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U.S. to slap heavy anti-dumping duties on S. Korean steel imports
24/07/2016 12:00
The United States has made a final decision to impose anti-dumping duties of up to 48 percent on imports of corrosion-resistant steel from South Korea, a key trade agency here said Thursday.
In its recent ruling, the U.S. International Trade Commission (ITC) determined that the related U.S. industry is actually hurt by products from South Korea and four other nations sold at less than fair value and subsidized by their governments, according to the Korea International Trade Association.
It was upholding a decision by the Department of Commerce (DOC) to levy a 47.8 percent duty on Hyundai Steel and 8.75 percent on Dongkuk Steel.
The other four countries facing similar penalties are China, India, Italy and Taiwan.
Earlier this week, the DOC also decided to charge anti-dumping duties on washing machines made in China by two South Korean firms -- Samsung Electronics and LG Electronics -- ruling in favor of their American rival Whirlpool.
In its recent ruling, the U.S. International Trade Commission (ITC) determined that the related U.S. industry is actually hurt by products from South Korea and four other nations sold at less than fair value and subsidized by their governments, according to the Korea International Trade Association.
It was upholding a decision by the Department of Commerce (DOC) to levy a 47.8 percent duty on Hyundai Steel and 8.75 percent on Dongkuk Steel.
The other four countries facing similar penalties are China, India, Italy and Taiwan.
Earlier this week, the DOC also decided to charge anti-dumping duties on washing machines made in China by two South Korean firms -- Samsung Electronics and LG Electronics -- ruling in favor of their American rival Whirlpool.
Source: Korea Herald
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