Tokyo, Oct. 30 (Jiji Press) — The World Trade Organization set up a panel for settling a dispute over South Korea’s antidumping duties on stainless steel bar imports from Japan, the Japanese government has said.
Japan filed a complaint with the WTO against South Korea in June this year, arguing that there were problems under WTO rules with the procedures Seoul took to introduce the tariffs.
In July 2004, South Korea imposed antidumping duties of some 15 pct on stainless steel bars from Japan, based on a claim that they were shipped at unfairly low prices. The duties have been renewed three times since then.
In demanding South Korea withdraw the duties, Japan insists that there is no competitive relationship between the two countries’ products and that a price decline in South Korea cannot be solely attributed to Japanese products.
Stainless steel bars, highly resistant to corrosion and heat, are processed into valves for automobiles and industrial machinery and other products.
It is expected to take about a year until the panel issues a ruling. Tokyo and Seoul can file an appeal against the panel ruling with the WTO’s Appellate Body.