South Korea were sold below cost

South Korea were sold below cost The U.S. method used to work out import duties on Korean products such as thin stainless-steel sheets, heavy steel plate and a cutting tool containing diamond illegally inflates tariffs, the World Trade Organization ruled.

The calculation, called “zeroing,” enables the U.S. to maximize customs duties by selectively excluding some market price data. The U.S. used the methodology to work out whether imports from South Korea were sold below cost, or dumped, on the domestic market.

The U.S. “acted inconsistently” with trade rules, WTO judges in Geneva said in their 17-page report.