USTR
The U.S. Trade Representative (USTR) is holding public hearings this week in Washington on its Section 301 investigations—launched in March into South Korea, China, Japan, the European Union and 13 others—over structural excess capacity in manufacturing. The hearings could lead to tariffs or other measures. A South Korean official presented Seoul's position on the opening day.
Iniulat ng AI
The U.S. Trade Representative's Office said South Korea, Brazil, Singapore, and Costa Rica maintained their self-declared developing country status at the WTO despite pledging to forgo special treatment. The report was released on the eve of a WTO ministerial conference in Yaounde, Cameroon. It reiterated calls for WTO reform toward reciprocity and balance.