business

WTO largely backs Japan over South Korean steel duties

6 Comments

The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.

© Thomson Reuters 2020.

©2021 GPlusMedia Inc.

6 Comments
Login to comment

WTO is pretty much a toothless organization anyway.

China and Vietnam keep openly cheating on trade and manipulating their currencies. India still maintains insane level of trade protectionism. Europe and the US keep maintaining subsidies for their farmers, and selectively tariff certain agricultural products. Of course, South Korea pulls a trade war on Japan, and Japan does the same thing vice versa.

1 ( +1 / -0 )

Well South Korea is as lawless as a democratic country can get, so they are going to dispute the Verdict to drag out the Japan bad in this steel case too.

1 ( +3 / -2 )

The case is among the smaller ones being handled by the WTO, covering less than $4 million of annual exports, South Korea said, although it is now part of a broader trade conflict between the two.

A win is a win. This will get sweeped under the rug in South Korea, or spun into a pseudo-victory on the grounds of the appeal. They will lose that too, because:

A three-person WTO panel said South Korean investigating authorities had not been objective in evaluating the consequence of the drop in Japanese prices from removing duties and in rejecting certain data submitted by Japanese producers.

In other words, South Korea not able to give due respect to the claim against them because they know they are in the wrong. A last-round pathetic final jab at Japan to show them they aren't apologetic.

0 ( +2 / -2 )

WTO is pretty much a toothless organization anyway

Only recently and only because the current US administration chose to gut its leadership and flaunt its rules. That changes soon.

0 ( +0 / -0 )

"That changes soon"

Are you sure about that? Trump and Biden administrations will not have completely divergent views on trade (IMHO).

In any case WTO is these days more involved in resolving disputes among member countries than in trade negotiations and trade liberalization which was its original mandate. Countries are increasingly bypassing WTO and making their own trading agreements.

I agree with the original poster Septim that WTO has outlived its utility in the current scenario where China follows WTO rules only when it suits them and US refuses to discuss agricultural reforms and continues to subsidize its farmers.

0 ( +0 / -0 )

South Korean investigating authorities had not been objective in evaluating...

Noooo! Never could've imagined... No wonder they're afraid of neutral 3rd parties ruling about the other problems they maintain with Japan.

-1 ( +0 / -1 )

Login to leave a comment

Facebook users

Use your Facebook account to login or register with JapanToday. By doing so, you will also receive an email inviting you to receive our news alerts.

Facebook Connect

Login with your JapanToday account

User registration

Articles, Offers & Useful Resources

A mix of what's trending on our other sites