WTO Industrial Subsidy Regulation: US-EU-Japan Joint Statement of January 2020 and Afterwards

Cheon-Kee Lee ()
Additional contact information
Cheon-Kee Lee: Korea Institute for International Economic Policy, Postal: Building C, Sejong National Research Complex, 370, Sicheong-daero, Sejong-si,Korea, http://www.kiep.go.kr/index.do

No 20-10, World Economy Brief from Korea Institute for International Economic Policy

Abstract: On 14 January 2020 the United States, the European Union, and Japan (hereinafter referred to as “US-EU-Japan”) issued a trilateral joint statement, proposing a set of new rules to strengthen WTO regulation on industrial subsidies. While a total of seven joint announcements have been made so far, this is the first time that three WTO Members have presented specific ideas on how to amend existing subsidy rules. Many of the proposed amendments seem to primarily target China’s trade policy and practices. Among the six amendment items proposed in the Joint Statement, it seems that the United States is paying particular attention to the sixth item, i.e. in making explicit the possibility of using the out-of-country benchmark and on introducing necessary requirements to do so in measuring the benefit conferred and, ultimately, in calculating the amount of the countervailing duties (CVDs). Against this backdrop, in this Brief the author analyzes the relevant WTO provisions and GATT/WTO jurisprudence, and discusses various scenarios on future negotiations on WTO Reform on industrial subsidies.

Keywords: WTO; US; EU (search for similar items in EconPapers)
JEL-codes: A10 (search for similar items in EconPapers)
Pages: 5 pages
Date: 2020-04-16
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.kiep.go.kr/gallery.es?mid=a10105040000 ... ist_no=5092&cg_code= Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ris:kiepwe:2020_010

Access Statistics for this paper

More papers in World Economy Brief from Korea Institute for International Economic Policy [30147] 3rd Floor Building C Sejong National Research Complex 370 Sicheong-daero Sejong-si, Korea. Contact information at EDIRC.
Bibliographic data for series maintained by Geun Hye Son ().