to the U.S. are expected to gain further momentum. Analysts say price competitiveness will improve significantly as the existing 15% tariff in the U.S., the largest overseas market, has been reduced to 0%.
The Ministry of Oceans and Fisheries said on the 14th that a fact sheet on the reciprocal tariff released by the White House in November specified seasoned seaweed as the only duty-free item among seafood. Accordingly, seasoned seaweed has been exported to the United States without a tariff since the 13th of last month, based on the customs clearance date.
However, dried seaweed remains subject to the 15% reciprocal tariff like other seafood. The Ministry of Oceans and Fisheries (MOF) plans to pursue consultations with the U.S. side to obtain tariff exemptions for dried seaweed and tuna fillets as well.
Seasoned seaweed is the only K-food export item that received a tariff benefit in the United States. Despite the reciprocal tariff imposed by the Trump administration this year, exports of seaweed to the U.S. from January to November reached $228 million, up 15.9% from the same period a year earlier. In particular, November exports rose 25.2% to $24.5 million, outpacing the cumulative growth rate. Seasoned seaweed accounts for more than 90% of seaweed exported to the United States.
The industry expects the tariff exemption to lead to increased sales and improved profitability. After the reciprocal tariff was imposed this year, prices rose in the U.S. market, creating burdens, but those burdens will disappear.
The United States is a key market, accounting for more than 20% of Korea's seaweed exports. From January to November this year, Korea's seaweed exports totaled $1.04 billion, up 13.3% from a year earlier. On an annual basis, they surpassed $1 billion for the first time. The Ministry of Oceans and Fisheries (MOF) projected that this year's seaweed exports will exceed $1.1 billion.