US Slaps Duties on Korean Power Transformers

03/03/2012 12:00 - 408 Views

The US Department of Commerce has announced the introduction of anti-dumping duties following an investigation into South Korean large power transformers.

Announcing its 'affirmative preliminary determination', the Department said the mandatory respondents Hyosung Corporation and Hyundai Heavy Industries Co, Ltd. are to be subject to anti-dumping rates of 38.07% and 21.79%, respectively, consistent with the margin established by the Department's investigation. All other Korean producers/exporters will be subject to a rate of 29.93%.

The ruling relates to large liquid dielectric power transformers having a top power handling capacity greater than or equal to 60,000 kilovolt amperes (60 megavolt amperes), whether assembled or unassembled, complete or incomplete.

Under international trade rules nations may impose duties on the import of goods being sold at below the prevailing market price in the nation's domestic market, known as anti-dumping duties.

The US investigation found that the Korean import of large power transformers had increased significantly in the past few years, from USD278.4m in 2008 to USD415m in 2010.

By Mike Godfrey

Source: lowtax.net