The US Department of Commerce will lower the dumping margin rate on Korean stainless steel plates and stainless boards to 6.08% and 2.49% respectively, beginning in September, the Ministry of Foreign Affairs and Trade (MOFAT) has said. The reduction follows the WTO panel’s decision that the US government’s measure against Korean steel exporters in February of this year was in violation of the WTO agreement. In February 1999 the US government had set the dumping margin rate on Pohang Iron & Steel’s stainless steel plates and stainless boards at 16.26% and 12.12% respectively. The Korean company disagreed with this decision and took the case to the WTO panel in July.
