Korea Seeking WTO Authorization for $350 Million Retaliation Against US

A World Trade Organization arbitrator will review Korea's request to impose tariffs on $350 million worth of U.S. imports because Korea claims the U.S. did not comply with a WTO ruling on antidumping for oil country tubular goods (see 1711140008). The U.S. said Aug. 9 that the level of retaliation is too high. Korea lost most of its claims in the original 2014 case, and the Commerce Department said it complied with the findings regarding profit determinations.