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Culture Convergence (CC)

A Study on the Substantial impact of US high rate tariff policy on the Korean companies - Based on analysis of Article 301 of the US Trade Law -

원문정보

초록

영어

Recently, the United States and China have declared a 25% retaliatory tariff for the partner country products of 50 billion dollar scale. "Trade war" is getting full swing. Such conflicts between economic powers may spread to Japan like the domino phenomenon following the EU (European Union) and become bigger in the global trade war. As a result, Korea has an economic system with a high degree of external dependence, and there is an expert's analysis that it will become the largest victim of the global trade war. If the WTO Dispute Settlement Authority approves this US 301 retaliation measure in the same way as the past case (US-EU hormone-treated beef imports), the United States will not import any Chinese imported products Chinese products) can be imposed. If the US launches a special 301 or super 301, which is stronger than the regular 301, then China is very likely to enforce US retaliation against it, and the trade war between the two countries could become a reality. This phenomenon is likely to have a negative impact on Korean companies. In particular, Korea, which is highly reliant on intermediate goods exports to China, is expected to suffer a great deal of damage. Therefore, Korea needs flexible response at home and abroad, it is necessary to enhance the autonomy of companies and protect export industries. Adjusting corporate tax rate as well as domestic industry height will be one way. The longterm (21 months) trade war between the United States and China has resulted in economic uncertainty. The resulting damage must be compensated. It is necessary to prepare the compensation through the economic council between countries. In the future, the punitive damage compensation system should be introduced.

목차

Abstract
1. INTRODUCTION
2. US protection and trade measures
2.1. President Trump's protective means of trade, Article 301 of the US Trade Law
2.2. General 301 set
2.3. Super 301 set
2.4. Special 301 set
2.5. Limit of Article 301
3. WTO LEGALITY OF ARTICLE 301 OF THE TRADE ACT
3.1. Regulations of the US Trade Act and related WTO agreements
3.2. Analysis of US Trade Law
3.3. Analysis and consideration
4. IMPACT ON KOREAN COMPANIES
4.1. Negative impact on our business
4.2. Dependence of Korean companies on China's economy
4.3. Future measures
4.4. small conclusion
5. CONCLUSION
REFERENCE

저자정보

  • Seon Mo Nam Dept. of Law, Semyung university, Korea

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