China News Service, February 9. According to Yonhap News Agency, South Korea’s Ministry of Industry, Trade and Energy released a message on the 9th that the World Trade Organization (WTO) issued an expert panel report on the 8th that the United States’ implementation of safeguard measures against Korean-made washing machines violated WTO rules. , ruled in favor of South Korea.
According to the report, the United States has implemented safeguard measures for large-scale household washing machines made in South Korea since February 2018.
This is actually a measure taken against Samsung Electronics and LG Electronics.
The South Korean government immediately protested against this, and in May of the same year, it appealed to the WTO, claiming that the U.S. practice of restricting imports violated WTO rules.
According to reports, the United States' trade protection measures include import quota restrictions on imported large household washing machines, 20% tariffs on imported laundry within 1.2 million units, and 50% import tariffs on the excess.
In the second and third years, the tariff rates levied on imported washing machines of less than 1.2 million units were reduced to 18% and 16%, respectively.
For the part exceeding 1.2 million units, the corresponding tariff rates are reduced to 45% and 40% respectively.
Since the measure has been extended for three years, it will enter its fifth year in February this year.
Therefore, imported laundry within 1.2 million units will be subject to tariffs of 14% to 30%, and tariffs of 0% to 30% will be levied on 130,000 parts.
As a rule, the report is deemed adopted between 20 and 60 days after the panel has submitted it for circulation to its members, unless a disputing party files an appeal, or the dispute settlement body unanimously opposes its adoption.
According to Korean media, the analysis believes that the successful outcome of this case is of great significance for correcting the abuse of safeguard measures in the United States.
However, domestic production in the United States is sufficient, so from the perspective of local companies, the positive impact of the judgment results is limited.
On the other hand, the dispute resolution process takes about a year, so the safeguard will apply as usual until February next year.
Experts believe that the United States is more likely to appeal.
As a result, the trade dispute between the two countries will continue.Keywords: