South Korea to suspend tariff concessions on US products: WTO

South Korea notified on Friday the World Trade Organization (WTO) that it decided to suspend "substantially equivalent" concessions and other obligations to a worth 480 million dollars US trade in response to US safeguard measures against imported solar cells and residential washers.

US President Donald Trump slapped a steep tariff on imported washing machines and solar panels in February to protect what he said American manufacturers, prompting a fierce backlash from countries including South Korea.

(REUTERS & ASIA PACIFIC DAILY)