Legal Implications of U.S. CVD on Tires and Undervalued Currency in the WTO's SCM

• 영문명: Legal Implications of U.S. CVD on Tires and Undervalued Currency in the WTO's SCM
• 발행기관: 한국무역학회
• 저자명: Thi Thanh Tuyen Nguyen 주선 최창환
• 간행물 정보: 『Journal of Korea Trade (JKT)』Vol.27 No.5, 41~62쪽, 전체 22쪽
• 주제분류: 경제경영 > 무역학
• 파일형태: PDF
• 발행일자: 2023.10.31

영문 초록

Purpose - This paper examines whether the imposition of countervailing duties by the United States on undervalued foreign currency is legally consistent with the WTO's SCM Agreement. Design/methodology - The study uses a methodology that involves analyzing relevant WTO agree- ments, prior panel reports, Appellate Body decisions, and other legal documents. Findings - The findings suggest that to impose countervailing duties, certain legal requirements must be met, including financial contribution, benefit, and specificity. The paper also notes that when calculating the benefits of undervalued foreign currency, losses from import activities due to currency undervaluation must be considered. Additionally, classifying all exports to the US under specific industries or business groups is likely to be inconsistent with the SCM Agreement. Originality/value - Even the US countervailing measures on exchange rate subsidies may not comply with WTO regulations due to incorrect calculation of benefits and a lack of specificity, however, it suggests that when intervening in the foreign exchange market, the measures should aim to achieve only minimum policy goals.

목차

1. Introduction

2. Literature Review

3. Exchange Rate Assessment Methodology Review

4. Legal Analysis for US Measure Consistency with SCM

5. Conclusion

References

키워드

Countervailing duty SCM Agreement Currency manipulation Specificity