US appeals WTO report on S. Korea's steel, transformers tariffs

The US has appealed a World Trade Organization's panel report that it violated rules in imposing high tariffs on South Korean steel and power transformer products.

The WTO's Dispute Settlement Body had canceled the meeting on Friday to adopt the panel report due to the US appeal.

The US has been applying the "adverse facts available" (AFA) provision since May 2016 in imposing tariffs of 9.49 percent to 59.72 percent on South Korean steel products, and 60.81 percent on electrical transformers.

The provision allows the imposition of very high anti-dumping and countervailing tariffs if an accused company fails to provide the data demanded by authorities.

South Korea, which filed the lawsuit with the WTO in February 2018, said the decision would help prevent the unlawful application of the AFA provisions.