China extends duties to Korean fiber opticsChina’s commerce ministry has extended its punitive duties to Korean optical fibers, a trade agency here said Thursday, in what could be viewed as its latest move to retaliate against Seoul for its decision to install a U.S. missile defense system.
China’s Ministry of Commerce has said its antidumping duties imposed on Korea-made optical fibers will be extended by five years starting Jan. 1, according to Korea’s state-run Korea Trade-Investment Promotion Agency (Kotra).
Optical fibers are used to create fiber cables that are widely used in the telecommunications and computer networking industries. China began imposing punitive duties of 7 percent to 46 percent on Korean optical fibers in 2005. Under the latest extension, shipments from Korea’s LS Cable & System will be subject to a 9.1 percent tariff, and products from Taihan Fiberoptics to 7.9 percent, according to Kotra. All other Korean products will be subject to a 46 percent tariff rate.
“China appears to have decided a termination of the antidumping duties against Korean products may lead to damage to its local industry,” a market observer said. YONHAP