미국 환율보조금 상계관세 규정의 국제법적 검토 : 베트남산 타이어 상계관세 사건을 중심으로

As global supply chain restructuring and economic security discussions intensify, major countries are strengthening policies to protect their domestic industries. Against this backdrop, the United States amended its countervailing duty regulations in 2020 to address the issue of “currency undervaluation” by trading partners, which has long been identified as a major cause of US trade deficits, incorporating exchange rate matters into the framework of its domestic trade remedy system. This study aims to analyze the specific content of the US currency undervaluation subsidy regulation and examine its international trade law implications through actual cases to derive implications for Korea. It first analyzes the judgment criteria for “specificity” and “benefit”, which are core requirements under the amended regulation. It then comprehensively examines the “Passenger Vehicle and Light Truck Tires (PVLT) from Vietnam” case, where the regulation was first applied. In this case, the US Department of Commerce imposed countervailing duties after determining that Vietnam's currency was undervalued. However, Kumho Tire Vietnam (KTV) filed a lawsuit with the US Court of International Trade (CIT) in opposition. The CIT found that the Department of Commerce had the legal authority to countervail currency undervaluation and remanded the case, requiring additional explanations regarding certain aspects of specificity and benefit. Nevertheless, the court did not find the currency undervaluation subsidy regulation itself to be illegal. Based on this case analysis, this study evaluates whether the amended US countervailing duty regulation meets the requirements under the WTO Agreement on Subsidies and Countervailing Measures (ASCM). The analysis confirms that while currency undervaluation subsidies may constitute financial contributions, they are likely to be inconsistent with the ASCM in terms of their benefit and specificity requirements. With the strengthening of protectionist policies following the inauguration of the second Trump administration, this study suggests strategic approaches for Korea in preparation for the potential reactivation of currency undervaluation subsidy regulations. The Korean government should enhance transparency in its exchange rate policies to prepare for potential countervailing duty investigations related to currency undervaluation subsidies, while companies should systematically manage risks associated with such subsidies and proactively respond to changes in the international trade environment. In the rapidly changing international trade environment, this study is expected to contribute to strengthening the strategic response capabilities of the Korean government and companies by providing a systematic understanding of currency undervaluation subsidy issues.