Sunday, January 25, 2015

Korean complaint unreasonable profit calculation of American steel anti-dumping case

Recently, the South Korean Ministry of Industry and Trade said that the US Department of Commerce at the time of investing the Korean steel pipe anti-dumping, including the calculation of dumping profits, may be in violation of WTO guidelines. So Korea thereon to lodge a complaint to the WTO, if South Korea wins the case, the US obliged to revise its anti-dumping duties behavior.
US Department of Commerce in July said it would import products from Hyundai Hysco 15.75% levy tariffs, Nexteel product rate is 8.89%, and all other Korean companies, including World- Asian steel products and Husteel(welded steel pipe and seamless steel pipe) tax rate of 12.82%.
In 2013, South Korea exported $ 818 million oil industry pipe to the US, more than other countries involved total exports in this case.
Despite complaints to the WTO, the United States and South Korea can still resolve the dispute through negotiations. If negotiations fail, the Republic of Korea can ask WTO to set up a special team to review the case.

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