WTO To Examine Three Trade Disputes

01/04/2015 12:00 - 602 Views

On March 25, 2015, the World Trade Organization (WTO) Dispute Settlement Body (DSB) established panels to study three separate complaints related to trade-restrictive tax measures imposed by the European Union, Russia, and the United States.

One of the panels will examine a complaint brought by Pakistan against the EU over countervailing measures imposed on polyethylene terephthalate (PET). The EU has defended the measures, saying that they were imposed on the grounds that imports of PET from Pakistan were receiving trade distorting subsidies and had caused injury to the European PET industry.

The second panel will mediate in a dispute between the EU and Russia over the tariff treatment Russia applies to certain agricultural and manufacturing goods. The EU noted that, despite efforts to find a solution with Russia, the measures remain in place and continue to hamper trade.

The third panel will study a complaint submitted by South Korea over anti-dumping duties imposed by the US on certain oil country tubular goods from South Korea. According to South Korea, the measures are inconsistent with the US obligations under the Anti-Dumping Agreement and the General Agreement on Tariffs and Trade (GATT) 1994. The US said that its actions are fully consistent with its obligations under WTO agreements and said it is ready to engage in the proceedings and explain to the panel that Korea had no legal basis for its claims.

Source: Tax-news