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Electronics Production | June 21, 2005

WTO puts pressure on EU

After South Korea's complaints against EU's countervailing duties on Hynix's imported DRAMs WTO now tells EU to bring its countervailing duties into "conformity".
The South Koreans wanted the countervailing duties to stop immediately but WTO did not go that far and just told EU to reconsider its duties. The duties shall be corrected within about a month. EU has at this moment a tariff of 33 percent on Hynix's imported DRAMs. This could be compared to the same kind of countervailing duties in the US which are at 44.7 percent.
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