South Korea drags U.S. to WTO for imposing steep tariffs on its exports of washing machines and solar panels.
On Monday, South Korea dragged the United States to the World Trade Organization (WTO) saying the imposition of hefty tariffs by the Trump Administration on its washing machines and solar panels are in violations of its bilateral WTO agreement.
In a statement, South Korea’s Ministry of Trade, Industry and Energy said it has delivered its request for bilateral consultation to the U.S. side to start a dispute settlement process.
In February U.S. President Donald Trump slapped steep tariffs on South Korean exports of solar panels and washing machines so as to protect U.S. manufacturers of the said goods.
In April, South Korea said it notified its plan to suspend tariff concessions on imported U.S. goods worth $480 million following U.S. tariff measures against South Korean imports.
South Korea’s Ministry of Trade, Industry and Energy stated it will respond firmly to unfair import restrictions taken by its major trading partners against South Korean companies.