South Korea asks WTO for $700 million trade sanctions over U.S. non-compliance

GENEVA (Reuters) – South Korea has asked the World Trade Organization for authorization to impose annual trade sanctions worth at least $711 million on the United States, a filing published by the World Trade Organization showed on Friday.

South Korea said the United States had failed to comply with a WTO ruling over U.S. anti-dumping and anti-subsidy duties on South Korean washing machines, and therefore it wanted to impose penalties on U.S. trade to get compensation.

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