WTO sentenced South Korea v. US oil well pipe anti-dumping part of the victory

According to the Korean nation reported on November 15, South Korea's Ministry of Industry, Trade and Resources said the WTO Panel of Experts ruled that the United States in 2014 South Korea oil well pipe collection of anti-dumping duties in violation of the WTO agreement report on the 14th local time began to be publicly circulated. The panel believes that when the United States estimates the dumping margin of oil wells in South Korea, it violated the WTO agreement by using the high profit margin of multinationals to replace the profit margin of South Korean companies due to the low sales volume in South Korea. However, The process of "did not consider the export price of a third country, did not provide sufficient time to reply" and other controversial focus, then did not agree. South Korea's Ministry of Industry, Trade and Resources said it would conduct legal analysis of the dispute with industry experts to decide whether to appeal. 

The Ministry of Industry, Trade and Industry of Korea explained that under the WTO rules, the parties to the dispute should decide whether to appeal within 60 days after the report of the panel's ruling is circulated. In view of the fact that the Panel ruled that the United States has calculated the margin of dumping by mistake, even if the above decision finally landed, it did not mean that the United States canceled the anti-dumping duty but re-calculated the extent of dumping of Korean products to the United States in accordance with the WTO agreement. If the value is less than 2%, the dumping is not established, not to file a case investigation; if more than 2%, will impose a corresponding level of anti-dumping duties.   Korea's Ministry of Industry, Trade and Resources said the WTO ruling will help curb the trend of trade protectionism proliferation and at the same time provide other countries unfairly bound with a good reference for settling disputes through the WTO.   It is reported that in July 2014, the U.S. Department of Commerce decided to impose an anti-dumping duty of 9.9% -15.8% against South Korean companies such as Hyundai Steel and further raise the anti-dumping duty to 29.8% during the annual review in April this year. Due to the unsuccessful bilateral negotiations between South Korea and the United States, South Korea filed a lawsuit with the WTO in December 2014 to start the WTO dispute settlement process.

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