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Japan – Countervailing Duties on Dynamic Random Access Memories from Korea (DS 336 and Corr.1, adopted 17 December 2007)*

  • MEREDITH A. CROWLEY (a1) and DAVID PALMETER (a2)
Abstract

This article analyzes the decision of the WTO's Appellate Body in the dispute between Japan and Korea over Japan's imposition of countervailing duties on DRAMs imported from Korea. The legal analysis comments on the analysis of evidence, the lack of remand authority in the WTO system, and the meaning of a ‘direct transfer of funds’. The economic analysis discusses several issues related to determining the magnitude of the benefit to a firm of a financial bailout and the appropriate duration of a countervailing duty to offset the injury caused by a non-recurrent subsidy. We offer legal and economic criticisms of the Appellate Body's conclusion regarding the relationship between subsidies and injury to the domestic import-competing industry. We conclude that the Appellate Body's decision weakens the requirement of a causal link between subsidies and injury and, consequently, may open the door to protectionist abuse of the Subsidies and Countervailing Measures Agreement.

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      Japan – Countervailing Duties on Dynamic Random Access Memories from Korea (DS 336 and Corr.1, adopted 17 December 2007)*
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      Japan – Countervailing Duties on Dynamic Random Access Memories from Korea (DS 336 and Corr.1, adopted 17 December 2007)*
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References
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Akerlof, George A. (1970), ‘The Market for “Lemons”: Quality Uncertainty and the Market Mechanism’, The Quarterly Journal of Economics, 84: 488500.
Bagwell, Kyle and Robert, W. Staiger (2006), ‘Will International Rules on Subsidies Disrupt the World Trading System?’, The American Economic Review, 96: 877895.
Conconi, Paola (2008), ‘Comment on “Japan – Countervailing Duties on Dynamic Random Access Memories from Korea”, by Crowley and Palmeter’, forthcoming in World Trade Review 2009:1, and in Horn, Henrik and Mavroidis, Petros (eds.), The American Law Institute – The WTO Case Law of 2006–2007: Legal and Economic Analysis, Cambridge: Cambridge University Press.
François, Joseph F. and David, Palmeter (January 2008), ‘US – Countervailing Duty Investigation of DRAMS’, World Trade Review, 7: 219229.
Grossman, Gene M. and Mavroidis, Petros C. (2003), ‘United States – Imposition of Countervailing Duties on Certain Hot-Rolled Lead and Bismuth Carbon Steel Products Originating in the United Kingdom: Here Today, Gone Tomorrow? Privatization and the Injury Caused by Non-Recurring Subsidies’, in Horn, Henrik and Mavroidis, Petros (eds.), The WTO Case Law of 2001 – The American Law Institute Reporters' Studies, Cambridge: Cambridge University Press, pp. 170200.
Grossman, Gene M. and Petros, C. Mavroidis (2005), ‘United States – Countervailing Measures Concerning Certain Products from the European Communities: Recurring Misunderstanding of Non-Recurring Subsidies’, in Horn, Henrik and Mavroidis, Petros (eds.), The WTO Case Law of 2002 – The American Law Institute Reporters' Studies, Cambridge: Cambridge University Press, pp. 7887.
Palmeter, David and Petros, C. Mavroidis (2004), Dispute Settlement in the World Trade Organization: Practice and Procedure, 2nd Edition, Cambridge: Cambridge University Press.
Prusa, Thomas J. (January 2008), ‘Comment on “US – Countervailing Duty Investigation of DRAMS”, by Francois and Palmeter’, World Trade Review, 7: 231234.
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World Trade Review
  • ISSN: 1474-7456
  • EISSN: 1475-3138
  • URL: /core/journals/world-trade-review
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