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United Kingdom WTO gives S. Korea partial win in US oil pipe dispute
The World Trade Organization on Tuesday awarded a partial victory to South Korea in its dispute with the United States over anti-dumping tariffs on steel pipes used by the oil industry.
Seoul had in 2015 asked the WTO’s Dispute Settlement Body to resolve the complaint after direct talks with Washington failed to make headway.
The initial dispute followed a 2014 US decision to impose duties of up to 16 percent on South Korean steel pipes and tubes used for oil drilling.
Seoul argued that the US price calculation methodology was flawed.
While substantial parts of the South Korean complaint were dismissed, the DSB did agree that the US Commerce Department had in some cases used the wrong data and faulty methodology in calculating their duties.
Both sides have 60 days to appeal.
US President Donald Trump’s administration has threatened to ignore WTO rulings that harm American interests, although it is not yet clear to what extent such threats will be carried out.
The 162-member Geneva-based WTO aims to create a level playing field in global trade, although Trump’s trade envoys have claimed it has given unfair advantages to China at US expense.