U.S. to blast Korean-made washing machines with duties
The U.S. Commerce Department said Wednesday that it has reached a final decision to slap heavy anti-dumping duties on Korean-made washing machines.
In a ruling described by the American firm Whirlpool, the department determined that LG, Samsung and Daewoo have sold large washers in the U.S. at “dumping margins of 9.29 percent to 82.41 percent.”
The anti-dumping duties for the two leading Korean makers of electronics products - LG and Samsung - were set at 13.02 percent and 9.29 percent, respectively.
It added that the three firms have also received “countervailable subsidies” of 0.01 percent to 72.30 percent.
The decision marks the department’s final position on Whirlpool’s allegations that the Korean firms have dominated the U.S. market with unfair trade.
But the U.S. International Trade Commission (ITC) must give final approval for the duties to go into effect. The decision is slated for Feb. 1.
“The anti-dumping duties on LG Electronics and Samsung Electronics are at a quite high level,” a diplomatic source here said.
“A big blow is expected if the ITC acknowledges damage to the U.S. industry.”