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US Slaps Up to 65.72% Anti-Dumping Tariffs on South Korean Chemicals

The US Department of Commerce has issued a preliminary decision to impose anti-dumping duties of up to 65.72% on specific chemical materials from South Korea. This ruling, following an investigation requested by a US producer, represents a substantial reduction from the much higher margins initially alleged. South Korea's trade ministry has stated it will work to ensure fair treatment for its companies in the final ruling expected in May. This development occurs as South Korea's own trade watchdog has recently made preliminary anti-dumping decisions on imports from several European countries.

Key Points: US Anti-Dumping Tariffs on S. Korean Chemical Materials

  • US preliminary anti-dumping duties
  • Tariffs up to 65.72%
  • Significant reduction from initial allegations
  • Final ruling expected in May
2 min read

US issues anti-dumping tariff ruling on S. Korean chemical materials

The US preliminarily imposes tariffs up to 65.72% on Korean chemical exports, a major reduction from initial allegations. Final ruling expected in May.

"The preliminary margins represent a significant reduction compared with the 137 percent to 188 percent dumping margins originally alleged by the petitioner. - Yonhap report"

Seoul, Jan 2

The US Department of Commerce has reached a preliminary decision to impose up to 65.72 per cent anti-dumping tariffs on certain chemical materials from South Korea, Seoul's industry ministry said on Friday.

The Department announced its preliminary affirmative determination to impose anti-dumping duties between 10.94 per cent and 65.72 per cent on two Korean companies exporting monomers and oligomers to the United States, according to the Ministry of Trade, Industry and Resources, reports Yonhap news agency.

The decision came about six months after Washington initiated a dumping investigation into certain monomers and oligomers from Korea and Taiwan at the request of a U.S. chemical producer.

The preliminary margins represent a significant reduction compared with the 137 percent to 188 percent dumping margins originally alleged by the petitioner, according to the ministry.

The ministry said it will closely communicate with the companies to ensure they do not face unfair treatment in the U.S. department's final ruling in May.

Last month, South Korea's trade watchdog made a preliminary decision to impose anti-dumping tariffs on PVC paste resin imports from Germany, France, Norway and Sweden after its initial investigation identified potential damage to the domestic industry.

Under the decision, the Korea Trade Commission (KTC) will ask the Ministry of Economy and Finance to impose an anti-dumping tariff of between 25.79 and 42.81 percent on such products imported from the four countries, according to its officials.

PVC paste resin refers to durable plastic material made of very fine powder and used in many everyday products, such as wallpaper, sofas, shoes and gloves.

Separately, the commission also began probing allegations that three Chinese companies sold cold-rolled products of carbon steel or alloy steel below fair market value, said the report.

- IANS

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Reader Comments

P
Priya S
Interesting to see the tariffs were reduced from the initial 137-188% claim. Shows the initial allegations can be exaggerated. Makes you wonder about the process. Hope the Korean companies get a fair final ruling in May.
A
Aman W
PVC paste resin in wallpaper and sofas? Didn't know that! The article is quite informative about the materials we use daily. The trade wars affect end product prices for common people like us eventually.
S
Sarah B
While protecting domestic industry is important, these constant tariffs and counter-tariffs disrupt global supply chains. It leads to uncertainty for businesses everywhere, including those in India looking to export.
V
Vikram M
The US is very aggressive with its trade policies. South Korea and Taiwan are major tech/chem hubs. This move might create an opportunity for Indian chemical manufacturers if they can meet quality and scale. Make in India should focus on such high-value sectors.
K
Karthik V
A respectful criticism: The article jumps from US-Korea issue to Korea-Europe to China probes very quickly. A bit more context on how these are connected, or if it's just a series of unrelated events, would be helpful for the reader.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

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