(MENAFN) South Korean washers' exports to the US is believed to halve, after the American government's approval of the proposal of the International Trade Commission (ITC) to impose anti-dumping taxes on South Korean washers.
On Dec.4, the ITC has suggested to President Trump a 50% tax rate on big residential washers produced by Samsung and LG, and surpassing a quota of 1.2m units, claiming that the washers were badly affecting the national industry.
If approved, the additional taxes would affect Samsung and LG washers produced abroad, not in South Korea, which would be the first move of this kind since George W. Bush administration imposed an 8-30% duty on imported South Korean steel, back in 2002.
The ITC believe that the extra charges will lower the South Korean washers' imports by half, in order to boost sales of the US products.
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