WTO rules against Argentina's import restrictions

The World Trade Organization concluded Friday that a series of import restrictions by Argentina violate international trade rules, backing the arguments of Japan, the European Union and the United States.

Argentina's protectionist measures include one that requires firms, when they seek to import foreign products, to export the same amount of Argentinian-made products. A variety of goods such as automotive parts, medical equipment and food products are subject to it, according to the Japanese trade ministry.

The import restrictions were introduced following the 2008 economic crisis triggered by the collapse of U.S. investment bank Lehman Brothers Holdings Inc. The European Union took its case against Argentina to the WTO in May 2012, and Tokyo and Washington followed suit in August the same year.

Argentina may appeal the WTO decision within 60 days.