이 누리집은 대한민국 공식 전자정부 누리집입니다.
Biz News Korea(Eng)
- Collected
- 2019.07.31
- Distributed
- 2019.08.01
- Source
- Go Direct
Seoul is mulling punitive tariffs of up to $350 million annually on certain types of U.S goods after Washington has failed to comply with a World Trade Organization (WTO) ruling, ordering to correct unfair levies on South Korean steel oil pipes.
According to its filing to the WTO, Seoul reminded that Washington has missed its July 12 deadline to fix the unfair levies on oil country tubular goods (OCTG) in a 2014 litigation it partly won.
Korea will impose punitive tariffs on certain type of goods in the amount of $350 million annually and announce the item at a later date.
The U.S commerce department in July 2014, levied from 9.9 percent to 15.8 percent anti-dumping duties on OCTG imports from Korea. The tariff was raised further up to maximum 29.8 percent after a review in April 2017. Korea exported $818 million worth of OCTG to the U.S. in 2013, benefiting from shale gas boom.
Korea took the matter to the WTO in December 2014. The WTO’s dispute settlement body delivered a partial victory to Korea in November 2017, finding faults in way the U.S commerce department calculated tariffs applied to Korean OCTG. The U.S. had until July to comply with related ruling.
By Sohn Il-seon and Cho Jeehyun
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