P.M. BRIEFING : Seoul Warns U S. on Trade Curbs

South Korea dismissed U.S. allegations of unfair trading practices as “incorrect” today and warned that trade ties would be seriously harmed if Washington put Seoul on a sanctions list.

Trade Minister Han Seung Soo told reporters the annual U.S. review of foreign trade obstacles released last week lacked objectivity and failed to take fully into account Seoul’s recent steps to open its markets.

The report, which gave a glimpse of which countries could find themselves targeted for U.S. trade sanctions later this month, named South Korea, Japan, Taiwan and Brazil.

“Considerable portions (of the report) are incorrect,” Han said. “Some statements are different from fact and others cite figures whose bases are not clear.”

Han suggested South Korea could retaliate through the General Agreement on Tariffs and Trade, a pact which seeks to regulate world trade, if the United States imposed sanctions.