• Partial WTO win for SKorea in washing machine dispute with US

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    GENEVA: The World Trade Organization (WTO) over the weekend ruled partially in favor of South Korea in its dispute with the United States over duties Washington imposes on imported washing machines. The case centred on the Unites States’ right to use tariffs to guard against so-called “dumping”, where an imported product is sold at cut-rate prices by a foreign producer, possibly to gain market share. The United States claimed, in part, that subsidies given by the South Korean government to one producer — Samsung — helped keep the prices of some machines artificially low. South Korea challenged Washington’s math and argued that the duties violated trade agreements signed by both nations.

    AFP

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