South Korea to suspend tariff concessions on US products: WTO

GENEVA - South Korea notified the World Trade Organization (WTO) on Friday the proposed suspension of tariff concessions on some imported products of the United States, in response to US safeguard measures against imported solar cells and residential washers, according to WTO official documents.

South Korea notified WTO Council for Trade in Goods that it has decided to suspend substantially equivalent concessions and other obligations under the General Agreement on Tariffs and Trade 1994 to the trade of the United States.

The United States decided in January to impose tariffs of up to 50 percent on imported washers for the next three years, and up to 30 percent on solar cells and modules for the next four years.