WTO awards South Korea $85 million against U.S. over washing machine tariffs

[Eugene]

Source: Reuters

BUSINESS NEWS FEBRUARY 8, 2019 / 10:43 AM / UPDATED 19 MINUTES AGO

GENEVA (Reuters) - South Korea can impose annual trade sanctions of $84.81 million on the United States after challenging U.S. anti-dumping and anti-subsidy tariffs on washing machines, a World Trade Organization arbitration panel ruled on Friday.

The sum was much less than the $711 million that South Korea had asked for, but the arbitration ruling also provided a sanctions formula for South Korea to apply in the future, in case the United States imposes similar tariffs on other products in breach of the WTO rules.

Reporting by Tom Miles; Editing by Robin Pomeroy


Read more: https://www.reuters.com/article/us-usa-trade-southkorea-wto/wto-awards-south-korea-85-million-against-u-s-over-washing-machine-tariffs-idUSKCN1PX1PY

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Short article. No more at link.

[Major Nikon]

1. This is the inevitable outcome of Trump's fucked up trade war

The end result will be irreparable damage to US commerce. At least the wingnut rubes who always think there's easy answers to complicated problems will have their red meat.

[mr_lebowski]

2. YUP! (nt)

[PoliticAverse]

5. Trump wasn't President in 2013. n/t

[Major Nikon]

6. Obviously, and this particular ruling is peanuts in the big scheme of things

It just demonstrates that tariffs imposed without basis will be eventually challenged and won in an impartial court from which the US has no control. Almost certainly this will play out after Trump is long gone, but the damage is being created now.

[scarytomcat]

3. he thinks he can do what ever he want

he has no idea what is going on in the world or the stupid agreements we have made in the past
I'm sure nobody could have told him or they did and he didn't care
Great Leadership

[hot2na]

4. So much winning.

Im really getting tired of all the winning, just like Trump said.