WTO awards S Korea $85m against US

GENEVA, Feb 10 (Reuters): South Korea can impose annual trade sanctions of $84.81 million on the United States after challenging US 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.

South Korea initially went to the WTO after a 2013 decision by the US Commerce Department to impose anti-subsidy duties of up to 82 per cent on washers made by Samsung Electronics Co, LG Electronics Inc and Daewoo Electronics Co, prompted by Michigan-based Whirlpool Corp.