14:50 GMT +313 December 2018
Listen Live
    A person gets out of the World Trade Organization (WTO) headquarter in Geneva (File)

    S Korea Files Trade Complaint to Challenge US Anti-Dumping Duties - Reports

    © AFP 2018 / FRED DUFOUR
    Asia & Pacific
    Get short URL
    0 50

    South Korea has launched a large-scale complaint with the World Trade Organization to challenge the US use of anti-subsidy and anti-dumping duties, citing their use in steel and other sectors, a WTO filing showed on Tuesday.

    "Korea has requested WTO consultations with the United States concerning the use of ‘facts available' by US investigating authorities in anti-dumping and countervailing investigations," The World Trade Organization (WTO) said in a press release on Tuesday.

    Countervailing duties are trade import duties introduced under WTO rules intended to neutralize the negative effects of subsidies. Such duties are imposed after an investigation finds that a foreign country subsidizes its exports, impacting the importing country's producers.

    Under the Tariff Act of 1930, US industries may forward a petition for relief from imports that are sold at less than fair value in the United States or which benefit from subsidies provided through foreign government programs, according to the US International Trade Commission.

    South Korea has challenged the US law, as well as regulations that allow the Commerce Department to use adverse facts in its anti-dumping and countervailing investigations, especially against certain products from South Korea, the release said.

    READ MORE: DPRK Not Ruling Out Co-Hosting Asian Games With South Korea in 2021 — Reports

    The United States has 60 days to settle the issue, after which South Korea may ask the WTO to arbitrate. However, if talks fail then the complaint may request judicial hearing by a panel.

     

     

    Related:

    Canada Launches Trade Dispute Against US in WTO, Washington Strikes Back
    Indian Expert Blames US for WTO Stalemate
    DPRK Not Ruling Out Co-Hosting Asian Games With South Korea in 2021 - Reports
    DPRK Media Denounces US Plans to Resume War Games With South Korea
    Tags:
    import duties, trade, World Trade Organization (WTO), United States, South Korea
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik