South Korea asks WTO for $700 million trade sanctions over U.S. non-compliance


South Korea has asked the World Trade Organization (WTO) for authorization to impose annual trade sanctions worth at least $711 million on the United States, a filing published by the World Trade Organization showed on Friday.

South Korea said the United States had failed to comply with a WTO ruling over U.S. anti-dumping and anti-subsidy duties on South Korean washing machines, and therefore it wanted to impose penalties on U.S. trade to get compensation.

Agency Report